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Offering Memorandum | AutoZone 1
OFFERING MEMORANDUM
947 1 RAINIER AVE S SEAT TLE WA 981 18
CORPORATE GUARANTEED AUTOZONE WITH RECENT 10+ YEAR LEASE EXTENSION LOCATED 15 MINUTES FROM DOWNTOWN SEATTLE
ACTUAL PROPERTY PHOTO
Offering Memorandum | AutoZone 2 Offering Memorandum | AutoZone 3
9471 RAINIER AVE S SEATTLE WA 98118 ADDRESS
$4262682 PRICE
425 CAP RATE
$181164 NOI
9828 SF GLA
061 ACRES LOT SIZE
19672008 YEAR BUILTRENOVATED
OFFERING SUMMARY Lease Term 22 Years
Lease Commencement Date 952008
Lease End Date 9302030
Lease Term Remaining 105 Years
Type of Ownership Fee Simple
Lease Type NNN
Landlord Responsibilities Foundation Structural Elements
Tenant Responsibilities Taxes Insurance RepairMaintenance (excluding foundation and structural elements)
Guarantor Autozone Corporate
Guarantee Corporate Guarantee
Renewal Options 3 5-Year Options
Increases 10 in Option 1 12 in Option 2 and Option 3
Right of First Refusal No
LEASE YEAR(S) ANNUAL RENT MONTHLY RENT RENT INCREASE ()
Current ndash 9302030 $181164 $15097 -
OPTION PERIODS
Option 1 (1012030-9302035) $19928040 $1660670 10
Option 2 (1012035-9302040) $22320000 $1860000 12
Option 3 (1012040-9302045) $24998400 $2083200 12
LEASE SUMMARY
RENT SCHEDULE
Landlordrsquos Repairs Except as provided in Sections 11 14 18 and 20 of Lease Landlord shall have no obligation under this Lease to make any repairs or replacements to the Demised Premises or the building or improvements thereon or any alteration addition change or improvement thereof or thereto whether structural or otherwise except that Landlord shall perform and make any necessary repairs or replacements to the foundation and structural elements of the building (including the structural component of the roof) initially delivered by Landlord
RAINIER AVE (19400+ VPD)
SOUTH LAKE HIGH SCHOOL
RAINIER BEACH COMMUNITY CENTER
SOUTH SHORE K-8
PARKSHORE VILLA CONDOMINIUM
SPINNAKER BAY MARINA
PARKSHORE MARINA
DOWNTOWN SEATTLE
UNDER CONSTRUCTION330 UNIT MULTI-FAMILY
PROJECT
RAINIER BEACH HIGH SCHOOL
SEWARD PARK AVE (4500+ VPD)
57TH AVE (2000+ VPD)ACTUAL PROPERTY PHOTO
Offering Memorandum | AutoZone 5
EARLY 10 YEAR LEASE EXTENSION AutoZone recently extended their lease early to total 10+ years of firm term ending in September 2030
FUTURE DEVELOPMENT POTENTIALThe parcel is 26765 SF with NC2-40 Zoning allowing mixed-use residential development with height limits of 40 feet An estimated 110+ apartment units could be built on site with views of Lake Washington and close proximity to Rainier Beach light rail station
RARE INFILL SEATTLE LOCATIONLocated 15 Minutes From Downtown Seattle
AUTOZONE DEEMED AN ldquoESSENTIALrdquo BUSINESSAutoZone is deemed an ldquoessentialrdquo business and is currently open with regular hours offering free in-store services and delivery
HIGH VISIBIL ITYThe Property is located on a highly trafficked arterial in close proximity to shopping centers the Rainier Link Transit Center the Marina and community centers
CORPORATE GUARANTEENATIONAL TENANTThe lease is guaranteed by AutoZone Corporate with an an SampP Investment Grade Credit Rating of ldquoBBBrdquo
LOCATED NEAR RAINIER BEACH LIGHT RAIL STATIONThe Property is located roughly a mile away from the Rainier Beach light rail station allowing for easy transit access to Downtown Seattle as a future TOD (Transit Oriented Development) site
GROWING SUBMARKETThe Rainier Beach Submarket was upzoned March 2019 allowing for substantially increased building heights and density Contact Listing Agent for additional details
EXCELLENT DEMOGRAPHICS Within a 5-mile radius the Property features 313240 residents with median household income of $71598
INCOME TAX FREE STATEWashington State has no state income tax
INVESTMENT HIGHLIGHTS
Offering Memorandum | AutoZone 4
I-5 (212700+ VPD)
RAINIER AVE (19400+ VPD)
RENTON AVE (19300+ VPD)
MANUFACTURING COMPLEX
MCDONALDrsquoS
SPINNAKER BAY MARINA
PARKSHORE MARINA
RAINIER BEACH HIGH SCHOOL
SOUTH LAKE HIGH SCHOOL
RAINIER BEACH COMMUNITY CENTER
SOUTH SHORE K-8
MLK JR WAY (32400+ VPD)
Offering Memorandum | AutoZone 6 Offering Memorandum | AutoZone 7
Property Photos
Offering Memorandum | AutoZone 8 Offering Memorandum | AutoZone 9
For more than 37 years AutoZone has been committed to providing the best parts prices and customer service in the automotive aftermarket industry Today AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the US
AutoZone Inc is a retailer and distributor of automotive replacement parts and accessories in the United States The Company operates through the Auto Parts Locations segment The Auto Parts Locations segment is a retailer and distributor of automotive parts and
EMPLOYEES
AS OF 2019
96000+SHOPS
6000+AS OF 2019
ANNUAL REVENUE
$12+ BILLION
AS OF 2019
accessories As of February 10 2018 the Company operated through 6088 locations in the United States Puerto Rico Mexico and Brazil The Companyrsquos stores carry product lines for cars sport utility vehicles vans and light trucks including new and remanufactured automotive hard parts maintenance items accessories and non-automotive products The Companyrsquos other operating segments include ALLDATA which produces sells and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce which includes direct sales to customers through wwwautozonecom
AUTO PARTS SUBMARKET LOOKING GOOD AUTOZONE SURPASSES EARNINGS ESTIMATES
AUTOZONE FURTHER GROWTH AHEAD AFTER 40 RISE
SEEK STRONG ROICS IN TURBULENT MARKETS
GET IN THE ZONE
Offering Memorandum | AutoZone 10 Offering Memorandum | AutoZone 11
SEATTLE WASHINGTONThe Seattle-Tacoma metro is situated approximately halfway between Portland Oregon to the south and Vancouver British Columbia to the north The Cascade Mountains border to the east Mount Rainier is to the southeast and the Puget Sound is to the west The metro is composed of Snohomish King and Pierce counties and has a population of nearly 39 million individuals Seattle is the largest city with 708000 residents followed by Tacoma Outlying cities recorded some of the largest population increases over the past decade as people moved toward lower land and housing costs Recently significant apartment construction has
boosted population growth in the city core
METRO HIGHLIGHTSSTRONG GROWING ECONOMY
Aerospace computer software e-commerce and biomedical technology are major driving forces for the local economy
ROBUST INTERNATIONAL TRADE
Three ports are located on the Puget Sound in Seattle Tacoma and Everett In addition to handling cargo cruise ships depart from the Port of Seattle
HIGHLY EDUCATED WORKFORCE
Approximately 40 percent of residents hold a bachelorrsquos degree and nearly 15 percent also have attained a graduate or professional degree
SEATTLE IN THE NEWSREPORT SEATTLE IS ONE OF TOP US METROS INVESTING IN NEW HOUSING PACING BEHIND PORTLAND
SEATTLE ADDED 50000 TECH JOBS DURING DECADE OF CONCENTRATION IN lsquoSUPERSTAR CITIESrsquo
SEATTLE COULD HOST THE 2021 NHL DRAFT BEFORE ITS INAUGURAL SEASON
LOCATION OVERVIEWDEVELOPMENT POTENTIAL
NEIGHBORHOOD COMMERCIAL 2 (40rsquo )
The NC2-40 zoning allows for mixed-use residentialcommercial buildings up to 40 feet in height Such zoning districts are found in pedestrian-oriented shopping areas that provide a full range of retail sales and services to the surrounding neighborhood such as medium-sized grocery stores drug stores coffee shops customer service offices or medicaldental facilities
DENSITY PROVISIONS
Height 40 Feet
Far 325 (Maximum)
Setbacks 015 Feet
Urban Village Yes (Rainier Beach)
Permitted Uses Mixed-Use Residential Commerical
This information has been secured from sources we believe to be reliable but we make norepresentations or warranties expressed or implied as to the accuracy of the informationReferences to square footage or age are approximate Buyer must verify the information and bears all risk for any inaccuracies Any projections opinions assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property Marcus amp Millichap Real Estate Investment Services is a service mark of Marcus amp Millichap Real Estate Investment Services Inc copy 2020 Marcus amp Millichap
RECENT RAINIER BEACH UPZONE
The Seattle City Council voted March 18th 2019 to allow taller buildings and denser construction in the Rainier Beach neighborhood in an attempt to help create affordable housing The map on the left shows the main areas that were recently upzoned in Seattle Below is an article with more information on the upzone
httpswwwseattletimescomseattle-newspoliticsseattle-upzones-27-neighborhood-hubs-passes-affordable-housing-requirements
Offering Memorandum | AutoZone 12 Offering Memorandum | AutoZone 13
REGIONAL
SEATTLE
PORTLAND
VANCOUVER BC
SPOKANE
OLYMPIA
TACOMA
90
90
90
82
84
DRIVE TIMES
15 MINUTES TO DOWNTOWN SEATTLE
30 MINUTES TO TACOMA
1 HOUR TO OLYMPIA
25 HOURS TO VANCOUVER BC
26 HOURS TO PORTLAND
N
E
S
WVANCOUVER
POPULATION 1 MILE 3 MILES 5 MILES
2024 Projection 16725 109823 334775
2019 Total Population 15563 103894 313240
Pop Growth 2019-2024 747 571 687
Average Age 3750 3840 3830
HOUSEHOLDS 1 MILE 3 MILES 5 MILES
2019 Total Households 5135 35991 117250
HH Growth 2019-2024 666 525 673
Median HH Income $58006 $68774 $71598
2019 Avg HH Vehicles 200 200 200
HOUSING 1 MILE 3 MILES 5 MILES
Median Home Value $397724 $417348 $424880
Median Year Built 1962 1964 1970
5 Miles
3 Miles
1 Mile
DEMOGRAPHICS
Offering Memorandum | AutoZone 14 Offering Memorandum | AutoZone 15
MARCUS amp MILLICHAP HEREBY ADVISES ALL PROSPECTIVE PURCHASERS OF NET LEASED PROPERTY AS FOLLOWSThe information contained in this Marketing Brochure has been obtained from sources we believe to be reliable However Marcus amp Millichap has not and will not verify any of this information nor has Marcus amp Millichap conducted any investigation regarding these matters Marcus amp Millichap makes no guarantee warranty or representation whatsoever about the accuracy or completeness of any information provided As the Buyer of a net leased property it is the Buyerrsquos responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity Marcus amp Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer Any projections opinions assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property The value of a net leased property to you depends on factors that should be evaluated by you and your tax financial and legal advisors Buyer and Buyerrsquos tax financial legal and construction advisors should conduct a careful independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs Like all real estate investments this investment carries significant risks Buyer and Buyerrsquos legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant While the tenantrsquos past performance at this or other locations is an important consideration it is not a guarantee of future success Similarly the lease rate for some properties including newly-constructed facilities or newly-acquired locations may be set based on a tenantrsquos projected sales with little or no record of actual performance or comparable rents for the area Returns are not guaranteed the tenant and any guarantors may fail to pay the lease rent or property taxes or may fail to comply with other material terms of the lease cash flow may be interrupted in part or in whole due to market economic environmental or other conditions Regardless of tenant history and lease guarantees Buyer is responsible for conducting hisher own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property and Buyerrsquos legal ability to make alternate use of the property By accepting this Marketing Brochure you agree to release Marcus amp Millichap Real Estate Investment Services and hold it harmless from any kind of claim cost expense or liability arising out of your investigation andor purchase of this net leased property
CONFIDENTIALITY amp DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential It is intended to be reviewed only by the party receiving it from Marcus amp Millichap and should not be made available to any other person or entity without the written consent of Marcus amp Millichap This Marketing Brochure has been prepared to provide summary unverified information to prospective purchasers and to establish only a preliminary level of interest in the subject property The information contained herein is not a substitute for a thorough due diligence investigation Marcus amp Millichap has not made any investigation and makes no warranty or representation with respect to the income or expenses for the subject property the future projected financial performance of the property the size and square footage of the property and improvements the presence or absence of contaminating substances PCBrsquos or asbestos the compliance with State and Federal regulations the physical condition of the improvements thereon or the financial condition or business prospects of any tenant or any tenantrsquos plans or intentions to continue its occupancy of the subject property The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable however Marcus amp Millichap has not verified and will not verify any of the information contained herein nor has Marcus amp Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided All potential buyers must take appropriate measures to verify all of the information set forth herein
NON-ENDORSEMENT NOTICE Marcus amp Millichap Real Estate Investment Services Inc (ldquoMampMrdquo) is not affiliated with sponsored by or endorsed by any commercial tenant or lessee identified in this marketing package The presence of any corporationrsquos logo or name is not intended to indicate or imply affiliation with or sponsorship or endorsement by said corporation of MampM its affiliates or subsidiaries or any agent product service or commercial listing of MampM and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY Please consult your Marcus amp Millichap agent for more details
SPECIAL COVID-19 NOTICEAll potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary especially given the unpredictable changes resulting from the continuing COVID-19 pandemic Marcus amp Millichap has not been retained to perform and cannot conduct due diligence on behalf of any prospective purchaser Marcus amp Millichaprsquos principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers Marcus amp Millichap and its investment professionals cannot and will not act as lawyers accountants contractors or engineers All potential buyers are admonished and advised to engage other professionals on legal issues tax regulatory financial and accounting matters and for questions involving the propertyrsquos physical condition or financial outlook Projections and pro forma financial statements are not guarantees and given the potential volatility created by COVID-19 all potential buyers should be comfortable with and rely solely on their own projections analyses and decision-making)
Activity ID ZAB0110203
Offering Memorandum | AutoZone 16
ACTUAL PROPERTY PHOTO
CHRIS EDWARDSMarket Director Brown Retail Group
2068265819 Dchrisedwardsmarcusmillichapcom
DYLAN WOLFMarket Director Brown Retail Group
2068265728 Ddylanwolfmarcusmillichapcom
KARI LEIMarketing Coordinator Brown Retail Group
2068265820 Dkarileimarcusmillichapcom
RAYMOND ALLENFirst Vice President Capital Markets
2068265678 Drallenipausacom
TAMMY LINDENSenior Director Capital Markets
2068265713 Dtammylindenmarcusmillichapcom
CLAYTON J BROWNManaging Partner Brown Retail Group
2068265787 D2535694338 C
claytonbrownmarcusmillichapcom
RUTHANNE ROMEROPartner Brown Retail Group
2064932622 D9162064027 C
ruthanneromeromarcusmillichapcom
ANDREW SCOTLANDMarket Director Brown Retail Group
2068265706 D2067186756 C
andrewscotlandmarcusmillichapcom
BROWN RETAIL GROUP
Offering Memorandum | AutoZone 2 Offering Memorandum | AutoZone 3
9471 RAINIER AVE S SEATTLE WA 98118 ADDRESS
$4262682 PRICE
425 CAP RATE
$181164 NOI
9828 SF GLA
061 ACRES LOT SIZE
19672008 YEAR BUILTRENOVATED
OFFERING SUMMARY Lease Term 22 Years
Lease Commencement Date 952008
Lease End Date 9302030
Lease Term Remaining 105 Years
Type of Ownership Fee Simple
Lease Type NNN
Landlord Responsibilities Foundation Structural Elements
Tenant Responsibilities Taxes Insurance RepairMaintenance (excluding foundation and structural elements)
Guarantor Autozone Corporate
Guarantee Corporate Guarantee
Renewal Options 3 5-Year Options
Increases 10 in Option 1 12 in Option 2 and Option 3
Right of First Refusal No
LEASE YEAR(S) ANNUAL RENT MONTHLY RENT RENT INCREASE ()
Current ndash 9302030 $181164 $15097 -
OPTION PERIODS
Option 1 (1012030-9302035) $19928040 $1660670 10
Option 2 (1012035-9302040) $22320000 $1860000 12
Option 3 (1012040-9302045) $24998400 $2083200 12
LEASE SUMMARY
RENT SCHEDULE
Landlordrsquos Repairs Except as provided in Sections 11 14 18 and 20 of Lease Landlord shall have no obligation under this Lease to make any repairs or replacements to the Demised Premises or the building or improvements thereon or any alteration addition change or improvement thereof or thereto whether structural or otherwise except that Landlord shall perform and make any necessary repairs or replacements to the foundation and structural elements of the building (including the structural component of the roof) initially delivered by Landlord
RAINIER AVE (19400+ VPD)
SOUTH LAKE HIGH SCHOOL
RAINIER BEACH COMMUNITY CENTER
SOUTH SHORE K-8
PARKSHORE VILLA CONDOMINIUM
SPINNAKER BAY MARINA
PARKSHORE MARINA
DOWNTOWN SEATTLE
UNDER CONSTRUCTION330 UNIT MULTI-FAMILY
PROJECT
RAINIER BEACH HIGH SCHOOL
SEWARD PARK AVE (4500+ VPD)
57TH AVE (2000+ VPD)ACTUAL PROPERTY PHOTO
Offering Memorandum | AutoZone 5
EARLY 10 YEAR LEASE EXTENSION AutoZone recently extended their lease early to total 10+ years of firm term ending in September 2030
FUTURE DEVELOPMENT POTENTIALThe parcel is 26765 SF with NC2-40 Zoning allowing mixed-use residential development with height limits of 40 feet An estimated 110+ apartment units could be built on site with views of Lake Washington and close proximity to Rainier Beach light rail station
RARE INFILL SEATTLE LOCATIONLocated 15 Minutes From Downtown Seattle
AUTOZONE DEEMED AN ldquoESSENTIALrdquo BUSINESSAutoZone is deemed an ldquoessentialrdquo business and is currently open with regular hours offering free in-store services and delivery
HIGH VISIBIL ITYThe Property is located on a highly trafficked arterial in close proximity to shopping centers the Rainier Link Transit Center the Marina and community centers
CORPORATE GUARANTEENATIONAL TENANTThe lease is guaranteed by AutoZone Corporate with an an SampP Investment Grade Credit Rating of ldquoBBBrdquo
LOCATED NEAR RAINIER BEACH LIGHT RAIL STATIONThe Property is located roughly a mile away from the Rainier Beach light rail station allowing for easy transit access to Downtown Seattle as a future TOD (Transit Oriented Development) site
GROWING SUBMARKETThe Rainier Beach Submarket was upzoned March 2019 allowing for substantially increased building heights and density Contact Listing Agent for additional details
EXCELLENT DEMOGRAPHICS Within a 5-mile radius the Property features 313240 residents with median household income of $71598
INCOME TAX FREE STATEWashington State has no state income tax
INVESTMENT HIGHLIGHTS
Offering Memorandum | AutoZone 4
I-5 (212700+ VPD)
RAINIER AVE (19400+ VPD)
RENTON AVE (19300+ VPD)
MANUFACTURING COMPLEX
MCDONALDrsquoS
SPINNAKER BAY MARINA
PARKSHORE MARINA
RAINIER BEACH HIGH SCHOOL
SOUTH LAKE HIGH SCHOOL
RAINIER BEACH COMMUNITY CENTER
SOUTH SHORE K-8
MLK JR WAY (32400+ VPD)
Offering Memorandum | AutoZone 6 Offering Memorandum | AutoZone 7
Property Photos
Offering Memorandum | AutoZone 8 Offering Memorandum | AutoZone 9
For more than 37 years AutoZone has been committed to providing the best parts prices and customer service in the automotive aftermarket industry Today AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the US
AutoZone Inc is a retailer and distributor of automotive replacement parts and accessories in the United States The Company operates through the Auto Parts Locations segment The Auto Parts Locations segment is a retailer and distributor of automotive parts and
EMPLOYEES
AS OF 2019
96000+SHOPS
6000+AS OF 2019
ANNUAL REVENUE
$12+ BILLION
AS OF 2019
accessories As of February 10 2018 the Company operated through 6088 locations in the United States Puerto Rico Mexico and Brazil The Companyrsquos stores carry product lines for cars sport utility vehicles vans and light trucks including new and remanufactured automotive hard parts maintenance items accessories and non-automotive products The Companyrsquos other operating segments include ALLDATA which produces sells and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce which includes direct sales to customers through wwwautozonecom
AUTO PARTS SUBMARKET LOOKING GOOD AUTOZONE SURPASSES EARNINGS ESTIMATES
AUTOZONE FURTHER GROWTH AHEAD AFTER 40 RISE
SEEK STRONG ROICS IN TURBULENT MARKETS
GET IN THE ZONE
Offering Memorandum | AutoZone 10 Offering Memorandum | AutoZone 11
SEATTLE WASHINGTONThe Seattle-Tacoma metro is situated approximately halfway between Portland Oregon to the south and Vancouver British Columbia to the north The Cascade Mountains border to the east Mount Rainier is to the southeast and the Puget Sound is to the west The metro is composed of Snohomish King and Pierce counties and has a population of nearly 39 million individuals Seattle is the largest city with 708000 residents followed by Tacoma Outlying cities recorded some of the largest population increases over the past decade as people moved toward lower land and housing costs Recently significant apartment construction has
boosted population growth in the city core
METRO HIGHLIGHTSSTRONG GROWING ECONOMY
Aerospace computer software e-commerce and biomedical technology are major driving forces for the local economy
ROBUST INTERNATIONAL TRADE
Three ports are located on the Puget Sound in Seattle Tacoma and Everett In addition to handling cargo cruise ships depart from the Port of Seattle
HIGHLY EDUCATED WORKFORCE
Approximately 40 percent of residents hold a bachelorrsquos degree and nearly 15 percent also have attained a graduate or professional degree
SEATTLE IN THE NEWSREPORT SEATTLE IS ONE OF TOP US METROS INVESTING IN NEW HOUSING PACING BEHIND PORTLAND
SEATTLE ADDED 50000 TECH JOBS DURING DECADE OF CONCENTRATION IN lsquoSUPERSTAR CITIESrsquo
SEATTLE COULD HOST THE 2021 NHL DRAFT BEFORE ITS INAUGURAL SEASON
LOCATION OVERVIEWDEVELOPMENT POTENTIAL
NEIGHBORHOOD COMMERCIAL 2 (40rsquo )
The NC2-40 zoning allows for mixed-use residentialcommercial buildings up to 40 feet in height Such zoning districts are found in pedestrian-oriented shopping areas that provide a full range of retail sales and services to the surrounding neighborhood such as medium-sized grocery stores drug stores coffee shops customer service offices or medicaldental facilities
DENSITY PROVISIONS
Height 40 Feet
Far 325 (Maximum)
Setbacks 015 Feet
Urban Village Yes (Rainier Beach)
Permitted Uses Mixed-Use Residential Commerical
This information has been secured from sources we believe to be reliable but we make norepresentations or warranties expressed or implied as to the accuracy of the informationReferences to square footage or age are approximate Buyer must verify the information and bears all risk for any inaccuracies Any projections opinions assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property Marcus amp Millichap Real Estate Investment Services is a service mark of Marcus amp Millichap Real Estate Investment Services Inc copy 2020 Marcus amp Millichap
RECENT RAINIER BEACH UPZONE
The Seattle City Council voted March 18th 2019 to allow taller buildings and denser construction in the Rainier Beach neighborhood in an attempt to help create affordable housing The map on the left shows the main areas that were recently upzoned in Seattle Below is an article with more information on the upzone
httpswwwseattletimescomseattle-newspoliticsseattle-upzones-27-neighborhood-hubs-passes-affordable-housing-requirements
Offering Memorandum | AutoZone 12 Offering Memorandum | AutoZone 13
REGIONAL
SEATTLE
PORTLAND
VANCOUVER BC
SPOKANE
OLYMPIA
TACOMA
90
90
90
82
84
DRIVE TIMES
15 MINUTES TO DOWNTOWN SEATTLE
30 MINUTES TO TACOMA
1 HOUR TO OLYMPIA
25 HOURS TO VANCOUVER BC
26 HOURS TO PORTLAND
N
E
S
WVANCOUVER
POPULATION 1 MILE 3 MILES 5 MILES
2024 Projection 16725 109823 334775
2019 Total Population 15563 103894 313240
Pop Growth 2019-2024 747 571 687
Average Age 3750 3840 3830
HOUSEHOLDS 1 MILE 3 MILES 5 MILES
2019 Total Households 5135 35991 117250
HH Growth 2019-2024 666 525 673
Median HH Income $58006 $68774 $71598
2019 Avg HH Vehicles 200 200 200
HOUSING 1 MILE 3 MILES 5 MILES
Median Home Value $397724 $417348 $424880
Median Year Built 1962 1964 1970
5 Miles
3 Miles
1 Mile
DEMOGRAPHICS
Offering Memorandum | AutoZone 14 Offering Memorandum | AutoZone 15
MARCUS amp MILLICHAP HEREBY ADVISES ALL PROSPECTIVE PURCHASERS OF NET LEASED PROPERTY AS FOLLOWSThe information contained in this Marketing Brochure has been obtained from sources we believe to be reliable However Marcus amp Millichap has not and will not verify any of this information nor has Marcus amp Millichap conducted any investigation regarding these matters Marcus amp Millichap makes no guarantee warranty or representation whatsoever about the accuracy or completeness of any information provided As the Buyer of a net leased property it is the Buyerrsquos responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity Marcus amp Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer Any projections opinions assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property The value of a net leased property to you depends on factors that should be evaluated by you and your tax financial and legal advisors Buyer and Buyerrsquos tax financial legal and construction advisors should conduct a careful independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs Like all real estate investments this investment carries significant risks Buyer and Buyerrsquos legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant While the tenantrsquos past performance at this or other locations is an important consideration it is not a guarantee of future success Similarly the lease rate for some properties including newly-constructed facilities or newly-acquired locations may be set based on a tenantrsquos projected sales with little or no record of actual performance or comparable rents for the area Returns are not guaranteed the tenant and any guarantors may fail to pay the lease rent or property taxes or may fail to comply with other material terms of the lease cash flow may be interrupted in part or in whole due to market economic environmental or other conditions Regardless of tenant history and lease guarantees Buyer is responsible for conducting hisher own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property and Buyerrsquos legal ability to make alternate use of the property By accepting this Marketing Brochure you agree to release Marcus amp Millichap Real Estate Investment Services and hold it harmless from any kind of claim cost expense or liability arising out of your investigation andor purchase of this net leased property
CONFIDENTIALITY amp DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential It is intended to be reviewed only by the party receiving it from Marcus amp Millichap and should not be made available to any other person or entity without the written consent of Marcus amp Millichap This Marketing Brochure has been prepared to provide summary unverified information to prospective purchasers and to establish only a preliminary level of interest in the subject property The information contained herein is not a substitute for a thorough due diligence investigation Marcus amp Millichap has not made any investigation and makes no warranty or representation with respect to the income or expenses for the subject property the future projected financial performance of the property the size and square footage of the property and improvements the presence or absence of contaminating substances PCBrsquos or asbestos the compliance with State and Federal regulations the physical condition of the improvements thereon or the financial condition or business prospects of any tenant or any tenantrsquos plans or intentions to continue its occupancy of the subject property The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable however Marcus amp Millichap has not verified and will not verify any of the information contained herein nor has Marcus amp Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided All potential buyers must take appropriate measures to verify all of the information set forth herein
NON-ENDORSEMENT NOTICE Marcus amp Millichap Real Estate Investment Services Inc (ldquoMampMrdquo) is not affiliated with sponsored by or endorsed by any commercial tenant or lessee identified in this marketing package The presence of any corporationrsquos logo or name is not intended to indicate or imply affiliation with or sponsorship or endorsement by said corporation of MampM its affiliates or subsidiaries or any agent product service or commercial listing of MampM and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY Please consult your Marcus amp Millichap agent for more details
SPECIAL COVID-19 NOTICEAll potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary especially given the unpredictable changes resulting from the continuing COVID-19 pandemic Marcus amp Millichap has not been retained to perform and cannot conduct due diligence on behalf of any prospective purchaser Marcus amp Millichaprsquos principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers Marcus amp Millichap and its investment professionals cannot and will not act as lawyers accountants contractors or engineers All potential buyers are admonished and advised to engage other professionals on legal issues tax regulatory financial and accounting matters and for questions involving the propertyrsquos physical condition or financial outlook Projections and pro forma financial statements are not guarantees and given the potential volatility created by COVID-19 all potential buyers should be comfortable with and rely solely on their own projections analyses and decision-making)
Activity ID ZAB0110203
Offering Memorandum | AutoZone 16
ACTUAL PROPERTY PHOTO
CHRIS EDWARDSMarket Director Brown Retail Group
2068265819 Dchrisedwardsmarcusmillichapcom
DYLAN WOLFMarket Director Brown Retail Group
2068265728 Ddylanwolfmarcusmillichapcom
KARI LEIMarketing Coordinator Brown Retail Group
2068265820 Dkarileimarcusmillichapcom
RAYMOND ALLENFirst Vice President Capital Markets
2068265678 Drallenipausacom
TAMMY LINDENSenior Director Capital Markets
2068265713 Dtammylindenmarcusmillichapcom
CLAYTON J BROWNManaging Partner Brown Retail Group
2068265787 D2535694338 C
claytonbrownmarcusmillichapcom
RUTHANNE ROMEROPartner Brown Retail Group
2064932622 D9162064027 C
ruthanneromeromarcusmillichapcom
ANDREW SCOTLANDMarket Director Brown Retail Group
2068265706 D2067186756 C
andrewscotlandmarcusmillichapcom
BROWN RETAIL GROUP
Offering Memorandum | AutoZone 5
EARLY 10 YEAR LEASE EXTENSION AutoZone recently extended their lease early to total 10+ years of firm term ending in September 2030
FUTURE DEVELOPMENT POTENTIALThe parcel is 26765 SF with NC2-40 Zoning allowing mixed-use residential development with height limits of 40 feet An estimated 110+ apartment units could be built on site with views of Lake Washington and close proximity to Rainier Beach light rail station
RARE INFILL SEATTLE LOCATIONLocated 15 Minutes From Downtown Seattle
AUTOZONE DEEMED AN ldquoESSENTIALrdquo BUSINESSAutoZone is deemed an ldquoessentialrdquo business and is currently open with regular hours offering free in-store services and delivery
HIGH VISIBIL ITYThe Property is located on a highly trafficked arterial in close proximity to shopping centers the Rainier Link Transit Center the Marina and community centers
CORPORATE GUARANTEENATIONAL TENANTThe lease is guaranteed by AutoZone Corporate with an an SampP Investment Grade Credit Rating of ldquoBBBrdquo
LOCATED NEAR RAINIER BEACH LIGHT RAIL STATIONThe Property is located roughly a mile away from the Rainier Beach light rail station allowing for easy transit access to Downtown Seattle as a future TOD (Transit Oriented Development) site
GROWING SUBMARKETThe Rainier Beach Submarket was upzoned March 2019 allowing for substantially increased building heights and density Contact Listing Agent for additional details
EXCELLENT DEMOGRAPHICS Within a 5-mile radius the Property features 313240 residents with median household income of $71598
INCOME TAX FREE STATEWashington State has no state income tax
INVESTMENT HIGHLIGHTS
Offering Memorandum | AutoZone 4
I-5 (212700+ VPD)
RAINIER AVE (19400+ VPD)
RENTON AVE (19300+ VPD)
MANUFACTURING COMPLEX
MCDONALDrsquoS
SPINNAKER BAY MARINA
PARKSHORE MARINA
RAINIER BEACH HIGH SCHOOL
SOUTH LAKE HIGH SCHOOL
RAINIER BEACH COMMUNITY CENTER
SOUTH SHORE K-8
MLK JR WAY (32400+ VPD)
Offering Memorandum | AutoZone 6 Offering Memorandum | AutoZone 7
Property Photos
Offering Memorandum | AutoZone 8 Offering Memorandum | AutoZone 9
For more than 37 years AutoZone has been committed to providing the best parts prices and customer service in the automotive aftermarket industry Today AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the US
AutoZone Inc is a retailer and distributor of automotive replacement parts and accessories in the United States The Company operates through the Auto Parts Locations segment The Auto Parts Locations segment is a retailer and distributor of automotive parts and
EMPLOYEES
AS OF 2019
96000+SHOPS
6000+AS OF 2019
ANNUAL REVENUE
$12+ BILLION
AS OF 2019
accessories As of February 10 2018 the Company operated through 6088 locations in the United States Puerto Rico Mexico and Brazil The Companyrsquos stores carry product lines for cars sport utility vehicles vans and light trucks including new and remanufactured automotive hard parts maintenance items accessories and non-automotive products The Companyrsquos other operating segments include ALLDATA which produces sells and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce which includes direct sales to customers through wwwautozonecom
AUTO PARTS SUBMARKET LOOKING GOOD AUTOZONE SURPASSES EARNINGS ESTIMATES
AUTOZONE FURTHER GROWTH AHEAD AFTER 40 RISE
SEEK STRONG ROICS IN TURBULENT MARKETS
GET IN THE ZONE
Offering Memorandum | AutoZone 10 Offering Memorandum | AutoZone 11
SEATTLE WASHINGTONThe Seattle-Tacoma metro is situated approximately halfway between Portland Oregon to the south and Vancouver British Columbia to the north The Cascade Mountains border to the east Mount Rainier is to the southeast and the Puget Sound is to the west The metro is composed of Snohomish King and Pierce counties and has a population of nearly 39 million individuals Seattle is the largest city with 708000 residents followed by Tacoma Outlying cities recorded some of the largest population increases over the past decade as people moved toward lower land and housing costs Recently significant apartment construction has
boosted population growth in the city core
METRO HIGHLIGHTSSTRONG GROWING ECONOMY
Aerospace computer software e-commerce and biomedical technology are major driving forces for the local economy
ROBUST INTERNATIONAL TRADE
Three ports are located on the Puget Sound in Seattle Tacoma and Everett In addition to handling cargo cruise ships depart from the Port of Seattle
HIGHLY EDUCATED WORKFORCE
Approximately 40 percent of residents hold a bachelorrsquos degree and nearly 15 percent also have attained a graduate or professional degree
SEATTLE IN THE NEWSREPORT SEATTLE IS ONE OF TOP US METROS INVESTING IN NEW HOUSING PACING BEHIND PORTLAND
SEATTLE ADDED 50000 TECH JOBS DURING DECADE OF CONCENTRATION IN lsquoSUPERSTAR CITIESrsquo
SEATTLE COULD HOST THE 2021 NHL DRAFT BEFORE ITS INAUGURAL SEASON
LOCATION OVERVIEWDEVELOPMENT POTENTIAL
NEIGHBORHOOD COMMERCIAL 2 (40rsquo )
The NC2-40 zoning allows for mixed-use residentialcommercial buildings up to 40 feet in height Such zoning districts are found in pedestrian-oriented shopping areas that provide a full range of retail sales and services to the surrounding neighborhood such as medium-sized grocery stores drug stores coffee shops customer service offices or medicaldental facilities
DENSITY PROVISIONS
Height 40 Feet
Far 325 (Maximum)
Setbacks 015 Feet
Urban Village Yes (Rainier Beach)
Permitted Uses Mixed-Use Residential Commerical
This information has been secured from sources we believe to be reliable but we make norepresentations or warranties expressed or implied as to the accuracy of the informationReferences to square footage or age are approximate Buyer must verify the information and bears all risk for any inaccuracies Any projections opinions assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property Marcus amp Millichap Real Estate Investment Services is a service mark of Marcus amp Millichap Real Estate Investment Services Inc copy 2020 Marcus amp Millichap
RECENT RAINIER BEACH UPZONE
The Seattle City Council voted March 18th 2019 to allow taller buildings and denser construction in the Rainier Beach neighborhood in an attempt to help create affordable housing The map on the left shows the main areas that were recently upzoned in Seattle Below is an article with more information on the upzone
httpswwwseattletimescomseattle-newspoliticsseattle-upzones-27-neighborhood-hubs-passes-affordable-housing-requirements
Offering Memorandum | AutoZone 12 Offering Memorandum | AutoZone 13
REGIONAL
SEATTLE
PORTLAND
VANCOUVER BC
SPOKANE
OLYMPIA
TACOMA
90
90
90
82
84
DRIVE TIMES
15 MINUTES TO DOWNTOWN SEATTLE
30 MINUTES TO TACOMA
1 HOUR TO OLYMPIA
25 HOURS TO VANCOUVER BC
26 HOURS TO PORTLAND
N
E
S
WVANCOUVER
POPULATION 1 MILE 3 MILES 5 MILES
2024 Projection 16725 109823 334775
2019 Total Population 15563 103894 313240
Pop Growth 2019-2024 747 571 687
Average Age 3750 3840 3830
HOUSEHOLDS 1 MILE 3 MILES 5 MILES
2019 Total Households 5135 35991 117250
HH Growth 2019-2024 666 525 673
Median HH Income $58006 $68774 $71598
2019 Avg HH Vehicles 200 200 200
HOUSING 1 MILE 3 MILES 5 MILES
Median Home Value $397724 $417348 $424880
Median Year Built 1962 1964 1970
5 Miles
3 Miles
1 Mile
DEMOGRAPHICS
Offering Memorandum | AutoZone 14 Offering Memorandum | AutoZone 15
MARCUS amp MILLICHAP HEREBY ADVISES ALL PROSPECTIVE PURCHASERS OF NET LEASED PROPERTY AS FOLLOWSThe information contained in this Marketing Brochure has been obtained from sources we believe to be reliable However Marcus amp Millichap has not and will not verify any of this information nor has Marcus amp Millichap conducted any investigation regarding these matters Marcus amp Millichap makes no guarantee warranty or representation whatsoever about the accuracy or completeness of any information provided As the Buyer of a net leased property it is the Buyerrsquos responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity Marcus amp Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer Any projections opinions assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property The value of a net leased property to you depends on factors that should be evaluated by you and your tax financial and legal advisors Buyer and Buyerrsquos tax financial legal and construction advisors should conduct a careful independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs Like all real estate investments this investment carries significant risks Buyer and Buyerrsquos legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant While the tenantrsquos past performance at this or other locations is an important consideration it is not a guarantee of future success Similarly the lease rate for some properties including newly-constructed facilities or newly-acquired locations may be set based on a tenantrsquos projected sales with little or no record of actual performance or comparable rents for the area Returns are not guaranteed the tenant and any guarantors may fail to pay the lease rent or property taxes or may fail to comply with other material terms of the lease cash flow may be interrupted in part or in whole due to market economic environmental or other conditions Regardless of tenant history and lease guarantees Buyer is responsible for conducting hisher own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property and Buyerrsquos legal ability to make alternate use of the property By accepting this Marketing Brochure you agree to release Marcus amp Millichap Real Estate Investment Services and hold it harmless from any kind of claim cost expense or liability arising out of your investigation andor purchase of this net leased property
CONFIDENTIALITY amp DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential It is intended to be reviewed only by the party receiving it from Marcus amp Millichap and should not be made available to any other person or entity without the written consent of Marcus amp Millichap This Marketing Brochure has been prepared to provide summary unverified information to prospective purchasers and to establish only a preliminary level of interest in the subject property The information contained herein is not a substitute for a thorough due diligence investigation Marcus amp Millichap has not made any investigation and makes no warranty or representation with respect to the income or expenses for the subject property the future projected financial performance of the property the size and square footage of the property and improvements the presence or absence of contaminating substances PCBrsquos or asbestos the compliance with State and Federal regulations the physical condition of the improvements thereon or the financial condition or business prospects of any tenant or any tenantrsquos plans or intentions to continue its occupancy of the subject property The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable however Marcus amp Millichap has not verified and will not verify any of the information contained herein nor has Marcus amp Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided All potential buyers must take appropriate measures to verify all of the information set forth herein
NON-ENDORSEMENT NOTICE Marcus amp Millichap Real Estate Investment Services Inc (ldquoMampMrdquo) is not affiliated with sponsored by or endorsed by any commercial tenant or lessee identified in this marketing package The presence of any corporationrsquos logo or name is not intended to indicate or imply affiliation with or sponsorship or endorsement by said corporation of MampM its affiliates or subsidiaries or any agent product service or commercial listing of MampM and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY Please consult your Marcus amp Millichap agent for more details
SPECIAL COVID-19 NOTICEAll potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary especially given the unpredictable changes resulting from the continuing COVID-19 pandemic Marcus amp Millichap has not been retained to perform and cannot conduct due diligence on behalf of any prospective purchaser Marcus amp Millichaprsquos principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers Marcus amp Millichap and its investment professionals cannot and will not act as lawyers accountants contractors or engineers All potential buyers are admonished and advised to engage other professionals on legal issues tax regulatory financial and accounting matters and for questions involving the propertyrsquos physical condition or financial outlook Projections and pro forma financial statements are not guarantees and given the potential volatility created by COVID-19 all potential buyers should be comfortable with and rely solely on their own projections analyses and decision-making)
Activity ID ZAB0110203
Offering Memorandum | AutoZone 16
ACTUAL PROPERTY PHOTO
CHRIS EDWARDSMarket Director Brown Retail Group
2068265819 Dchrisedwardsmarcusmillichapcom
DYLAN WOLFMarket Director Brown Retail Group
2068265728 Ddylanwolfmarcusmillichapcom
KARI LEIMarketing Coordinator Brown Retail Group
2068265820 Dkarileimarcusmillichapcom
RAYMOND ALLENFirst Vice President Capital Markets
2068265678 Drallenipausacom
TAMMY LINDENSenior Director Capital Markets
2068265713 Dtammylindenmarcusmillichapcom
CLAYTON J BROWNManaging Partner Brown Retail Group
2068265787 D2535694338 C
claytonbrownmarcusmillichapcom
RUTHANNE ROMEROPartner Brown Retail Group
2064932622 D9162064027 C
ruthanneromeromarcusmillichapcom
ANDREW SCOTLANDMarket Director Brown Retail Group
2068265706 D2067186756 C
andrewscotlandmarcusmillichapcom
BROWN RETAIL GROUP
Offering Memorandum | AutoZone 6 Offering Memorandum | AutoZone 7
Property Photos
Offering Memorandum | AutoZone 8 Offering Memorandum | AutoZone 9
For more than 37 years AutoZone has been committed to providing the best parts prices and customer service in the automotive aftermarket industry Today AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the US
AutoZone Inc is a retailer and distributor of automotive replacement parts and accessories in the United States The Company operates through the Auto Parts Locations segment The Auto Parts Locations segment is a retailer and distributor of automotive parts and
EMPLOYEES
AS OF 2019
96000+SHOPS
6000+AS OF 2019
ANNUAL REVENUE
$12+ BILLION
AS OF 2019
accessories As of February 10 2018 the Company operated through 6088 locations in the United States Puerto Rico Mexico and Brazil The Companyrsquos stores carry product lines for cars sport utility vehicles vans and light trucks including new and remanufactured automotive hard parts maintenance items accessories and non-automotive products The Companyrsquos other operating segments include ALLDATA which produces sells and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce which includes direct sales to customers through wwwautozonecom
AUTO PARTS SUBMARKET LOOKING GOOD AUTOZONE SURPASSES EARNINGS ESTIMATES
AUTOZONE FURTHER GROWTH AHEAD AFTER 40 RISE
SEEK STRONG ROICS IN TURBULENT MARKETS
GET IN THE ZONE
Offering Memorandum | AutoZone 10 Offering Memorandum | AutoZone 11
SEATTLE WASHINGTONThe Seattle-Tacoma metro is situated approximately halfway between Portland Oregon to the south and Vancouver British Columbia to the north The Cascade Mountains border to the east Mount Rainier is to the southeast and the Puget Sound is to the west The metro is composed of Snohomish King and Pierce counties and has a population of nearly 39 million individuals Seattle is the largest city with 708000 residents followed by Tacoma Outlying cities recorded some of the largest population increases over the past decade as people moved toward lower land and housing costs Recently significant apartment construction has
boosted population growth in the city core
METRO HIGHLIGHTSSTRONG GROWING ECONOMY
Aerospace computer software e-commerce and biomedical technology are major driving forces for the local economy
ROBUST INTERNATIONAL TRADE
Three ports are located on the Puget Sound in Seattle Tacoma and Everett In addition to handling cargo cruise ships depart from the Port of Seattle
HIGHLY EDUCATED WORKFORCE
Approximately 40 percent of residents hold a bachelorrsquos degree and nearly 15 percent also have attained a graduate or professional degree
SEATTLE IN THE NEWSREPORT SEATTLE IS ONE OF TOP US METROS INVESTING IN NEW HOUSING PACING BEHIND PORTLAND
SEATTLE ADDED 50000 TECH JOBS DURING DECADE OF CONCENTRATION IN lsquoSUPERSTAR CITIESrsquo
SEATTLE COULD HOST THE 2021 NHL DRAFT BEFORE ITS INAUGURAL SEASON
LOCATION OVERVIEWDEVELOPMENT POTENTIAL
NEIGHBORHOOD COMMERCIAL 2 (40rsquo )
The NC2-40 zoning allows for mixed-use residentialcommercial buildings up to 40 feet in height Such zoning districts are found in pedestrian-oriented shopping areas that provide a full range of retail sales and services to the surrounding neighborhood such as medium-sized grocery stores drug stores coffee shops customer service offices or medicaldental facilities
DENSITY PROVISIONS
Height 40 Feet
Far 325 (Maximum)
Setbacks 015 Feet
Urban Village Yes (Rainier Beach)
Permitted Uses Mixed-Use Residential Commerical
This information has been secured from sources we believe to be reliable but we make norepresentations or warranties expressed or implied as to the accuracy of the informationReferences to square footage or age are approximate Buyer must verify the information and bears all risk for any inaccuracies Any projections opinions assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property Marcus amp Millichap Real Estate Investment Services is a service mark of Marcus amp Millichap Real Estate Investment Services Inc copy 2020 Marcus amp Millichap
RECENT RAINIER BEACH UPZONE
The Seattle City Council voted March 18th 2019 to allow taller buildings and denser construction in the Rainier Beach neighborhood in an attempt to help create affordable housing The map on the left shows the main areas that were recently upzoned in Seattle Below is an article with more information on the upzone
httpswwwseattletimescomseattle-newspoliticsseattle-upzones-27-neighborhood-hubs-passes-affordable-housing-requirements
Offering Memorandum | AutoZone 12 Offering Memorandum | AutoZone 13
REGIONAL
SEATTLE
PORTLAND
VANCOUVER BC
SPOKANE
OLYMPIA
TACOMA
90
90
90
82
84
DRIVE TIMES
15 MINUTES TO DOWNTOWN SEATTLE
30 MINUTES TO TACOMA
1 HOUR TO OLYMPIA
25 HOURS TO VANCOUVER BC
26 HOURS TO PORTLAND
N
E
S
WVANCOUVER
POPULATION 1 MILE 3 MILES 5 MILES
2024 Projection 16725 109823 334775
2019 Total Population 15563 103894 313240
Pop Growth 2019-2024 747 571 687
Average Age 3750 3840 3830
HOUSEHOLDS 1 MILE 3 MILES 5 MILES
2019 Total Households 5135 35991 117250
HH Growth 2019-2024 666 525 673
Median HH Income $58006 $68774 $71598
2019 Avg HH Vehicles 200 200 200
HOUSING 1 MILE 3 MILES 5 MILES
Median Home Value $397724 $417348 $424880
Median Year Built 1962 1964 1970
5 Miles
3 Miles
1 Mile
DEMOGRAPHICS
Offering Memorandum | AutoZone 14 Offering Memorandum | AutoZone 15
MARCUS amp MILLICHAP HEREBY ADVISES ALL PROSPECTIVE PURCHASERS OF NET LEASED PROPERTY AS FOLLOWSThe information contained in this Marketing Brochure has been obtained from sources we believe to be reliable However Marcus amp Millichap has not and will not verify any of this information nor has Marcus amp Millichap conducted any investigation regarding these matters Marcus amp Millichap makes no guarantee warranty or representation whatsoever about the accuracy or completeness of any information provided As the Buyer of a net leased property it is the Buyerrsquos responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity Marcus amp Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer Any projections opinions assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property The value of a net leased property to you depends on factors that should be evaluated by you and your tax financial and legal advisors Buyer and Buyerrsquos tax financial legal and construction advisors should conduct a careful independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs Like all real estate investments this investment carries significant risks Buyer and Buyerrsquos legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant While the tenantrsquos past performance at this or other locations is an important consideration it is not a guarantee of future success Similarly the lease rate for some properties including newly-constructed facilities or newly-acquired locations may be set based on a tenantrsquos projected sales with little or no record of actual performance or comparable rents for the area Returns are not guaranteed the tenant and any guarantors may fail to pay the lease rent or property taxes or may fail to comply with other material terms of the lease cash flow may be interrupted in part or in whole due to market economic environmental or other conditions Regardless of tenant history and lease guarantees Buyer is responsible for conducting hisher own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property and Buyerrsquos legal ability to make alternate use of the property By accepting this Marketing Brochure you agree to release Marcus amp Millichap Real Estate Investment Services and hold it harmless from any kind of claim cost expense or liability arising out of your investigation andor purchase of this net leased property
CONFIDENTIALITY amp DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential It is intended to be reviewed only by the party receiving it from Marcus amp Millichap and should not be made available to any other person or entity without the written consent of Marcus amp Millichap This Marketing Brochure has been prepared to provide summary unverified information to prospective purchasers and to establish only a preliminary level of interest in the subject property The information contained herein is not a substitute for a thorough due diligence investigation Marcus amp Millichap has not made any investigation and makes no warranty or representation with respect to the income or expenses for the subject property the future projected financial performance of the property the size and square footage of the property and improvements the presence or absence of contaminating substances PCBrsquos or asbestos the compliance with State and Federal regulations the physical condition of the improvements thereon or the financial condition or business prospects of any tenant or any tenantrsquos plans or intentions to continue its occupancy of the subject property The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable however Marcus amp Millichap has not verified and will not verify any of the information contained herein nor has Marcus amp Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided All potential buyers must take appropriate measures to verify all of the information set forth herein
NON-ENDORSEMENT NOTICE Marcus amp Millichap Real Estate Investment Services Inc (ldquoMampMrdquo) is not affiliated with sponsored by or endorsed by any commercial tenant or lessee identified in this marketing package The presence of any corporationrsquos logo or name is not intended to indicate or imply affiliation with or sponsorship or endorsement by said corporation of MampM its affiliates or subsidiaries or any agent product service or commercial listing of MampM and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY Please consult your Marcus amp Millichap agent for more details
SPECIAL COVID-19 NOTICEAll potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary especially given the unpredictable changes resulting from the continuing COVID-19 pandemic Marcus amp Millichap has not been retained to perform and cannot conduct due diligence on behalf of any prospective purchaser Marcus amp Millichaprsquos principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers Marcus amp Millichap and its investment professionals cannot and will not act as lawyers accountants contractors or engineers All potential buyers are admonished and advised to engage other professionals on legal issues tax regulatory financial and accounting matters and for questions involving the propertyrsquos physical condition or financial outlook Projections and pro forma financial statements are not guarantees and given the potential volatility created by COVID-19 all potential buyers should be comfortable with and rely solely on their own projections analyses and decision-making)
Activity ID ZAB0110203
Offering Memorandum | AutoZone 16
ACTUAL PROPERTY PHOTO
CHRIS EDWARDSMarket Director Brown Retail Group
2068265819 Dchrisedwardsmarcusmillichapcom
DYLAN WOLFMarket Director Brown Retail Group
2068265728 Ddylanwolfmarcusmillichapcom
KARI LEIMarketing Coordinator Brown Retail Group
2068265820 Dkarileimarcusmillichapcom
RAYMOND ALLENFirst Vice President Capital Markets
2068265678 Drallenipausacom
TAMMY LINDENSenior Director Capital Markets
2068265713 Dtammylindenmarcusmillichapcom
CLAYTON J BROWNManaging Partner Brown Retail Group
2068265787 D2535694338 C
claytonbrownmarcusmillichapcom
RUTHANNE ROMEROPartner Brown Retail Group
2064932622 D9162064027 C
ruthanneromeromarcusmillichapcom
ANDREW SCOTLANDMarket Director Brown Retail Group
2068265706 D2067186756 C
andrewscotlandmarcusmillichapcom
BROWN RETAIL GROUP
Offering Memorandum | AutoZone 8 Offering Memorandum | AutoZone 9
For more than 37 years AutoZone has been committed to providing the best parts prices and customer service in the automotive aftermarket industry Today AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the US
AutoZone Inc is a retailer and distributor of automotive replacement parts and accessories in the United States The Company operates through the Auto Parts Locations segment The Auto Parts Locations segment is a retailer and distributor of automotive parts and
EMPLOYEES
AS OF 2019
96000+SHOPS
6000+AS OF 2019
ANNUAL REVENUE
$12+ BILLION
AS OF 2019
accessories As of February 10 2018 the Company operated through 6088 locations in the United States Puerto Rico Mexico and Brazil The Companyrsquos stores carry product lines for cars sport utility vehicles vans and light trucks including new and remanufactured automotive hard parts maintenance items accessories and non-automotive products The Companyrsquos other operating segments include ALLDATA which produces sells and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce which includes direct sales to customers through wwwautozonecom
AUTO PARTS SUBMARKET LOOKING GOOD AUTOZONE SURPASSES EARNINGS ESTIMATES
AUTOZONE FURTHER GROWTH AHEAD AFTER 40 RISE
SEEK STRONG ROICS IN TURBULENT MARKETS
GET IN THE ZONE
Offering Memorandum | AutoZone 10 Offering Memorandum | AutoZone 11
SEATTLE WASHINGTONThe Seattle-Tacoma metro is situated approximately halfway between Portland Oregon to the south and Vancouver British Columbia to the north The Cascade Mountains border to the east Mount Rainier is to the southeast and the Puget Sound is to the west The metro is composed of Snohomish King and Pierce counties and has a population of nearly 39 million individuals Seattle is the largest city with 708000 residents followed by Tacoma Outlying cities recorded some of the largest population increases over the past decade as people moved toward lower land and housing costs Recently significant apartment construction has
boosted population growth in the city core
METRO HIGHLIGHTSSTRONG GROWING ECONOMY
Aerospace computer software e-commerce and biomedical technology are major driving forces for the local economy
ROBUST INTERNATIONAL TRADE
Three ports are located on the Puget Sound in Seattle Tacoma and Everett In addition to handling cargo cruise ships depart from the Port of Seattle
HIGHLY EDUCATED WORKFORCE
Approximately 40 percent of residents hold a bachelorrsquos degree and nearly 15 percent also have attained a graduate or professional degree
SEATTLE IN THE NEWSREPORT SEATTLE IS ONE OF TOP US METROS INVESTING IN NEW HOUSING PACING BEHIND PORTLAND
SEATTLE ADDED 50000 TECH JOBS DURING DECADE OF CONCENTRATION IN lsquoSUPERSTAR CITIESrsquo
SEATTLE COULD HOST THE 2021 NHL DRAFT BEFORE ITS INAUGURAL SEASON
LOCATION OVERVIEWDEVELOPMENT POTENTIAL
NEIGHBORHOOD COMMERCIAL 2 (40rsquo )
The NC2-40 zoning allows for mixed-use residentialcommercial buildings up to 40 feet in height Such zoning districts are found in pedestrian-oriented shopping areas that provide a full range of retail sales and services to the surrounding neighborhood such as medium-sized grocery stores drug stores coffee shops customer service offices or medicaldental facilities
DENSITY PROVISIONS
Height 40 Feet
Far 325 (Maximum)
Setbacks 015 Feet
Urban Village Yes (Rainier Beach)
Permitted Uses Mixed-Use Residential Commerical
This information has been secured from sources we believe to be reliable but we make norepresentations or warranties expressed or implied as to the accuracy of the informationReferences to square footage or age are approximate Buyer must verify the information and bears all risk for any inaccuracies Any projections opinions assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property Marcus amp Millichap Real Estate Investment Services is a service mark of Marcus amp Millichap Real Estate Investment Services Inc copy 2020 Marcus amp Millichap
RECENT RAINIER BEACH UPZONE
The Seattle City Council voted March 18th 2019 to allow taller buildings and denser construction in the Rainier Beach neighborhood in an attempt to help create affordable housing The map on the left shows the main areas that were recently upzoned in Seattle Below is an article with more information on the upzone
httpswwwseattletimescomseattle-newspoliticsseattle-upzones-27-neighborhood-hubs-passes-affordable-housing-requirements
Offering Memorandum | AutoZone 12 Offering Memorandum | AutoZone 13
REGIONAL
SEATTLE
PORTLAND
VANCOUVER BC
SPOKANE
OLYMPIA
TACOMA
90
90
90
82
84
DRIVE TIMES
15 MINUTES TO DOWNTOWN SEATTLE
30 MINUTES TO TACOMA
1 HOUR TO OLYMPIA
25 HOURS TO VANCOUVER BC
26 HOURS TO PORTLAND
N
E
S
WVANCOUVER
POPULATION 1 MILE 3 MILES 5 MILES
2024 Projection 16725 109823 334775
2019 Total Population 15563 103894 313240
Pop Growth 2019-2024 747 571 687
Average Age 3750 3840 3830
HOUSEHOLDS 1 MILE 3 MILES 5 MILES
2019 Total Households 5135 35991 117250
HH Growth 2019-2024 666 525 673
Median HH Income $58006 $68774 $71598
2019 Avg HH Vehicles 200 200 200
HOUSING 1 MILE 3 MILES 5 MILES
Median Home Value $397724 $417348 $424880
Median Year Built 1962 1964 1970
5 Miles
3 Miles
1 Mile
DEMOGRAPHICS
Offering Memorandum | AutoZone 14 Offering Memorandum | AutoZone 15
MARCUS amp MILLICHAP HEREBY ADVISES ALL PROSPECTIVE PURCHASERS OF NET LEASED PROPERTY AS FOLLOWSThe information contained in this Marketing Brochure has been obtained from sources we believe to be reliable However Marcus amp Millichap has not and will not verify any of this information nor has Marcus amp Millichap conducted any investigation regarding these matters Marcus amp Millichap makes no guarantee warranty or representation whatsoever about the accuracy or completeness of any information provided As the Buyer of a net leased property it is the Buyerrsquos responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity Marcus amp Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer Any projections opinions assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property The value of a net leased property to you depends on factors that should be evaluated by you and your tax financial and legal advisors Buyer and Buyerrsquos tax financial legal and construction advisors should conduct a careful independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs Like all real estate investments this investment carries significant risks Buyer and Buyerrsquos legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant While the tenantrsquos past performance at this or other locations is an important consideration it is not a guarantee of future success Similarly the lease rate for some properties including newly-constructed facilities or newly-acquired locations may be set based on a tenantrsquos projected sales with little or no record of actual performance or comparable rents for the area Returns are not guaranteed the tenant and any guarantors may fail to pay the lease rent or property taxes or may fail to comply with other material terms of the lease cash flow may be interrupted in part or in whole due to market economic environmental or other conditions Regardless of tenant history and lease guarantees Buyer is responsible for conducting hisher own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property and Buyerrsquos legal ability to make alternate use of the property By accepting this Marketing Brochure you agree to release Marcus amp Millichap Real Estate Investment Services and hold it harmless from any kind of claim cost expense or liability arising out of your investigation andor purchase of this net leased property
CONFIDENTIALITY amp DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential It is intended to be reviewed only by the party receiving it from Marcus amp Millichap and should not be made available to any other person or entity without the written consent of Marcus amp Millichap This Marketing Brochure has been prepared to provide summary unverified information to prospective purchasers and to establish only a preliminary level of interest in the subject property The information contained herein is not a substitute for a thorough due diligence investigation Marcus amp Millichap has not made any investigation and makes no warranty or representation with respect to the income or expenses for the subject property the future projected financial performance of the property the size and square footage of the property and improvements the presence or absence of contaminating substances PCBrsquos or asbestos the compliance with State and Federal regulations the physical condition of the improvements thereon or the financial condition or business prospects of any tenant or any tenantrsquos plans or intentions to continue its occupancy of the subject property The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable however Marcus amp Millichap has not verified and will not verify any of the information contained herein nor has Marcus amp Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided All potential buyers must take appropriate measures to verify all of the information set forth herein
NON-ENDORSEMENT NOTICE Marcus amp Millichap Real Estate Investment Services Inc (ldquoMampMrdquo) is not affiliated with sponsored by or endorsed by any commercial tenant or lessee identified in this marketing package The presence of any corporationrsquos logo or name is not intended to indicate or imply affiliation with or sponsorship or endorsement by said corporation of MampM its affiliates or subsidiaries or any agent product service or commercial listing of MampM and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY Please consult your Marcus amp Millichap agent for more details
SPECIAL COVID-19 NOTICEAll potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary especially given the unpredictable changes resulting from the continuing COVID-19 pandemic Marcus amp Millichap has not been retained to perform and cannot conduct due diligence on behalf of any prospective purchaser Marcus amp Millichaprsquos principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers Marcus amp Millichap and its investment professionals cannot and will not act as lawyers accountants contractors or engineers All potential buyers are admonished and advised to engage other professionals on legal issues tax regulatory financial and accounting matters and for questions involving the propertyrsquos physical condition or financial outlook Projections and pro forma financial statements are not guarantees and given the potential volatility created by COVID-19 all potential buyers should be comfortable with and rely solely on their own projections analyses and decision-making)
Activity ID ZAB0110203
Offering Memorandum | AutoZone 16
ACTUAL PROPERTY PHOTO
CHRIS EDWARDSMarket Director Brown Retail Group
2068265819 Dchrisedwardsmarcusmillichapcom
DYLAN WOLFMarket Director Brown Retail Group
2068265728 Ddylanwolfmarcusmillichapcom
KARI LEIMarketing Coordinator Brown Retail Group
2068265820 Dkarileimarcusmillichapcom
RAYMOND ALLENFirst Vice President Capital Markets
2068265678 Drallenipausacom
TAMMY LINDENSenior Director Capital Markets
2068265713 Dtammylindenmarcusmillichapcom
CLAYTON J BROWNManaging Partner Brown Retail Group
2068265787 D2535694338 C
claytonbrownmarcusmillichapcom
RUTHANNE ROMEROPartner Brown Retail Group
2064932622 D9162064027 C
ruthanneromeromarcusmillichapcom
ANDREW SCOTLANDMarket Director Brown Retail Group
2068265706 D2067186756 C
andrewscotlandmarcusmillichapcom
BROWN RETAIL GROUP
Offering Memorandum | AutoZone 10 Offering Memorandum | AutoZone 11
SEATTLE WASHINGTONThe Seattle-Tacoma metro is situated approximately halfway between Portland Oregon to the south and Vancouver British Columbia to the north The Cascade Mountains border to the east Mount Rainier is to the southeast and the Puget Sound is to the west The metro is composed of Snohomish King and Pierce counties and has a population of nearly 39 million individuals Seattle is the largest city with 708000 residents followed by Tacoma Outlying cities recorded some of the largest population increases over the past decade as people moved toward lower land and housing costs Recently significant apartment construction has
boosted population growth in the city core
METRO HIGHLIGHTSSTRONG GROWING ECONOMY
Aerospace computer software e-commerce and biomedical technology are major driving forces for the local economy
ROBUST INTERNATIONAL TRADE
Three ports are located on the Puget Sound in Seattle Tacoma and Everett In addition to handling cargo cruise ships depart from the Port of Seattle
HIGHLY EDUCATED WORKFORCE
Approximately 40 percent of residents hold a bachelorrsquos degree and nearly 15 percent also have attained a graduate or professional degree
SEATTLE IN THE NEWSREPORT SEATTLE IS ONE OF TOP US METROS INVESTING IN NEW HOUSING PACING BEHIND PORTLAND
SEATTLE ADDED 50000 TECH JOBS DURING DECADE OF CONCENTRATION IN lsquoSUPERSTAR CITIESrsquo
SEATTLE COULD HOST THE 2021 NHL DRAFT BEFORE ITS INAUGURAL SEASON
LOCATION OVERVIEWDEVELOPMENT POTENTIAL
NEIGHBORHOOD COMMERCIAL 2 (40rsquo )
The NC2-40 zoning allows for mixed-use residentialcommercial buildings up to 40 feet in height Such zoning districts are found in pedestrian-oriented shopping areas that provide a full range of retail sales and services to the surrounding neighborhood such as medium-sized grocery stores drug stores coffee shops customer service offices or medicaldental facilities
DENSITY PROVISIONS
Height 40 Feet
Far 325 (Maximum)
Setbacks 015 Feet
Urban Village Yes (Rainier Beach)
Permitted Uses Mixed-Use Residential Commerical
This information has been secured from sources we believe to be reliable but we make norepresentations or warranties expressed or implied as to the accuracy of the informationReferences to square footage or age are approximate Buyer must verify the information and bears all risk for any inaccuracies Any projections opinions assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property Marcus amp Millichap Real Estate Investment Services is a service mark of Marcus amp Millichap Real Estate Investment Services Inc copy 2020 Marcus amp Millichap
RECENT RAINIER BEACH UPZONE
The Seattle City Council voted March 18th 2019 to allow taller buildings and denser construction in the Rainier Beach neighborhood in an attempt to help create affordable housing The map on the left shows the main areas that were recently upzoned in Seattle Below is an article with more information on the upzone
httpswwwseattletimescomseattle-newspoliticsseattle-upzones-27-neighborhood-hubs-passes-affordable-housing-requirements
Offering Memorandum | AutoZone 12 Offering Memorandum | AutoZone 13
REGIONAL
SEATTLE
PORTLAND
VANCOUVER BC
SPOKANE
OLYMPIA
TACOMA
90
90
90
82
84
DRIVE TIMES
15 MINUTES TO DOWNTOWN SEATTLE
30 MINUTES TO TACOMA
1 HOUR TO OLYMPIA
25 HOURS TO VANCOUVER BC
26 HOURS TO PORTLAND
N
E
S
WVANCOUVER
POPULATION 1 MILE 3 MILES 5 MILES
2024 Projection 16725 109823 334775
2019 Total Population 15563 103894 313240
Pop Growth 2019-2024 747 571 687
Average Age 3750 3840 3830
HOUSEHOLDS 1 MILE 3 MILES 5 MILES
2019 Total Households 5135 35991 117250
HH Growth 2019-2024 666 525 673
Median HH Income $58006 $68774 $71598
2019 Avg HH Vehicles 200 200 200
HOUSING 1 MILE 3 MILES 5 MILES
Median Home Value $397724 $417348 $424880
Median Year Built 1962 1964 1970
5 Miles
3 Miles
1 Mile
DEMOGRAPHICS
Offering Memorandum | AutoZone 14 Offering Memorandum | AutoZone 15
MARCUS amp MILLICHAP HEREBY ADVISES ALL PROSPECTIVE PURCHASERS OF NET LEASED PROPERTY AS FOLLOWSThe information contained in this Marketing Brochure has been obtained from sources we believe to be reliable However Marcus amp Millichap has not and will not verify any of this information nor has Marcus amp Millichap conducted any investigation regarding these matters Marcus amp Millichap makes no guarantee warranty or representation whatsoever about the accuracy or completeness of any information provided As the Buyer of a net leased property it is the Buyerrsquos responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity Marcus amp Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer Any projections opinions assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property The value of a net leased property to you depends on factors that should be evaluated by you and your tax financial and legal advisors Buyer and Buyerrsquos tax financial legal and construction advisors should conduct a careful independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs Like all real estate investments this investment carries significant risks Buyer and Buyerrsquos legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant While the tenantrsquos past performance at this or other locations is an important consideration it is not a guarantee of future success Similarly the lease rate for some properties including newly-constructed facilities or newly-acquired locations may be set based on a tenantrsquos projected sales with little or no record of actual performance or comparable rents for the area Returns are not guaranteed the tenant and any guarantors may fail to pay the lease rent or property taxes or may fail to comply with other material terms of the lease cash flow may be interrupted in part or in whole due to market economic environmental or other conditions Regardless of tenant history and lease guarantees Buyer is responsible for conducting hisher own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property and Buyerrsquos legal ability to make alternate use of the property By accepting this Marketing Brochure you agree to release Marcus amp Millichap Real Estate Investment Services and hold it harmless from any kind of claim cost expense or liability arising out of your investigation andor purchase of this net leased property
CONFIDENTIALITY amp DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential It is intended to be reviewed only by the party receiving it from Marcus amp Millichap and should not be made available to any other person or entity without the written consent of Marcus amp Millichap This Marketing Brochure has been prepared to provide summary unverified information to prospective purchasers and to establish only a preliminary level of interest in the subject property The information contained herein is not a substitute for a thorough due diligence investigation Marcus amp Millichap has not made any investigation and makes no warranty or representation with respect to the income or expenses for the subject property the future projected financial performance of the property the size and square footage of the property and improvements the presence or absence of contaminating substances PCBrsquos or asbestos the compliance with State and Federal regulations the physical condition of the improvements thereon or the financial condition or business prospects of any tenant or any tenantrsquos plans or intentions to continue its occupancy of the subject property The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable however Marcus amp Millichap has not verified and will not verify any of the information contained herein nor has Marcus amp Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided All potential buyers must take appropriate measures to verify all of the information set forth herein
NON-ENDORSEMENT NOTICE Marcus amp Millichap Real Estate Investment Services Inc (ldquoMampMrdquo) is not affiliated with sponsored by or endorsed by any commercial tenant or lessee identified in this marketing package The presence of any corporationrsquos logo or name is not intended to indicate or imply affiliation with or sponsorship or endorsement by said corporation of MampM its affiliates or subsidiaries or any agent product service or commercial listing of MampM and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY Please consult your Marcus amp Millichap agent for more details
SPECIAL COVID-19 NOTICEAll potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary especially given the unpredictable changes resulting from the continuing COVID-19 pandemic Marcus amp Millichap has not been retained to perform and cannot conduct due diligence on behalf of any prospective purchaser Marcus amp Millichaprsquos principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers Marcus amp Millichap and its investment professionals cannot and will not act as lawyers accountants contractors or engineers All potential buyers are admonished and advised to engage other professionals on legal issues tax regulatory financial and accounting matters and for questions involving the propertyrsquos physical condition or financial outlook Projections and pro forma financial statements are not guarantees and given the potential volatility created by COVID-19 all potential buyers should be comfortable with and rely solely on their own projections analyses and decision-making)
Activity ID ZAB0110203
Offering Memorandum | AutoZone 16
ACTUAL PROPERTY PHOTO
CHRIS EDWARDSMarket Director Brown Retail Group
2068265819 Dchrisedwardsmarcusmillichapcom
DYLAN WOLFMarket Director Brown Retail Group
2068265728 Ddylanwolfmarcusmillichapcom
KARI LEIMarketing Coordinator Brown Retail Group
2068265820 Dkarileimarcusmillichapcom
RAYMOND ALLENFirst Vice President Capital Markets
2068265678 Drallenipausacom
TAMMY LINDENSenior Director Capital Markets
2068265713 Dtammylindenmarcusmillichapcom
CLAYTON J BROWNManaging Partner Brown Retail Group
2068265787 D2535694338 C
claytonbrownmarcusmillichapcom
RUTHANNE ROMEROPartner Brown Retail Group
2064932622 D9162064027 C
ruthanneromeromarcusmillichapcom
ANDREW SCOTLANDMarket Director Brown Retail Group
2068265706 D2067186756 C
andrewscotlandmarcusmillichapcom
BROWN RETAIL GROUP
Offering Memorandum | AutoZone 12 Offering Memorandum | AutoZone 13
REGIONAL
SEATTLE
PORTLAND
VANCOUVER BC
SPOKANE
OLYMPIA
TACOMA
90
90
90
82
84
DRIVE TIMES
15 MINUTES TO DOWNTOWN SEATTLE
30 MINUTES TO TACOMA
1 HOUR TO OLYMPIA
25 HOURS TO VANCOUVER BC
26 HOURS TO PORTLAND
N
E
S
WVANCOUVER
POPULATION 1 MILE 3 MILES 5 MILES
2024 Projection 16725 109823 334775
2019 Total Population 15563 103894 313240
Pop Growth 2019-2024 747 571 687
Average Age 3750 3840 3830
HOUSEHOLDS 1 MILE 3 MILES 5 MILES
2019 Total Households 5135 35991 117250
HH Growth 2019-2024 666 525 673
Median HH Income $58006 $68774 $71598
2019 Avg HH Vehicles 200 200 200
HOUSING 1 MILE 3 MILES 5 MILES
Median Home Value $397724 $417348 $424880
Median Year Built 1962 1964 1970
5 Miles
3 Miles
1 Mile
DEMOGRAPHICS
Offering Memorandum | AutoZone 14 Offering Memorandum | AutoZone 15
MARCUS amp MILLICHAP HEREBY ADVISES ALL PROSPECTIVE PURCHASERS OF NET LEASED PROPERTY AS FOLLOWSThe information contained in this Marketing Brochure has been obtained from sources we believe to be reliable However Marcus amp Millichap has not and will not verify any of this information nor has Marcus amp Millichap conducted any investigation regarding these matters Marcus amp Millichap makes no guarantee warranty or representation whatsoever about the accuracy or completeness of any information provided As the Buyer of a net leased property it is the Buyerrsquos responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity Marcus amp Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer Any projections opinions assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property The value of a net leased property to you depends on factors that should be evaluated by you and your tax financial and legal advisors Buyer and Buyerrsquos tax financial legal and construction advisors should conduct a careful independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs Like all real estate investments this investment carries significant risks Buyer and Buyerrsquos legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant While the tenantrsquos past performance at this or other locations is an important consideration it is not a guarantee of future success Similarly the lease rate for some properties including newly-constructed facilities or newly-acquired locations may be set based on a tenantrsquos projected sales with little or no record of actual performance or comparable rents for the area Returns are not guaranteed the tenant and any guarantors may fail to pay the lease rent or property taxes or may fail to comply with other material terms of the lease cash flow may be interrupted in part or in whole due to market economic environmental or other conditions Regardless of tenant history and lease guarantees Buyer is responsible for conducting hisher own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property and Buyerrsquos legal ability to make alternate use of the property By accepting this Marketing Brochure you agree to release Marcus amp Millichap Real Estate Investment Services and hold it harmless from any kind of claim cost expense or liability arising out of your investigation andor purchase of this net leased property
CONFIDENTIALITY amp DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential It is intended to be reviewed only by the party receiving it from Marcus amp Millichap and should not be made available to any other person or entity without the written consent of Marcus amp Millichap This Marketing Brochure has been prepared to provide summary unverified information to prospective purchasers and to establish only a preliminary level of interest in the subject property The information contained herein is not a substitute for a thorough due diligence investigation Marcus amp Millichap has not made any investigation and makes no warranty or representation with respect to the income or expenses for the subject property the future projected financial performance of the property the size and square footage of the property and improvements the presence or absence of contaminating substances PCBrsquos or asbestos the compliance with State and Federal regulations the physical condition of the improvements thereon or the financial condition or business prospects of any tenant or any tenantrsquos plans or intentions to continue its occupancy of the subject property The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable however Marcus amp Millichap has not verified and will not verify any of the information contained herein nor has Marcus amp Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided All potential buyers must take appropriate measures to verify all of the information set forth herein
NON-ENDORSEMENT NOTICE Marcus amp Millichap Real Estate Investment Services Inc (ldquoMampMrdquo) is not affiliated with sponsored by or endorsed by any commercial tenant or lessee identified in this marketing package The presence of any corporationrsquos logo or name is not intended to indicate or imply affiliation with or sponsorship or endorsement by said corporation of MampM its affiliates or subsidiaries or any agent product service or commercial listing of MampM and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY Please consult your Marcus amp Millichap agent for more details
SPECIAL COVID-19 NOTICEAll potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary especially given the unpredictable changes resulting from the continuing COVID-19 pandemic Marcus amp Millichap has not been retained to perform and cannot conduct due diligence on behalf of any prospective purchaser Marcus amp Millichaprsquos principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers Marcus amp Millichap and its investment professionals cannot and will not act as lawyers accountants contractors or engineers All potential buyers are admonished and advised to engage other professionals on legal issues tax regulatory financial and accounting matters and for questions involving the propertyrsquos physical condition or financial outlook Projections and pro forma financial statements are not guarantees and given the potential volatility created by COVID-19 all potential buyers should be comfortable with and rely solely on their own projections analyses and decision-making)
Activity ID ZAB0110203
Offering Memorandum | AutoZone 16
ACTUAL PROPERTY PHOTO
CHRIS EDWARDSMarket Director Brown Retail Group
2068265819 Dchrisedwardsmarcusmillichapcom
DYLAN WOLFMarket Director Brown Retail Group
2068265728 Ddylanwolfmarcusmillichapcom
KARI LEIMarketing Coordinator Brown Retail Group
2068265820 Dkarileimarcusmillichapcom
RAYMOND ALLENFirst Vice President Capital Markets
2068265678 Drallenipausacom
TAMMY LINDENSenior Director Capital Markets
2068265713 Dtammylindenmarcusmillichapcom
CLAYTON J BROWNManaging Partner Brown Retail Group
2068265787 D2535694338 C
claytonbrownmarcusmillichapcom
RUTHANNE ROMEROPartner Brown Retail Group
2064932622 D9162064027 C
ruthanneromeromarcusmillichapcom
ANDREW SCOTLANDMarket Director Brown Retail Group
2068265706 D2067186756 C
andrewscotlandmarcusmillichapcom
BROWN RETAIL GROUP
Offering Memorandum | AutoZone 14 Offering Memorandum | AutoZone 15
MARCUS amp MILLICHAP HEREBY ADVISES ALL PROSPECTIVE PURCHASERS OF NET LEASED PROPERTY AS FOLLOWSThe information contained in this Marketing Brochure has been obtained from sources we believe to be reliable However Marcus amp Millichap has not and will not verify any of this information nor has Marcus amp Millichap conducted any investigation regarding these matters Marcus amp Millichap makes no guarantee warranty or representation whatsoever about the accuracy or completeness of any information provided As the Buyer of a net leased property it is the Buyerrsquos responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity Marcus amp Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer Any projections opinions assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property The value of a net leased property to you depends on factors that should be evaluated by you and your tax financial and legal advisors Buyer and Buyerrsquos tax financial legal and construction advisors should conduct a careful independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs Like all real estate investments this investment carries significant risks Buyer and Buyerrsquos legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant While the tenantrsquos past performance at this or other locations is an important consideration it is not a guarantee of future success Similarly the lease rate for some properties including newly-constructed facilities or newly-acquired locations may be set based on a tenantrsquos projected sales with little or no record of actual performance or comparable rents for the area Returns are not guaranteed the tenant and any guarantors may fail to pay the lease rent or property taxes or may fail to comply with other material terms of the lease cash flow may be interrupted in part or in whole due to market economic environmental or other conditions Regardless of tenant history and lease guarantees Buyer is responsible for conducting hisher own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property and Buyerrsquos legal ability to make alternate use of the property By accepting this Marketing Brochure you agree to release Marcus amp Millichap Real Estate Investment Services and hold it harmless from any kind of claim cost expense or liability arising out of your investigation andor purchase of this net leased property
CONFIDENTIALITY amp DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential It is intended to be reviewed only by the party receiving it from Marcus amp Millichap and should not be made available to any other person or entity without the written consent of Marcus amp Millichap This Marketing Brochure has been prepared to provide summary unverified information to prospective purchasers and to establish only a preliminary level of interest in the subject property The information contained herein is not a substitute for a thorough due diligence investigation Marcus amp Millichap has not made any investigation and makes no warranty or representation with respect to the income or expenses for the subject property the future projected financial performance of the property the size and square footage of the property and improvements the presence or absence of contaminating substances PCBrsquos or asbestos the compliance with State and Federal regulations the physical condition of the improvements thereon or the financial condition or business prospects of any tenant or any tenantrsquos plans or intentions to continue its occupancy of the subject property The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable however Marcus amp Millichap has not verified and will not verify any of the information contained herein nor has Marcus amp Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided All potential buyers must take appropriate measures to verify all of the information set forth herein
NON-ENDORSEMENT NOTICE Marcus amp Millichap Real Estate Investment Services Inc (ldquoMampMrdquo) is not affiliated with sponsored by or endorsed by any commercial tenant or lessee identified in this marketing package The presence of any corporationrsquos logo or name is not intended to indicate or imply affiliation with or sponsorship or endorsement by said corporation of MampM its affiliates or subsidiaries or any agent product service or commercial listing of MampM and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY Please consult your Marcus amp Millichap agent for more details
SPECIAL COVID-19 NOTICEAll potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary especially given the unpredictable changes resulting from the continuing COVID-19 pandemic Marcus amp Millichap has not been retained to perform and cannot conduct due diligence on behalf of any prospective purchaser Marcus amp Millichaprsquos principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers Marcus amp Millichap and its investment professionals cannot and will not act as lawyers accountants contractors or engineers All potential buyers are admonished and advised to engage other professionals on legal issues tax regulatory financial and accounting matters and for questions involving the propertyrsquos physical condition or financial outlook Projections and pro forma financial statements are not guarantees and given the potential volatility created by COVID-19 all potential buyers should be comfortable with and rely solely on their own projections analyses and decision-making)
Activity ID ZAB0110203
Offering Memorandum | AutoZone 16
ACTUAL PROPERTY PHOTO
CHRIS EDWARDSMarket Director Brown Retail Group
2068265819 Dchrisedwardsmarcusmillichapcom
DYLAN WOLFMarket Director Brown Retail Group
2068265728 Ddylanwolfmarcusmillichapcom
KARI LEIMarketing Coordinator Brown Retail Group
2068265820 Dkarileimarcusmillichapcom
RAYMOND ALLENFirst Vice President Capital Markets
2068265678 Drallenipausacom
TAMMY LINDENSenior Director Capital Markets
2068265713 Dtammylindenmarcusmillichapcom
CLAYTON J BROWNManaging Partner Brown Retail Group
2068265787 D2535694338 C
claytonbrownmarcusmillichapcom
RUTHANNE ROMEROPartner Brown Retail Group
2064932622 D9162064027 C
ruthanneromeromarcusmillichapcom
ANDREW SCOTLANDMarket Director Brown Retail Group
2068265706 D2067186756 C
andrewscotlandmarcusmillichapcom
BROWN RETAIL GROUP
Offering Memorandum | AutoZone 16
ACTUAL PROPERTY PHOTO
CHRIS EDWARDSMarket Director Brown Retail Group
2068265819 Dchrisedwardsmarcusmillichapcom
DYLAN WOLFMarket Director Brown Retail Group
2068265728 Ddylanwolfmarcusmillichapcom
KARI LEIMarketing Coordinator Brown Retail Group
2068265820 Dkarileimarcusmillichapcom
RAYMOND ALLENFirst Vice President Capital Markets
2068265678 Drallenipausacom
TAMMY LINDENSenior Director Capital Markets
2068265713 Dtammylindenmarcusmillichapcom
CLAYTON J BROWNManaging Partner Brown Retail Group
2068265787 D2535694338 C
claytonbrownmarcusmillichapcom
RUTHANNE ROMEROPartner Brown Retail Group
2064932622 D9162064027 C
ruthanneromeromarcusmillichapcom
ANDREW SCOTLANDMarket Director Brown Retail Group
2068265706 D2067186756 C
andrewscotlandmarcusmillichapcom
BROWN RETAIL GROUP
