Pier 1 imports. absolute nnn lease west virgina. For more info on this opportunity please contact: 150 Mall Road, Barboursville, WV Bob Sanner

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1 Pier 1 imports absolute nnn lease west virgina For more info on this opportunity please contact: John Andreini jandreini@capitalpacific.com (415) CA BRE# Rick Sanner rsanner@capitalpacific.com (415) CA BRE# Mall Road, Barboursville, WV Bob Sanner Chris kostanecki bsanner@capitalpacific.com (415) ck@capitalpacific.com (415) CA BRE# CA BRE# Capital Pacific collaborates. Click here to meet the rest of our San Francisco team.

2 absolute NNn pier 1 at below market rents in front of a regional mall The subject property is located in Barboursville, WV, which is 41 miles west of Charleston. It is located right off of interstate 64, a main east-west artery connecting West Virginia and Ohio. Investment Highlights PRICE: $1,633,077 CAP: 7.8% RENTABLE SF... 9,013 SF PRICE PER SF... $ LAND AREA Acres LEASE TYPE NNN YEAR BUILT seasoned location, strong anchors, and low rent Tenant has been operating at this location for 15 years and just renewed their lease for another 5 years, which indicates that this is a successful location for them Fiscal 2014 sales were $16.02 billion Tenant is paying only $13/ft. in rent Chipotle & Mattress Firm signed the most recent leases in the mall area at $30/ft. on a similar sized building Tenant is making upgrades to the building tenant $800 M in assets and a $450 M net worth Pier 1 has a 50-year operating history and has over 1,000 locations in North America lease highlights 5-year absolute net lease 10% rental increases in the option periods Zero landlord responsibilities Low rent pier 1 imports 2

3 strong location High way The subject property is located in Barboursville, WV, which is 41 miles west of Charleston. It is located right off of interstate 64, a main east-west artery, connecting West Virginia and Ohio HUNTINGTON MALL Wild Cat Big B Hollow R en B owen Dr ive ols ch d l Roa Mal 193 oad 64 Mud 64 Ni MERRITT CREEK FARM River Road , 64 Nichols Elementary Y AIL D 60 W d oa ll R Ma s Cr Cyru 60 eek BARBOURSVILLE CENTER d Roa 60 Village of Barboursville Elementary Barboursville Middle School ORCHARD HILL COUNTRY CLUB 64 CHARLESTON pier 1 imports 3

4 Pier 1 Imports pier 1 is the original global importer of imported decorative home furnishings and gifts About Pier 1 imports Pier 1 Imports, Inc. is a Texas-based retailer specializing in imported home furnishings and decor, table-top items, decorative accessories, and seasonal decor. Merchandise is imported, created in conjunction with foreign designers, or produced by Pier 1 s Trend and Product Development team. The chain operates over 1,000 stores in the US, Canada, and Mexico. The company is publicly traded on the New York Stock Exchange under ticker PIR. For fiscal 2014, net sales were $1.77 billion, net income was $107 million, and net worth was $449 million NET SALES $1.77 Billion NUMBER OF LOCATIONS 1,000+ NUMBER OF EMPLOYEES 17,000+ pier 1 imports 4

5 Site Photos pad to over 1.5 million square foot regional mall pier 1 imports 5

6 Income & Expense PRICE $1,633,077 Price Per Square Foot: $ Capitalization Rate: 7.80% Total Rentable Area (SF): 9,013 Lot Size (Acres): 1.45 Year Built: 1998 STABILIZED INCOME Per Square Foot Scheduled Rent $14.13 $127,380 Effective Gross Income $14.13 $127,380 LESS Per Square Foot Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses $0.00 EQUALS NET OPERATING INCOME $127,380 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. pier 1 imports 6

7 Rent Roll TENANT INFO LEASE TERMS RENT SUMMARY Tenant Name Sq. Ft. Term Current Rent Monthly Rent Monthly Rent/FT Yearly Rent/FT Pier 1 Imports 9,013 6/9/1998 6/30/2020 $127,380 $10,615 $14.13 $1.18 Option 1 7/1/2020 6/30/2025 $139,521 $11,627 $15.48 $1.29 Option 2 7/1/2025 6/30/2030 $152,680 $12,723 $16.94 $1.41 Option 3 7/1/2030 6/30/2035 $167,281 $13,940 $18.56 $1.55 Current Totals: 9,013 $127,380 $10,615 $14.13 $1.18 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. SURROUNDING RETAIL pier 1 imports 7

8 Site Plan Pier 1 imports Site Plan Not To Scale pier 1 imports 8

9 Surrounding Retail pier 1 imports 9

10 Regional Map Barboursville, WV Traffic counts in excess of 30,500 vpd on I-64 Columbus Pier 1 imports 30,500 DAILY Cincinnati 2.75 Hours 157 Miles Barboursville 41 Minutes 41.6 Miles Charleston pier 1 imports 10

11 Location & Demos Barboursville, WV Overview Barboursville, located in Cabell County, West Virginia, is a part of the Huntington-Ashland metropolitan area, which has a population of about 363,000 people. Barboursville is situated east of the town of Huntington, and about forty miles west of Charleston, the capital of West Virginia. Charleston and its surrounding area has seen a steady economic growth pattern, averaging about 21% over the past 10 years. Barboursville hosts the largest mall in West Virginia, the Huntington Mall. The mall is situated amongst various bars, restaurants, and gas stations making it a key focal point of travel within the state. Averaging over $375 million in retail trade, the mall continues to increase the city s budget and has led to an increase in public services provided for the residents. Barboursville is currently transforming from a small town to a small metropolis town, with the recent advancements of large retailers and the annual Fall Festival which attracts thousands of tourists for a week long celebration of various festivities Population 3-Mile 5-Mile 10-Mile ,134 30,977 94, ,573 31,781 95, ,968 32,549 97, Household incomes 3-Mile 5-Mile 10-Mile Average $67,088 $65,272 $56,542 Median $47,265 $48,411 $39,204 Top Employers in Barboursville Employer # of Employees* Marshall University 2,000 St. Mary s Hospital 2,000 Marathon Ashland Petroleum 1,700 Cabell-Hungtington Hospital 1,500 *Approximate pier 1 imports 11

12 A unique HUMAN RESULTS-DRIVEN client experience The capital pacific experience - our daily commitment to our clients [ ] John Andreini jandreini@capitalpacific.com (415) CA BRE# Bob Sanner bsanner@capitalpacific.com (415) CA BRE# Rick Sanner rsanner@capitalpacific.com (415) CA BRE# Chris kostanecki ck@capitalpacific.com (415) CA BRE# Copyright 2015 [Capital Pacific Real Estate Brokerage Company]