Embed Size (px)
Citation preview
Broker AssociateD. [email protected]
HARRY BELL
W. 4TH STREETW . 4 T H S T R E E T , B E N S O N A Z , 8 5 6 0 2
E X C L U S I V E L A N D I N V E S T M E N T O P P O R T U N I T Y / / C O N F I D E N T I A L O F F E R I N G M E M O R A N D U M
• 2 • BERKSHIRE HATHAWAY PENFED REALTY COMMERCIALDIVISION
PROPERTY INFORMATION 31.
4Property Description5Land Overview6Aerial Map7Site Plan8Photos
LOCATION INFORMATION 92.
10Benson Market Overview11Benson Market Overview12Retail Market Overview13Tuscon Highlights14Regional Map15Location Maps
T A B L E O F C O N T E N T S
All materials and information received or derived from Berkshire Hathaway PenFed Realty Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided withoutrepresentation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability,financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.
Neither Berkshire Hathaway PenFed Realty Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the anymaterials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conductof its own due diligence to determine these and other matters of significance to such party. Berkshire Hathaway PenFed Realty Commercial will not investigate or verify any such matters or conduct duediligence for a party unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third partyindependent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriateindependent professionals. Berkshire Hathaway PenFed Realty Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data orassumptions. Berkshire Hathaway PenFed Realty Commercial does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance,including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily meanthat rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order todetermine rents from or for the property.
Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by theparty with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party withappropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Berkshire Hathaway PenFed Realty Commercial in compliance with allapplicable fair housing and equal opportunity laws.
• 3 •
/ 3
BERKSHIRE HATHAWAY PENFED REALTY COMMERCIALDIVISION
PROPERTY INFORMATION
P R O P E R T Y I N F O R M A T I O N
• 4 •PROPERTY INFORMATION
PROPERTY OVERVIEWThe commercial land is available in 10 separate 1 acre lots, oravailable to purchase as the 10 acres total. The offering is one taxparcel, which according to public record contains ±10.61 acres.The parcel is located at the corner of Business I-10 (4th Street)and Prickly Pear Road. Business I-10, at the Property, is afive-lane road (two lanes in each direction and a center left-handturn lane). The topography of the site is level and at, or close to,road grade with respect to Business I-10, also called 4th Street,and Prickly Pear Road.
PROPERTY HIGHLIGHTSThe available land is centrally located within the retail corridor inBenson, Arizona with great access to the Cochise and EasternPima County trade areas. Located directly behind O'Reilly's AutoParts and across the street from the Walmart Supercenter, thislocation offers a great investment opportunity in the Benson area.Benson is within an easy 45 minute commute to all primarybusiness districs of Tucson and the University of Arizona. Bensonhas a mild winter climate and is considered to be a desirable placeto live and offers tourists a wide variety of recreational, historic,and scenic sites. Excellent investment returns for the buyer withstrong national anchors nearby and great visibility off BusinessLoop I-10. Starting in 2016 the new 28,000 housing development,Villages at Vigneto, will be coming to Benson, AZ. Thisdevelopment will bring new residents, jobs, and professionalbusinesses to one of Arizona's best cities.
• Located between Exit 303 & 304 off of Business Loop I-10.
• Direct access to I-10 at the SEC of Business I-10 andPrickly Pear Road.
• 24.0 miles to Tombstone, Arizona
• 25.0 miles to SE metropolitan Tucson, Arizona
• 35.0 miles to Sierra Vista, Arizona & U.S. Army Ft. Huachuca
• 35.0 miles to Wilcox, Arizona
• 42.0 miles to Tucson International Airport
• 43.0 miles to Davis-Monthan Air Force Base
• 45.0 miles to Downtown Tucson, Arizona
• 47.0 miles to the University of Arizona
W. 4TH STREET
P R O P E R T Y D E S C R I P T I O N
BENSON, AZ 85602
O F F E R I N G M E M O R A N D U M
• 5 •PROPERTY INFORMATION
W. 4TH STREET
L A N D O V E R V I E W
BENSON, AZ 85602
O F F E R I N G M E M O R A N D U M
LOT PRICE ACRES1 $400,000 12 $400,000 13 $300,000 14 $300,000 15 $300,000 16 $300,000 17 $225,000 18 $225,000 19 $125,000 110 $125,000 1
BULKSALE $1,500,000 10.6 ACRES
10 Acres
• 6 •PROPERTY INFORMATION
W. 4TH STREET
A E R I A L M A P
BENSON, AZ 85602
O F F E R I N G M E M O R A N D U M
• 7 •PROPERTY INFORMATION
W. 4TH STREETBENSON, AZ 85602
S U R V E Y
O F F E R I N G M E M O R A N D U M
• 8 •PROPERTY INFORMATION
W. 4TH STREET
P H O T O S
BENSON, AZ 85602
O F F E R I N G M E M O R A N D U M
• 9 •
/ 9
BERKSHIRE HATHAWAY PENFED REALTY COMMERCIALDIVISION
LOCATION INFORMATION
L O C A T I O N I N F O R M A T I O N
• 10 •LOCATION INFORMATION
RETAIL: Retail sales occurring within incorporated Benson appear to have corrected from the declines that wereexperienced in late 2007 and early 2008. Retail sales tax collections for the City were up 3.8 percent in2012 which was the first annual increase since 2007. Statewide statistics for retail sales in 2013 werereported to have increased and are consistent with statewide statistics which were up 6.4 percent. Withrespect to the tourism component of the local economy, Benson’s accommodation sales in 2012 weredown 13.7 percent, but increased in five of the seven months ended in January 2013. Like retail sales,accommodation sales for all of 2013 again followed statewide trends which were up by 18.0 percent andmore recently up 33.0 percent from June 2013 to June 2014.
PRICE / ACRE: $150,000
EMPLOYMENT: Major employers in Benson proper are Arizona Electric Power Cooperative, Inc., ApacheNitrogen Products, Benson Schools, Benson Hospital, Walmart and Safeway. For Cochise Countythe major employers are Fort Huachuca, Cochise County, General Dynamics Information Technology,Eurofresh, Sierra Vista Unified School District, Sierra Vista Regional Health Center, Arizona StatePrison Complex, Douglas Unified School District, Cochise College and theUnited States Customs and Border Protection. In addition to retail chain stores, there are severalunique specialty shops found on the main 4th street that offers a variety ofgoods. Many residents, however, commute to Tucson and Sierra Vista for employment. Benson's TopEmployers include G&T Cooperatives, WalMart, Benson Unified School District, Benson HospitalCorporation and Southeastern Arizona Behavioral Health Services.Employment Statistics: (Total Payroll $86,930,000)Management/Professional 29.8%Sales/Office 27.6%Service 23.9%Production/Transportation 10.6%Construction/Extraction/Maintenance 7.0%
DEMOGRAPHICS: With an estimated population of 5,085 as of July 2013, Benson accounts for 3.9percent of the county-wide population. Economically the city functions as part of a larger integratedcommunity with a total population of more than 12,500, including St. David, Mescal, Pomerene, andother nearby unincorporated areas. To add to the year round residents, the weather and nearby historicand scenic sites are cause to the area population swelling considerably from October through April eachyear. Many of these winter visitors reside in RV/travel trailer parks. As of the 2007-2011 AmericanCommunity Survey, 8.4 percent of housing units in Benson were classified as “Boat, RV, van, etc.”compared to only 1.4 percent county-wide. The presence of seasonal visitors is a distinct cultural andeconomic characteristic of Benson.
W. 4TH STREET
B E N S O N M A R K E T O V E R V I E W
4TH ST AND PRICKLY PEAR BENSON AZ, 85602
O F F E R I N G M E M O R A N D U M
• 11 •LOCATION INFORMATION
INCOME: Average Household Income: $38,393 (2009)Median Housing Value: $86,921 (2009)
ECONOMIC: Cost of Living 81.3: (U.S. Average: 100)Total Employment: 2,350 of 2,749 potential workers (ADOC estimates, 2010)Assessed Valuation: $45,889,325 (2012)Retail Sales: $105,000,000 (2012)Taxable Sales: $115,000,000 (2012)Unemployment: 14.5% (August 2012)
PRICE / ACRE: $150,000
WEATHER: Typical: Warm, dry and sunnyAverage Rainfall: 11.3 inchesAverage High Temp.: 80.3 degreesAverage Low Temp.: 45.2 degreesSunny Days per Year: 278
SAFETY: Crime Rate: 32.6 crimes per 1000 residents (2008)Officers per 1000 population: 2.90Arizona Average: 1.97
EDUCATION: Cochise CollegeBenson Primary SchoolBenson Middle SchoolBenson High SchoolNew West SchoolSan Pedro Valley SchoolGrace Christian AcademyHigh School Graduates: 77.1%College Degrees: 14.7%Postgraduate/Professional Degrees: 3.6%
HEALTH: Benson Hospital, Sierra Vista Regional Health Center, Southeast Arizona Medical Center and NorthernCochise Community Hospital
W. 4TH STREET
B E N S O N M A R K E T O V E R V I E W
BENSON, AZ 85602
O F F E R I N G M E M O R A N D U M
• 12 •LOCATION INFORMATION
RETAIL MARKET OVERVIEWBenson and Cochise County do not maintain a consistentcollection of retail performance data. In the absence of such data,it is generally observed that trends in the adjacent Pima County,and more specifically the Tucson MSA, are usually demonstratedin Cochise County and in its various incorporated areas. With thissaid, the larger community of Sierra Vista is the only incorporatedtrade area where the performance of the retail real estatesubmarket is considered be close to par with Tucson in terms ofoverall vacancy and rent strength. Smaller interdependentcommunities such as Benson, Bisbee and Douglas generallydemonstrate higher overall vacancy rates and tend to commandlower rental rates compared to the average of both Sierra Vistaand Tucson. The following is a summary of the retail performancemost recently reported for the Tucson MSA.As of the 3rd Quarter2014 the retail vacancy rate reported for the Tucson MSA was 6.5percent, which is the same as reported for the previous quarterand a slight improvement over the 7.0 percent rate posted for the4th Quarter 2013. Retail absorption for the 3rd Quarter of 2014was moderate with a positive net absorption of 82,749 squarefeet. This followed a net absorption of 110,172 square feet that wasreported for the 2nd Quarter of 2014. It appears that a partialcomponent to the improved retail vacancy performance of themarket is that rental rates have decreased slightly. As of the 3rdQuarter 2014, the average asking rate for the overall Tucson MSAwas reported to be $14.35/square foot, NNN. This compares tothe $14.53/square foot rate posted a quarter earlier and a 1.2percent decrease from the rate reported for the 3rd Quarter 2013.The latent effects of the market downturn in late 2007 and 2008,along with sluggish average rental rates have dampened demandfor most inventory growth with most new inventory being freestanding/single tenant user driven development. With the new28,000 housing development coming in 2016 to Benson, it isexpected that this will impact and drive sales in the retailers ofBenson, AZ.
http://www.bensonnews-sun.com/news/article_dc63f84c-e2e3-11e4-839f-13a0b3515c1a.html
W. 4TH STREET
R E T A I L M A R K E T O V E R V I E W
BENSON, AZ 85602
O F F E R I N G M E M O R A N D U M
• 13 •LOCATION INFORMATION
TUSCON, AZ HIGHLIGHTS
• July 2014 - Tucson named a top Southwest city for millennials.
• August 2013 - Tucson ranks as one of the Top 5 Cities forentrepreneurs, by Entrepreneur magazine.
• August 2013 - Tucson ranks #2 on the list of the top 20 citiesfor 20-somethings.
• April 2013 - Fast Company ranks Arizona #4 overall in the“United States of Innovation” based on many factors, includingits thriving business startup community.
• January 2013 - CareerBliss ranks Tucson #2 City to Find a Job,based on happiness data, employment trends and jobopenings.
• June 2012 - Arizona ranks #1 in the nation for rate ofentrepreneurial activity. The Kauffman Index ofEntrepreneurial Activity found that people in Arizona weremore likely to launch businesses than residents of any otherstate in the country in 2011.
• June 2012 - Richard Florida ranks Tucson a Top 20 CreativeCity in his Daily Beast article “Boulder, Ann Arbor, Tucson &More: 20 Most Creative U.S. Cities”
• August 2011 - Business Facilities magazine named Tucson No.6 on its list of the top 10 metro areas for aerospace/defensemanufacturing.
W. 4TH STREET
T U S C O N H I G H L I G H T S
BENSON, AZ 85602
O F F E R I N G M E M O R A N D U M
• 14 •LOCATION INFORMATION
W. 4th Street
W. 4TH STREET
R E G I O N A L M A P
BENSON, AZ 85602
O F F E R I N G M E M O R A N D U M
• 15 •LOCATION INFORMATION
W. 4TH STREET
L O C A T I O N M A P S
BENSON, AZ 85602
O F F E R I N G M E M O R A N D U M
![[VERACITY] behind stories of japan location](https://img.pdfslide.us/doc/110x75/568bd7851a28ab2034a003b9/veracity-behind-stories-of-japan-location.jpg)
