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Verizon for Sale145 Okatie Center Blvd. NorthHilton Head Island, SC / Savannah, GA Metro
FOR FURTHER INFORMATION
Joe Boydoffice 843.973.8283mobile 843.906.7751web [email protected]
125-GWappooCreekDriveCharleston,SC29412
phone (843)722.9925fax (843)722.9947web twinriverscap.com
LocatorMap .................................................................. 3
HighAerial .....................................................................4
LowAerial ..................................................................... 5
SiteAerial ...................................................................... 6
Site Plan ........................................................................7
PropertyInformation ....................................................8
Tenant&LeaseInformation ........................................9
Financials .................................................................... 10
AboutUs ...................................................................... 11
Table of Contents
145 Okatie Center Blvd. NorthOkatie, SC
Locator Map
OKATIE,SC
High Aerial
Hwy 278
Hwy
170
Hw
y 17
0
BuckwalterP
kwy
Hwy 278
toBluffton/HiltonHead
toI-95
Low Aerial
Hwy278/FordingIslandRd.26,100VPD
FutureFirstCitizensBank
ProposedRetailOkatieCrossings(approx.188acres)
Hw
y 17
0
SITE
Site Aerial
FutureFirstCitizensBank
SITE
Site Plan
PropertyandLocationHighlights
> 10 YEAR LEASE WITH 10% RENTAL INCREASE IN YEAR 6> 3,000 SF> 0.91 ACRES> CAP RATE: 6.0% > NN LEASE> LANDLORD RESPONSIBILITIES: ROOF, PARKING LOT & STRUCTURE> DIRECTLY OFF ROUTE 278, SURROUNDED BY RESTAURANTS, A GROCERY STORE, BANKS & HOSPITALS> GROWING LOCATION OUTSIDE OF SUN CITY, HILTON HEAD ISLAND> VPD: 26,100> HEAVY TRAFFIC LOCATION: > DRIVING SOUTH TO HILTON HEAD AND BLUFFTON (2.5 MILLION VISITORS ANNUALLY) > DRIVING WEST TO USCB HILTON HEAD GATEWAY CAMPUS
Property Information
HIGHLIGHTSPrime position on Highway 278, the main highway leading to Hilton Head and Bluffton, which welcome 2.5 million visitors annually.
DEMOGRAPHICS 1 Mile 3 Mile 5 MilePopulation 2,460 19,945 42,015Average HHI $62,555 $79,052 $79,759* Del Webb/Sun City within 1 mile has ~14,000 residents.
LEASEINFORMATION> Initial lease term of 10 years with a 10% bump in year 6
> Two 5-year options increasing at 10% each option period
TENANTPROFILE
Cellular SalesTenant: Cellular Sales of South Carolina, LLCGuarantor: Cellular Sales of Knoxville, Inc.
Cellular Sales of South Carolina, LLC is a wholly-owned subsidiary of Cellular Sales of Knoxville, Inc. (CSOK), who corporately guarantees the Lease. CSOK originally began in 1993 as an exclusive retailer for Verizon and has grown to be the largest Verizon Wireless Authorized Retailer in the United States. Cellular Sales operates more than 600 retail stores across the U.S. with annual revenue exceeding $1 billion, 19 years of consecutive growth and listed as one of the fastest growing retailers by Inc. Magazine.
VerizonVerizon Communications Inc. (NYSE: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, serving over 100 million customers nationwide. Verizon also provides converged communications, informa-tion and entertainment services over America’s most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. The company made $120.550 billion annual revenue in 2013.
Revenue (Q2 2014): $31.5 billionNumber of Employees: 176,800 worldwideS&P Rating: A
Tenant & Lease Information
Financials
Rent Roll Tenant: Cellular Sales of South Carolina, LLC NN Lease 145 Okatie Center Blvd. North
Price SummaryPrice $2,125,000
Cap Rate 6.00%
Initial Term Blended Cap: 6.30%
TENANT BUILDINGSQ FT
LEASE START/EXPIRATION
RENT PERSQ FT
MONTHLYRENT
ANNUALRENT OPTIONS
Cellular Salesdba: Verizon
Wireless3,000
SFDecember 2017 - December 2027
Years 1 – 5:$42.50
Years 6 – 10:$46.75
Years 1 – 5: $10,625.00
Years 6 – 10: $11,687.50
Years 1 – 5: $127,500.00
Years 6 – 10: $140,250.00
Two 5-year options
increasing 10% every
option periodExtension Option 1
Years 11-15$154,275.00
Extension Option 2Years 16-20$169,702.50
TRC provides national retailers with a comprehensive solution for growing their business by developing new locations.
FAMILY DOLLARAUTOZONE
MCDONALD’SVERIZON
WALMARTDOLLAR TREE
DICK’SAT&T
HOBBY LOBBYSTARBUCKS
DUNKIN’ DONUTSEDWARD JONES
YOURTWINRIVERSCAPITALCONTACT
Joe BoydJoe is responsible for all property and asset management and is also involved in property sales.
With over 25 years of experience in property management, Joe has served as Property Manager for numerous lifestyle centers and super-regional malls, including properties held by Madison Marquette Realty Services, CBL Properties and The Jacobs Group.
Joe received his Bachelor’s Degree from Grove City College and his MBA from Indiana University of Pennsylvania. He received his CSM in 1995, his CMD in 1997 and his SC Realtor’s License in 2008.
OFFICE 843.973.8283MOBILE 843.906.7751EMAIL [email protected] twinriverscap.com
About Us
ClientRoster
TWINRIVERSCAPITAL,LLC
Twin Rivers Capital, LLC is a privately held real estate investment, development and brokerage company, founded in 2002 and headquartered in Charleston, SC. Focusing on the growth regions of the Southeastern US, TRC provides national retailers with a comprehensive solution for adding new locations. TRC has developed more than 1.2 million SF of real estate with values in excess of 180 million. TRC also handles third party brokerage, including tenant and landlord representation and investment brokerage services in FL, GA, SC, NC, VA, TN and AL.
BuildtoSuit•JVPrograms•PreferredDeveloperforNationalRetailersBrokerage•FeeDevelopmentPrograms
