THE BULLS-EYE SHOPPING CENTER · THE BULLS-EYE SHOPPING CENTER OFFERING MEMORANDUM ALBERT MCNEEL, SIOR. 210.918.6397 direct 210.210.4590 mobile. [email protected]. WILLIE KEMPF

THE BULLS-EYE SHOPPING CENTER

OFFERING MEMORANDUM

ALBERT MCNEEL, SIOR210.918.6397 direct210.210.4590 [email protected]

WILLIE KEMPF210.918.6403 direct830.931.5610 [email protected]

Presented by:

3504 JACKSON STREET, ALEXANDRIA, LA 71303

Address: 3504 Jackson StreetAlexandria, LA 71303

Building Size: ± 6,400 sf

Lot Size: .68 acre

Year Built: 2016

Occupancy: 100%

EXECUTIVE SUMMARY



LOCATION• Highly visible, hard corner location• Excellent traffic counts with ±58,000 vpd • Surrounded by many daily traffic generators: Alexandria Mall, CHRISTUS St.

Frances Cabrini Hospital, Schools, Chick-fil-A, and many others• Convenient ingress/egress

MARKET• Located in Alexandria’s most active retail corridor• Strong demographics in the trade area• ±90,000 residents within15 minutes of the property

MANAGEMENT• Recent development featuring low maintenance construction• Rental increases during initial term and option period• Tenant reimburses 100% for CAM, taxes and insurance

NATIONALLY RECOGNIZED TENANTS• Mattress Firm has ±2,600 locations across 49 states• Verizon Franchisee has ±1,000 locations across 45 states

2 | The Bulls-Eye Shopping Center

ALBERT MCNEEL, SIOR210.918.6397 direct

210.210.4590 [email protected]

WILLIE KEMPF210.918.6403 direct


The Bulls-Eye Shopping Center | 3

INVESTMENT OVERVIEW

THE OPPORTUNITYLocated in Alexandria, LA, Endura is pleased to present a recently constructed two-tenant center for sale. This opportunity features two nationally recognized brands; Mattress Firm and Verizon Wireless. The leases are Landlord friendly, with the tenants reimbursing for CAM, taxes, and insurance. Hedging against inflation, both leases offer healthy increases during the initial term and option periods. The property sits at one of the major intersections in all of Alexandria. The center has excellent visibility and is surrounded by many daily traffic generators: Walmart, Sam;s Club, Kroger Grocery, Academy Sports & Outdoors, and the Alexandria Mall.

ABOUT ALEXANDRIA, LA (RAPIDES PARISH)Alexandria is one of the largest cities in the state of Louisiana and is the parish seat of Rapides Parish (pronounce ra-peeds). It lies on the south bank of the Red River in almost the exact geographic center of the state. It is the principal city of the Alexandria metropolitan area (population 153,984 (2017)) which encompasses all of Rapides and Grant parishes.

Situated just south of Alexandria is Louisiana State University-Alexandria, a regional campus of LSU. The Southern Baptist affiliated College is also located nearby. Within the city is the Garden District, containing many large historical homes and brick roads. As Alexandria is at the cusp of Cajun culture’s extension to the north, the city recognized Mardi Gras as an official holiday and a major cul-tural festivity. Other points of interest include Alexandria Zoological Park and Cotlie Lake and Indian Creek Recreational Areas.

The Alexandria workforce consists of ±55,000 residents. Union Tank Car Compa-ny has recently located a plant northwest of Alexandria near the airport creating hundreds of jobs. Expansions at the Procter & Gamble plant and the construction of a PlastiPak plant in nearby Pineville have also created a number of new jobs for the area.

±58,000 vpd

±90,000 = 15 min

±58,000 vehicles drive directly by the site each day on

Jackson St & MacArthur Dr

This affluent area has ±90,000 residents within 15 minutes

of the property




TENANT OVERVIEW

As of 2016, the company operated over 3,600 locations in 48 U.S. states. On October 5, 2018, Mattress Firm filed for Chapter 11 bankruptcy. The company planned to close 200 unprofitable stores and is said it was considering closing up to 500 other stores out of the more than 3,300 it operated at that time. In November 2018, Mattress Firm emerged from Chapter 11 Bankruptcy and continues to operate it’s profitable stores.

After successfully navigating the Chapter 11 process and re-structuring the lease at this location, investors have the opportunity to purchase a net leased investment with market rents in place rather than over-inflated, above market rents that cannot be replaced. Mattress Firm remains one of the most recognizable brands in the industry and is a great addition to any investors net leased portfolio.

Demised Premises: ± 4,000 sf

Lease Term: 8 years remaining (11 year lease commenced Aug 2016)

Renewal Option(s): Two, 5-year renewals

Annual Base Rent: Year 1-5 $28.39 $113,560Year 6-11 $31.22 $124,880

Option Rent: Option 1 (12-16) $34.35 $137,400Option 2 (17-21) $37.79 $151,160

Increases: 10% Increase after year 5 and in each option period

Company Structure: PrivateHeadquarters: Houston, TXLocations: 2,600 (2018)Employees: 10,000 (2018)Website: http://www.mattressfirm.com/






TENANT OVERVIEW

Verizon Wireless is the second largest U.S. wireless communications service provider as of April 2019, with 153.1 million mobile customers. And as of 2017, Verizon is the only publicly traded telecommunications company to have two stock listings in its home country, both the NYSE (principal) and NASDAQ (secondary). As of 2017, it is also the second largest telecommunications compa-ny by revenue after AT&T. Additionally, Verizon is poised to advance its market standing with accelerated testing and development in the next wave of 5G service.

The new lease is signed by A Wireless, on of Verizon’s largest franchisees with 1,145 locations across 45 states. A Wireless is the leading exclusive premium retailer for Verizon, including being honored as Agent of the Year in 2016. Their knowledgeable and dedicated store consultants and managers offer a full range of wireless devices including phones, tablets, mobile broadband, wearable technology, accessories and product insurance. Getting the best performance for this technology matters, and Verizon delivers. RootMetrics® has rated Verizon the #1 network in the United States, Verizon swept all six network in the United States. Verizon swept all six network categories for all of 2016 - including reliability, data, speed, call, text and overall performance - an industry first since testing began.

Demised Premises: ± 2,400 sf

Lease Term: 3.5 years remaining (5 year lease commenced Oct 2017)

Renewal Option(s): Two, 5-year renewals

Annual Base Rent: Year 1-5 $27.00 $64,800

Option Rent: Option 1 (6-10) $29.70 $71,280Option 2 (11-15) $32.67 $78,408

Increases: 10% Increase in each option period

Company Structure: Public (NYSE: VZ)Headquarters: New York City, New YorkEmployees: Over 162,000Revenue: $125.98 Billion (2016)Website: http://www.verizonwireless.com/

DEMOGRAPHICS

COLISEUM BLVD

ALEXANDRIAINTERNATIONALAIRPORT




1 Mile 3 Mile 5 MilePOPULATION2019 Total Population: 6,835 45,984 63,0052024 Population: 6,719 45,812 62,681Population Growth 2019-2024: (1.70%) (0.37%) (0.51%)Average Age: 40.7 37.9 37.6

HOUSEHOLDS2019 Total Households: 3,035 17,732 24,265Household Growth 2019-2024: (1.55%) (0.41%) (0.52%)Median Household Income: $53,702 $36,763 $35,498Average Household Size: 2.2 2.4 2.52019 Average Household Vehicles:

2.0 1.0 1.0

HOUSINGMedian Home Value: $171,915 $142,757 $135,117Median Year Built: 1968 1969 1969

DAYTIME EMPLOYMENTTotal Businesses: 1,238 4,001 4,578Total Employees: 9,980 40,501 47,102

VEHICLE TRAFFICUS Hwy 71 @ State Rt 28: 37,058 vpdUS Hwy 71 @ Masonic Circle: 30,557 vpdJackson St @ Lancaster Dr: 29,070 vpd

AERIAL VIEW






JACKSON ST

165

49

RED RIVER

167

S MACARTHUR DR

28


SCOTT M BRAME MIDDLE SCHOOL

DF HUDDLEELEMENTARY

SCHOOL

PINEVILLEHIGH

SCHOOL




FINANCIALS

INVESTMENT OFFERING

Purchase Price: $2,645,000

Cap Rate: 6.75%

Acreage: .68 Acre

Year Built: 2016

PRO-FORMA

Gross Rent: $178,360

CAM Reimbursement: $41,375

Operating Expenses: ($8,447)

Insurance: ($10,938)

Property Tax at Sales Price: ($21,990)

NOI: $178,60






CONFIDENTIALITY DISCLAIMER

This CONFIDENTIAL OFFERING MEMORANDUM (“Memorandum”) is being furnished to the recipient (the “Recipient”) solely for the Recipient’s own limited use and benefit in considering the purchase of The Bulls-Eye Shopping Center located at 3504 Jackson Street, Alexandria, LA 71303.

This Memorandum was prepared by Willie Kempf and Albert McNeel (“Agents”) solely for the use of prospective purchasers of the The Bulls-Eye Shopping Center, 3504 Jackson Street, Alexandria, LA 71303 (the “Property”). This Memorandum does not purport to be all inclusive or to contain all the information which Recipient may desire. In this Memorandum, certain documents are described in summary form. The summaries do not purport to be complete, accurate descriptions of the full agreements involved, nor do they purport to constitute a legal analysis of the provisions of the documents. It should be noted that all financial projections are provided for general reference purposes only as they are based on assumptions relating to competition, the general economy, and other factors beyond the control of the Agents and , therefore, are subject to material variation. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective investors.

The Recipient agrees that (a) the Memorandum and its contents are Confidential information, except for such information con-tained in the Memorandum which is a matter of public record, (b) the Recipient, the Recipient’s employees, agents and consultants (Collectively, the (“need to know”) will hold and treat it in the strictest confidence, and the Recipient and the need to know parties will not, directly or indirectly, disclose or permit anyone else to disclose its contents to any other person, firm or entity without the prior written authorization of the Agent, and (c) the Recipient and the need to know parties will not use or permit to be used this Memorandum or its contents in any fashion or manner detrimental to the interest of the Agent or for any purpose. The Recipient and the need to know parties agree to keep this Memorandum and all Confidential information contained herein permanently con-fidential and further agree to use this Memorandum for the purpose set forth above.

The terms and conditions stated in this section will relate to all of the sections of the Memorandum as if stated independently there-in. If, after reviewing this Memorandum, you have no further interest at this time, please destroy all copies of the Memorandum at your earliest possible convenience.

PHOTOCOPYING OR OTHER DUPLICATION IS STRICTLY PROHIBITED.

THE AGENT EXPRESSLY RESERVES THE RIGHT, AT ITS SOLE DISCRETION, TO REJECT ANY OR ALL PROPOSALS OR EXPRESSIONS OF INTEREST IN THE PROPOSED AND TO TERMINATE DISCUSSIONS WITH ANY PARTY, AT ANY TIME, WITH OR WITHOUT NOTICE.

THIS CONFIDENTIAL MEMORANDUM SUBMISSION SHALL NOT BE DEEMED TO BE A REPRESENTATION OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OF PREPARATION OF THIS CONFIDENTIAL OFFERING MEMORANDUM.


11-2-2015

Information About Brokerage ServicesTexas law requires all real estate license holders to give the following informa on about

brokerage services to prospec ve buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS: .• A BROKER is responsible for all brokerage ac vi es, including acts performed by sales agents sponsored by the broker. • A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker’s own interests; • Inform the client of any material informa on about the property or transac on received by the broker; • Answer the client’s ques ons and present any o er to or counter-o er from the client; and • Treat all par es to a real estate transac on honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a wri en lis ng to sell or property management agreement. An owner's agent must perform the broker’s minimum du es above and must inform the owner of any material informa on about the property or transac on known by the agent, including informa on disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a wri en representa on agreement. A buyer's agent must perform the broker’s minimum du es above and must inform the buyer of any material informa on about the property or transac on known by the agent, including informa on disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the par es the broker must rst obtain the wri en agreement of each party to the transac on. The wri en agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obliga ons as an intermediary. A broker who acts as an intermediary:

• Must treat all par es to the transac on impar ally and fairly; • May, with the par es' wri en consent, appoint a di erent license holder associated with the broker to each party (owner and

buyer) to communicate with, provide opinions and advice to, and carry out the instruc ons of each party to the transac on. • Must not, unless speci cally authorized in wri ng to do so by the party, disclose:

that the owner will accept a price less than the wri en asking price; that the buyer/tenant will pay a price greater than the price submi ed in a wri en o er; and any con den al informa on or any other informa on that a party speci cally instructs the broker in wri ng not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transac on without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner rst.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker’s du es and responsibili es to you, and your obliga ons under the representa on agreement. • Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This no ce is being provided for informa on purposes. It does not create an obliga on for you to use the broker’s services. Please acknowledge receipt of this no ce below and retain a copy for your records.

Licensed Broker /Broker Firm Name or Primary Assumed Business Name

License No. Email Phone

Designated Broker of Firm License No. Email Phone

Licensed Supervisor of Sales Agent/Associate


Sales Agent/Associate’s Name License No. Email Phone

Regulated by the Texas Real Estate Commission

Buyer/Tenant/Seller/Landlord Initials

Informa on available at www.trec.texas.gov IABS 1-0

Date

Endura Advisory Group, GP, LLC 581037 [email protected] (210) 366-2222

James G. Lundblad 337803 [email protected] (210) 366-2222


William Kempf 617303 [email protected] (210) 366-2222

11-2-2015

Information About Brokerage ServicesTexas law requires all real estate license holders to give the following informa on about

brokerage services to prospec ve buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS: .• A BROKER is responsible for all brokerage ac vi es, including acts performed by sales agents sponsored by the broker. • A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker’s own interests; • Inform the client of any material informa on about the property or transac on received by the broker; • Answer the client’s ques ons and present any o er to or counter-o er from the client; and • Treat all par es to a real estate transac on honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a wri en lis ng to sell or property management agreement. An owner's agent must perform the broker’s minimum du es above and must inform the owner of any material informa on about the property or transac on known by the agent, including informa on disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a wri en representa on agreement. A buyer's agent must perform the broker’s minimum du es above and must inform the buyer of any material informa on about the property or transac on known by the agent, including informa on disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the par es the broker must rst obtain the wri en agreement of each party to the transac on. The wri en agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obliga ons as an intermediary. A broker who acts as an intermediary:

• Must treat all par es to the transac on impar ally and fairly; • May, with the par es' wri en consent, appoint a di erent license holder associated with the broker to each party (owner and

buyer) to communicate with, provide opinions and advice to, and carry out the instruc ons of each party to the transac on. • Must not, unless speci cally authorized in wri ng to do so by the party, disclose:

that the owner will accept a price less than the wri en asking price; that the buyer/tenant will pay a price greater than the price submi ed in a wri en o er; and any con den al informa on or any other informa on that a party speci cally instructs the broker in wri ng not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transac on without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner rst.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker’s du es and responsibili es to you, and your obliga ons under the representa on agreement. • Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This no ce is being provided for informa on purposes. It does not create an obliga on for you to use the broker’s services. Please acknowledge receipt of this no ce below and retain a copy for your records.

Licensed Broker /Broker Firm Name or Primary Assumed Business Name


Designated Broker of Firm License No. Email Phone

Licensed Supervisor of Sales Agent/Associate


Sales Agent/Associate’s Name License No. Email Phone

Regulated by the Texas Real Estate Commission

Buyer/Tenant/Seller/Landlord Initials

Informa on available at www.trec.texas.gov IABS 1-0

Date

Endura Advisory Group, GP, LLC 581037 [email protected] (210) 366-2222



Albert McNeel 451316 [email protected] (210) 366-2222



Presented by:

THE BULLS-EYE SHOPPING CENTER3504 JACKSON STREET, ALEXANDRIA, LA 71303

Documents

THE BULLS-EYE SHOPPING CENTER · THE BULLS-EYE SHOPPING CENTER OFFERING MEMORANDUM ALBERT MCNEEL, SIOR. 210.918.6397 direct 210.210.4590 mobile. [email protected]. WILLIE KEMPF