AT&T Strip Center for Sale Value-Add Opportunity 2141 Whiskey Rd. Aiken, SC
Table of Contents FOR FURTHER INFORMATION Joe Boyd office 843.973.8283 mobile 843.906.7751 web joe@twinriverscap.com AT&T Center 2141 Whiskey Rd. Aiken, SC Locator Map... 3 Area Traffic Generators...4 High Aerial...5 125-G Wappoo Creek Drive Charleston, SC 29412 phone (843) 722.9925 fax (843) 722.9947 web twinriverscap.com Mid Aerial...6 Site Aerial... 7 Site Plan...8 Property Information...9 Tenant & Lease Information... 10 Financials... 11 Income & Expense Analysis... 12 About Us... 13
AIKEN, SC Locator Map
Area Traffic Generators
PMS Black High Aerial Black PMS Aiken Mall SITE Multi-Family Development Black (under construction) PMS Black Found from website Recreate PMS (proposed) Black From PDF Recreate PMS Logo with Registration Marks
Mid Aerial PMS Black Black Aiken Mall PMS SITE Found from website Recreate PMS Black PMS Black Multi-Family Development (proposed) (under construction) From PDF Black Recreate PMS Logo with Registration Marks
Site Aerial
Site Plan AVAILABLE S.C. Hwy. 19 (Whiskey Rd.)
Property Information Property and Location Highlights AIKEN, SC Aiken, SC is the county seat of Aiken County, and is part of the Augusta-Richmond County MSA. Aiken is home to the University of South Carolina at Aiken, which was ranked #1 among top public regional colleges in the South in the 2016 edition of U.S. News & World Report s guide, America s Best Colleges. One of Aiken s major employers is the Savannah River Site. The site was selected by the United States Atomic Energy Commission in 1950 for building a plant to produce fuel for thermonuclear weapons. The facility contains five production reactors, fuel fabrication facilities, a research laboratory, heavy water production facilities, two fuel reprocessing facilities and tritium recovery facilities. Aiken also has a bustling tourism industry, particularly related to horse racing. The Aiken Steeplechase Association, founded in 1930, hosts the Imperial Cup each March and the Holiday Cup in October, both of which are steeplechase races sanctioned by the National Steeplechase Association. These events show attendances of more than 30,000 spectators. DEMOGRAPHICS 1 Mile 3 Mile 5 Mile Population 6,251 28,383 50,409 Average HHI $66,154 $84,506 $74,348 > HIGH TRAFFIC LOCATION BETWEEN WALMART SUPERCENTER AND AIKEN MALL > 37,200 VPD > #1 RETAIL CORRIDOR IN AIKEN MSA WITH 1 MILLION + SF > 100 FEET OF FRONTAGE ON WHISKEY RD WITH MONUMENT SIGN AND ACCESS TO SIGNALIZED INTERSECTION > 77% LEASED; VALUE-ADD OPPORTUNITY > RENTAL INCREASES > BRICK CONSTRUCTION
Tenant & Lease Information TENANT PROFILES AT&T Credit rating: A from S&P #10 on Fortune 500 #1 telecommunications company in the US, based on revenue Named Most Admired Telecommunications Company in the World, 2016 by FORTUNE Magazine (2nd year in a row) One of the 30 stocks that makes up the Dow Jones Industrial Average Revenue: 146.8 billion USD (2015) Website: att.com Employees Worldwide: 281,450 NYSE Symbol: T LEASE INFORMATION AT&T > 10 year initial term extended 5 years. New expiration date of January 31, 2023. > Two additional 5 year options with 10% increase. Edward Jones > 5 year initial term. Exercised option early. New term expiration date is June 30, 2019. > 2% annual increases each July. Edward Jones Ranked #6 on 100 Best Companies to Work For List - FORTUNE, March 2015 (16th year on the list) Ranked Highest in Investor Satisfaction - J.D. Power 2015 Full Service Investor Satisfaction Survey #444 on Fortune 500 List, June 2014 Website: edwardjones.com Number of Locations: more than 11,500 offices in all 50 states and Canada Number of Investors: over 7 million
Financials Offering Summary Price: $1,376,843 Rentable SF: 5,358 Year Built: 2007 CAP Rate: 7.0% on existing / 9.21% pro forma NOI $96,379 (current) TENANT SQ FT / % OF BUILDING RENT COMMENCEMENT INITIAL LEASE TERM BASE RENT PSF ANNUAL RENT % INCREASES CAM / TAXES INSURANCE PSF AT&T 3,002 SF / 56% 1/21/2008 10 Years Extended to 1/31/23 $27.50 $82,555 10% at options $6.50 Edward Jones 1,140 SF / 21% 7/1/2009 5 Years Extended to 6/30/19 $19.48 $22,212 2% annually each July $5.25 Suite 130 1,216 SF / 23% TBD TBD TBD $18.00 (pro forma) TBD $21,888 (pro forma) TBD TBD
Income & Expense Analysis Pro forma Scheduled Base Rental Revenue (only AT&T + Edward Jones) $104,767 $126,655 Expense Reimbursement Revenue CAM $9,863 Taxes $11,632 Insurance $4,017 $25,512 $33,900 Effective Gross Revenue $130,279 $160,555 Operating Expenses (100% pass through) CAM ($7,902) Taxes ($15,051) Insurance ($5,200) Sub Total ($28,153) Management Fee (4% of EGR - Mgmt. Fee) ($5,211) Reserves ($0.10/sf) ($536) Sub Total ($5,747) Total Operating Expenses ($33,900) ($33,900) Net Operating Income $96,379 $126,655 CAP Rate 7.0% 9.20% Sales Price $1,376,843 $1,376,843
About Us TRC provides national retailers with a comprehensive solution for growing their business by developing new locations. TWIN RIVERS CAPITAL, 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. Build to Suit JV Programs Preferred Developer for National Retailers Brokerage Fee Development Programs YOUR TWIN RIVERS CAPITAL CONTACT Joe Boyd Joe 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 843.973.8283 MOBILE 843.906.7751 EMAIL joe@twinriverscap.com WEB twinriverscap.com Client Roster FAMILY DOLLAR AUTOZONE MCDONALD S VERIZON WALMART DOLLAR TREE DICK S AT&T HOBBY LOBBY STARBUCKS DUNKIN DONUTS EDWARD JONES