Verizon for Sale 145 Okatie Center Blvd. North Hilton Head Island, SC / Savannah, GA Metro
Table of Contents FOR FURTHER INFORMATION Joe Boyd office 843.973.8283 mobile 843.906.7751 web joe@twinriverscap.com 145 Okatie Center Blvd. North Okatie, SC Locator Map... 3 High Aerial...4 Low Aerial... 5 125-G Wappoo Creek Drive Charleston, SC 29412 phone (843) 722.9925 fax (843) 722.9947 web twinriverscap.com Site Aerial... 6 Site Plan...7 Property Information...8 Tenant & Lease Information...9 Financials... 10 About Us... 11
OKATIE, SC Locator Map
Hwy 170 High Aerial to I-95 Hwy 278 Hw y2 Pkwy walte r Buck Hw y 17 0 to Bluffton / Hilton Head 78
Low Aerial Proposed Retail Okatie Crossings (approx. 188 acres) Future First Citizens Bank Hwy 278 / Fording Island Rd. 26,100 VPD SITE Hwy 170
Site Aerial Future First Citizens Bank SITE
Site Plan
Property Information Property and Location Highlights HIGHLIGHTS Prime 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 Mile Population 2,460 19,945 42,015 Average HHI $62,555 $79,052 $79,759 * Del Webb/Sun City within 1 mile has ~14,000 residents. > 10 YEAR LEASE WITH 10% RENTAL INCREASE IN YEAR 6 > 3,000 SF > 0.91 ACRES > CAP RATE: 6.10% > 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
Tenant & Lease Information TENANT PROFILE Cellular Sales Tenant: Cellular Sales of South Carolina, LLC Guarantor: Cellular Sales of Knoxville, Inc. LEASE INFORMATION > Initial lease term of 10 years with a 10% bump in year 6 > Two 5-year options increasing at 10% each option period 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. Verizon Verizon 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, information 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 billion Number of Employees: 176,800 worldwide S&P Rating: A
Financials Rent Roll Tenant: Cellular Sales of South Carolina, LLC NN Lease 145 Okatie Center Blvd. North Price Summary Price $2,090,164 Cap Rate 6.10% Initial Term Blended Cap: 6.40% TENANT BUILDING SQ FT LEASE START/ EXPIRATION RENT PER SQ FT MONTHLY RENT ANNUAL RENT OPTIONS Cellular Sales dba: Verizon Wireless 3,000 SF December 15, 2017 thru December 31, 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 period Extension Option 1 Years 11-15 $154,275.00 Extension Option 2 Years 16-20 $169,702.50
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 of nearly $200 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 WEB joe@twinriverscap.com twinriverscap.com Client Roster FAMILY DOLLAR AUTOZONE MCDONALD S VERIZON WALMART DOLLAR TREE DICK S AT&T HOBBY LOBBY STARBUCKS DUNKIN DONUTS EDWARD JONES