Plaza Investment compressed...Total Gross Building Size 85,194 square feet on ﬂoors 1-5, plus 14,019 square foot base-ment Usable Building Size 75,716 Usable Square Feet +/-Rentable

CLIFF AVENUE PLAZA MULTI-TENANT RETAIL STRIP CENTER FOR SALE | SIOUX FALLS, SD

MULTI-TENANT OFFICE BUILDING IN DOWNTOWN SIOUX FALLS101 SOUTH PH ILL IPS AVENUE, S IOUX FALLS, SD 57104

101 S. Reid Street, Suite 201, Sioux Falls, SD 57103 | 605.323.2820Information herein is deemed reliable, but not guaranteed.

THE PLAZAINVESTMENT PROPERTY FOR SALE

MULTI-TENANT OFFICE BUILDING | LLOYD COMPANIES INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. | 2

MULTI-TENANT OFFICE BUILDING | SIOUX FALLS, SD

Investment Summary

Pricing $17,500,000

Proforma Cap. Rate 6.92%

Year Built 1982 - Fully renovated in 2013-

2014

Total Gross Building Size 85,194 square feet on floors 1-5,

plus 14,019 square foot base-

ment

Usable Building Size 75,716 Usable Square Feet +/-

Rentable Building Size 82,771 Rentable Square Feet +/-

Site Size Approximately 25,161 Square

Feet (0.578 Acres)

Current Occupancy 100%

Zoning Downtown PUD

Lloyd Companies is pleased to present the opportunity to acquire a five-

story plus full basement multi-tenant office building with first floor retail

exposure located in the heart of the downtown central business district

of Sioux Falls. This investment would be an excellent opportunity for any

portfolio.

RAQUEL BLOUNT, S IOR V ICE PRES IDENT OF COMMERCIAL REAL ESTATE

[email protected]

RICK MARTIN

KARLA JACKSON

BROKER ASSOCIATE

BROKER ASSOCIATE

[email protected]

[email protected]

JORDAN RIEFFENBERGER, CCIM , S IORDIRECTOR OF COMMERCIAL REAL ESTATE

*The statements and figures herein, while not guaranteed,

have been constructed from information believed to be

authoritative and dependable. Buyer to conduct and verify all

financial information.

*Members of the ownership entitiy (Seller) are licensed real estate agents

in the state of South Dakota.

[email protected]

[email protected] 605.310.0501

PAUL HEGG, CC IM, S IORPRES IDENT & CEO


MULTI-TENANT OFFICE BUILDING

Proforma as of 9/1/2020Projected Rent: $1,306,801

Vacancy Factor: $65,340 (5%)

Total Estimated Operating Expenses: $30,000

Net Operating Income (NOI): $1,211,461

Sales Price: $17,500,000

Proforma Cap Rate: 6.92%

Investment Summary

Pricing $17,500,000

Proforma Cap. Rate 6.92%

Year Built 1982 - Fully renovated in 2013-

2014

Total Gross Building Size 85,194 square feet on floors 1-5,

plus 14,019 square foot base-

ment

Usable Building Size 75,716 Usable Square Feet +/-

Rentable Building Size 82,771 Rentable Square Feet +/-

Site Size Approximately 25,161 Square

Feet (0.578 Acres)

Current Occupancy 100%

Zoning Downtown PUD

FINANCIAL OVERVIEW


SITE AERIAL | SIOUX FALLS, SD

AMENITIES:Building is connected to a Public Parking Ramp by a

breezeway

The brewery and restaurant tenant spaces have

direct access to a patio on the north and east sides

of the building

A city-owned patio area on the south side of the

building features summer events

Garage space with a loading area has access to the

freight elevator

Building has a backup generator


BUILDING PHOTOS | SIOUX FALLS, SD


TENANT INFO | SIOUX FALLS, SD

Experity (Formerly known as DocuTAP)

Experity crafts on-demand healthcare software and services that make

over a thousand urgent care clinics run efficiently. The company designs

a tablet-based EMR and PM, offer RCM services, and refine patient

workflow. A better urgent care experience is their focus.

Frontier Bank

Frontier Bank was founded in 1932 by a group of local community

leaders who decided to open a bank in their hometown. The bank strives

to be a leader in banking technology and continues to provide services to

their customers that enable them to conduct business more conveniently.

Suite: Lease Expiration: Rentable Area: Pro Rata Share of Project: Original Term: Number of Locations:Headquartered:Website:


010, 014, 104, 105, 201, 301

May 31, 2024

47,471 Rentable Square Feet

57.35%

Ten (10) year

One

Sioux Falls, SD

http://www.docutap.com/

103

November 30, 2024


6.62%

Ten (10) years

Five

Rock Rapids, Iowa

http://www.frontierbk.com/



Bluestem Capital

A venture capital firm featuring 450+ investors in more than 20 funds.

Per Bluestem Capital’s website, their “...Midwestern “roots” serve as

a foundation from which we expand our desire to excel at the financial

development of our business, customers and the communities we serve.”

Sterling Trustees

Sterling Trustees is a privately held, South Dakota-chartered trust

company. They provide independent trust management and trust

administration services to high net-worth families, foundations and

endowments.

Suite: Lease Expiration: Rentable Area: Pro Rata Share of Project: Original Term: Lease Termination Clause: Number of Locations:Headquartered:Website:


501

July 31, 2020


5.03%

Five (5) years

No

One

Sioux Falls, SD

http://www.bluestemcapital.com/

509

May 30, 2023


4.71%

Five (5) years

Two

Sioux Falls, SD

http://www.sterlingtrustees.com/



Philadelphia Insurance Companies (Magu-ire Insurance Agency, Inc.)

Philadelphia Insurance Companies is an A++ rated, debt free carrier that

designs, markets and underwrites commercial packages and professional

liability insurance for select target markets. Philadelphia Insurance

Companies is a Ward’s Top 50 carrier, one of the Top 150 Workplaces in

the country, and rated as a Best Place to Work in Insurance by Business

Insurance since 2010.

Woodgrain Brewing Co.

WoodGrain Brewing Co. is a fully functional, open style, microbrewery

operating an on-site 5-barrel brewing system producing an ever-

changing variety of beer styles. WoodGrain’s taproom seats 60 plus

available seating in the Plaza’s shared lobby areas and on the patio with

access and seating for 30-40. Their quality handmade beers are served

in a warm, inviting, and comfortable taphouse in downtown Sioux Falls,

South Dakota.



102

January 31, 2021


2.50%

Five (5) years

49

Bala Cynwyd, PA

http://www.phly.com/

100

September 30, 2020


3.19%

Five (5) years

One

Sioux Falls, SD

http://www.woodgrainbrew.com/



360 Headhunter

360 Headhunter aims to be the premier recruiting/headhunting company

within the industries we serve. They are currently developing construction

and agricultural markets.


513

June 30, 2020


1.93%

Five (5) years

One

Sioux Falls, SD

http://www.360headhunter.com/

Adler Trust Company

Specializing in establishing and providing ongoing management to private

trust companies catering to high net worth, multi-generational trusts.

Suite: Lease Expiration: Rentable Area: Pro Rata Share of Project: Original Term: Number of Locations:Headquartered:

508

December 31, 2028


3.01%

Ten (10) years

One

Sioux Falls, SD



HDR Engineering Inc.HDR Engineering specializes in engineering, architecture, environmental

and construction services. The company is most well-known for adding

beauty and structure to communities through high-performance buildings

and smart infrastructure.

Suite: Lease Expiration: Rentable Area: Pro Rata Share of Project: Original Term: Number of Locations:Headquartered:

401

August 31, 2027


15.66%

Est. September 1, 2020

200+

Omaha, NE


BUILDING PLAN | SIOUX FALLS, SD

Concept Plan Only;

Subject to Change

Wells FargoBank

Great WesternBankFirst National

Bank

Fountain

Patio

City Plaza

113113

113113

114

114

116

115115

113113

114

114

Scale: 1" = 20'-0"

Site Plan



Concept Plan Only;

Subject to Change

First Floor

Experity

Experity



Concept Plan Only;

Subject to Change

Second FloorEntire floor is leased by Experity



Concept Plan Only;

Subject to Change

Third FloorEntire floor is leased by Experity



Concept Plan Only;

Subject to Change

Fourth Floor

Entire floor is leased by HDR Engineering



Concept Plan Only;

Subject to Change

Fifth Floor

Sterling Trustees

Available



Concept Plan Only;

Subject to Change

Basement

Experity

Experity

Experity



The Plaza

DOWNTOWN STATS:2019 Residential & Commercial Building Permit Valuation: $48,800,000

(Source: Community Development)

Estimated Annual Pedestrians: 2,920,000

Estimated annual visitors to Falls Park & Downtown: 930,923

Downtown Employees: 9,230

Downtown Residents: 2,533

Informtaion provided by DTSF 2019 Annual Report



SIOUX FALLS

BROOKINGS

WATERTOWN

ABERDEEN

PIERRE

YANKTON

RAPID CITY

N

SIOUX FALLS 101 S PHILLIPS AVE

NORTHDAKOTA

SOUTHDAKOTA

NEBRASKA

IOWA

MINNESOTA

COLORADO

WYOMING

MONTANA


SIOUX FALLS DEMOGRAPHICS | MULTI-TENANT OFFICE BUILDING

PROJECTED POPULATIONYEAR SIOUX FALLS MSA

2025 201,800 325,391

2030 217,000 370,693

2035 233,200 422,608

AGE DISTRIBUTIONAGE (YEARS) SIOUX FALLS

0-19 28.1%

20-64 59.2%

65+ 12.6%

POPULATIONYEAR SIOUX FALLS MSA*2010 153,888 228,261

2014 165,800 240,202

2018 185,100 285,387

Sioux Falls is one of the fastest-growing areas in the nation with a population growth rate nearly four

times the national average. As the largest retail center between Denver and the Twin Cities, Sioux Falls

offers the consumer a vast selection of goods with thousands of retail stores scattered throughout the

metro area. Employing approximately 12.4 percent of the metro labor force, the retail sector has a

primary market area of 650,000+ consumers and draws shoppers from a four state area.

Source: City of Sioux Falls Planning Department

http://www.siouxfallsdevelopment.com/demographics.cfm

*Prior to December 31, 1992, the Sioux Falls Metropolitan Statistical Area consisted of Minnehaha County. On December 31, 1992, the Federal

Office of Management and Budget revised the MSA designation to include Lincoln County. The 2005-2012 MSA figures include the counties of

McCook & Turner.

Major Employers:

• Sanford Health - 9,542

• Avera Health - 8,298

• Smithfield Foods - 3,600

• Sioux Falls School District - 3,400

• HyVee Food Stores - 3,116

• Wells Fargo - 2,262

• Citi - 1,800

• Good Samaritan Society - 1,500

• Walmart/Sam’s Club - 1,460

MULTI-TENANT RETAIL STRIP CENTER ON 41ST STREET | LLOYD COMPANIES INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. | 23

SIOUX FALLS DEMOGRAPHICS | MULTI-TENANT RETAIL STRIP CENTER ON 41ST STREET

Forbes has also identified Sioux Falls as the nation’s top small city for

business and careers.

Forbes named Sioux Falls #20 in Job Growth, #30 in Cost of Doing

Business, #41 in Education and #1 in their 2015 top 10 list of Up and

Coming Cities for Recent College Grads.

Sioux Falls MSA has the 8th strongest local economy in the US, according

to POLICOM Corporation’s annual economic strength rankings in 2015.

WalletHub ranked Sioux Falls #1 in 2014 for “Wallet Wellness” which

gages the connection between physical, financial and emotional health,

#4 as best city for families in 2016, #4 as best city in America to find a

job in 2015, and #9 for best-run city in America in 2015.

League of American Bicyclists recognized Sioux Falls with a bronze-level

as a bicycle-friendly community.

MoneyRates.com classified Sioux Falls as #7 for Best Cities for Young

Entrepreneurs, in the top 10 nationally for Young Adult Affluence and #2

for Cities with Favorable Business Tax Climates.

In 2016, MSN Money listed Sioux Falls #10 in this list of the 25 Most

Livable Cities in the U.S.

Sioux Falls ranked #8 in 2015 for well-being, according to the

Gallup-Healthways 2015 Well-Being Index.

Sioux Falls was mentioned as one of 25 happiest, healthiest cities in

America by Prevention Magazine, winning the all-around healthiest

category due to its highest levels of self-reported health. Easy commutes,

low crime and unemployment, and good access to health insurance were

also highly recognized. Healthline also recognized Sioux Falls among their

top 10 list of Healthiest Small Towns in the U.S. in 2016.

Livability.com recognized Sioux Falls in the top ten for “Best Place to Live

in 2015”, mentioning its big-city mixture of culture, business and industry.

Sioux Falls came in at #6 in WalletHub’s 2018 Best-Run Cities in America

ranking. The list assessed 150 of the most populated cities nationwide by

comparing the services residents receive against the city's total budget. A

"quality of services" score was calculated according to 35 metrics related

to the categories of financial stability; education; health; safety; economy;

and infrastructure and pollution.

SmartAsset ranked Sioux Falls as the #1 US city for young professionals in

2017 and 2018. The ranking took into account the city's median gross

rent, five-year change in median earnings, entertainment and arts

establishments, job diversity, unemployment rate, labor-force participation

rate, and the number of people age 25 to 34 in the city.

SIOUX FALLS HIGHLIGHTS

Documents

Plaza Investment compressed...Total Gross Building Size 85,194 square feet on ﬂoors 1-5, plus 14,019 square foot base-ment Usable Building Size 75,716 Usable Square Feet +/-Rentable