698 Technology Circle Windsor, Colorado TECHNOLOGY · The Property is located in Windsor, Colorado, centrally located for access to both I-25 & Highway 85. Windsor is one of the fastest

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698 Technology Circle Windsor, Colorado

PAGE 1

Executive SummaryPAGE 3

Property DescriptionPAGE 4-6

United RentalsPAGE 7

Tenant InformationPAGE 8

Financial InformationPAGE 9-10

The TeamPAGE 11

SINGLE-TENANT TRIPLE NET INVESTMENT OPPORTUNITYTo be leased by the world’s largest equipment rental company

http://downtownsuperior.com/

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The Team PAGE 11

TABLE OF CONTENTS

Executive Summary PAGE 3

Tenant Information PAGE 8

Financial Information PAGE 9

Property Description PAGE 4

United Rentals PAGE 7

TABLE OF CONTENTS698 Technology Circle Windsor, Colorado

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Cushman & Wakefield, along with URealty and Schuman Companies, Inc, is pleased to present this outstanding opportunity to acquire a 11,400 square foot single-tenant, triple net lease, industrial facility situated on approximately 1.4 acres of land in the heart of Northern Colorado.

The Property is located in Windsor, Colorado, centrally located for access to both I-25 & Highway 85. Windsor is one of the fastest growing communities in Northern Colorado and is adjacent to Fort Collins Colorado, home of Colorado State University and Greeley Colorado, home of University of Northern Colorado.

The Property has been newly built, with completion of construction in November of 2017. A lease has been recently executed with a national credit tenant in United Rentals, the largest equipment rental company in the world. This is a 5 year NNN lease, with options to extend for a term of 15 years in total. 698 Technology Circle serves as an anchor for the industrial growth taking place in Northern Colorado and is strategically positioned to serve Northern Colorado communities.

698 Technology Circle / Windsor, Colorado

Net Leasable Area 11,400 SF

Occupancy 100%

Year Built 2017

Site Area 1.4

Zoning I-L

Asking Price $2,250,000

Lease Type Triple Net (NNN)

NOI $142,500

Cap Rate 6.30%

OFFERING SUMMARY

EXECUTIVE SUMMARY698 Technology Circle Windsor, Colorado

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Castle Rock

Parker

Greenwood Village

Golden

Commerce City

Federal Heights

BrightonLouisville

Superior

Lafayette

Erie

Bennett

Lone Tree

Highlands Ranch

Morrison

Evergreen Littleton

Sheridan Englewood

Wheat Ridge

Edgewater

Northglenn

Broomfield

Glendale

Arvada

WestminsterThornton

Boulder

FORT COLLINS

LOVELAND

Lakewood

Centennial

Aurora

Castle Pines

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Longmont

Denver

Denver International

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LOCATIONThis Property is located in the heart of Northern Colorado. Situated off of Highway 392 and Highway 257, the asset is at the center of the industrial market in Northern Colorado. The Property is in close proximity to the Crossroads Development in Loveland, the expanding Budweiser Event Center, as well as the newly approved Rocky Mountain Sports complex. Windsor is the fastest growing metro area within the booming Northern Colorado community.

57 Minutes via I-25N

1 Hour, 3 Minutes via I-25 S

23 Minutes via W. 4th St.26 Minutes

via US-34 W

WINDSOR

30 Minutes via CO 257 N and CO-14 W

CHEYENNE, WYOMING

SUBJECT

PROPERTY DESCRIPTION698 Technology Circle Windsor, Colorado

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BUILDING SPECIFICATIONSADDRESS698 Technology Circle Windsor, Colorado 80525

YEAR BUILT2017

COUNTYLarimer

ZONINGIndustrial Limited

ACCESSAccess to the property is via East Garden Drive with easy turn lanes from east bound or west bound traffic.

PARKINGAmple Parking

LAYOUTSingle Story

INDUSTRIAL CLASSClass A


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L

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FUTURE RESTROOM CORE

140'

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TENANTSPACE102

TENANTSPACE101

FUTURELOBBY100

SYSTEM NOTES

INTERIOR WALLSP3 - 3 5/8" METAL STUD FRAMING (25 GA.) AT 16" O.C.

INTERIOR PARTITION SUFFIXESA - STANDARD WALL, 1x LAYER GYP. BD. ON EACH SIDE OF STUD FRAMING.TERMINATE FRAMING TO THE UNDERSIDE OF STRUCTURE.

INTERIOR NOTES1 - ALL WALLS ARE P3-A UNLESS NOTED OTHERWISE

2 - ALL DIMENSIONS ARE TO GRID LINES, FACE OF STUD FRAMINGUNLESS NOTED OTHERWISE.

EXTERIOR WALLSW1 - MANUFACTURED STONE VENEER TO ELEV. 103'-9"

- MANUFACTURED STONE SILL

W2 - 8" PEMB WALL SYSTEM- VERTICAL METAL PANEL SIDING- SIMPLE SAVER SYSTEM R-30 WALL ASSEMBLY- COLOR - SADDLE TAN

125 East 5th Street, Loveland, Colorado 80537

ARCHITECTS, LLCfusionin

Issued For SD:

Plot Date:

Issued For DD:

Issued For Permit:

Issued For Construction:

01/10/2017

01/20/2017

01/01/2017

Seal:

1/24/2017 11:16:09 AM

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DESIGN PHASE

NORTH 1/8" = 1'-0" [RE: 1 / A4.1]A1.1

16 FIRST FLOOR PLAN

Revision Number Revision Date

ALL DASHED WALLS AND OBJECTS ARE DASHED AS EXAMPLES FOR FUTURE TENANT FINISH BUILD OUTS

NFLOOR PLAN


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MISSION & VALUESBuilding a better future is our commitment to the people and communities we serve.

Founded in 1997, United Rentals has become the world’s largest equipment rental provider, with an integrated network of 880+ rental locations in 49 states and 10 Canadian provinces, and $8.44 billion OEC of rental fleet including 3,300 classes of equipment.

OUR CUSTOMERSOur diverse customer base includes construction and industrial companies, utilities, municipalities, government agencies and independent contractors. Most of our customers align with three categories: approximately 50% are non-construction, such as industrial; 46% are non-residential construction; and 4% are residential. We provide every customer with access to the best people, equipment and solutions in the industry.

UNITED RENTALS698 Technology Circle Windsor, Colorado

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TENANTUnited Rentals

RENTABLE AREA11,400

LEASE TERM60 Month - Two 60 month options

OPERATING EXPENSESTenant is responsible for all Operating Expenses including outside maintenance, taxes, utilities, and insurance.

RENTAL SCHEDULE

Dates Rate Annual Rent

March 1, 2018 February 28, 2019 $12.50 $142,500.00

March 1, 2019 February 29, 2020 $12.88 $146,775.00

March 1, 2020 February 28, 2021 $13.50 $153,900.00

March 1, 2021 February 28, 2022 $13.91 $158,517.00

March 1, 2022 February 28, 2023 $14.50 $165,300.00

TENANT INFORMATION698 Technology Circle Windsor, Colorado

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10-YEAR CASH FLOWCONFIDENTIAL

2,250,000$ CAP Rate 6.33%

LOAN AMOUNT: 1,687,500.00$EQUITY $: 562,500.00$EQUITY %: 25.00%TERM (YRS): 20INTEREST RATE: 4.50%

SIZE: CURRENT RATE: ESCALATOR: 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

11,400 12.50$ 3.0% 142,500 146,775 151,178 155,714 160,385 165,197 170,152 175,257 180,515 185,930NNN Income 11,400 3.00$ 2.0% 34,200 34,884 35,582 36,293 37,019 37,760 38,515 39,285 40,071 40,872

11,400176,700 181,659 186,760 192,007 197,404 202,956 208,667 214,542 220,585 226,802

Less Vacancy: 0.00% 0 0 0 0 0 0 0 0 0 0

176,700 181,659 186,760 192,007 197,404 202,956 208,667 214,542 220,585 226,802

Taxes: 2.00$ 2.00% 22,800 23,256 23,721 24,196 24,679 25,173 25,677 26,190 26,714 27,248Insurance: 0.30$ 2.00% 3,420 3,488 3,558 3,629 3,702 3,776 3,851 3,929 4,007 4,087CAM 0.50$ 2.00% 5,700 5,814 5,930 6,049 6,170 6,293 6,419 6,548 6,678 6,812Reserves 0.20$ 2.00% 2,280 2,326 2,372 2,420 2,468 2,517 2,568 2,619 2,671 2,725Total Operating Expenses: 3.00$ 34,200 34,884 35,582 36,293 37,019 37,760 38,515 39,285 40,071 40,872

142,500 146,775 151,178 155,714 160,385 165,197 170,152 175,257 180,515 185,930

CAP = 6.00% 2,375,000 2,446,250 2,519,638 2,595,227 2,673,083 2,753,276 2,835,874 2,920,950 3,008,579 3,098,836208.33 214.58 221.02 227.65 234.48 241.52 248.76 256.22 263.91 271.83

ANNUAL DEBT SERVICE:PRINCIPAL 53,264 55,711 58,270 60,947 63,747 66,675 69,738 72,942 76,293 79,798INTEREST 74,848 72,401 69,842 67,165 64,365 61,436 58,373 55,169 51,819 48,314 TOTAL DEBT SERVICE (ANNUAL): 128,111 128,111 128,111 128,111 128,111 128,111 128,111 128,111 128,111 128,111

DEBT SERVICE COVERAGE RATIO: 1.11 1.15 1.18 1.22 1.25 1.29 1.33 1.37 1.41 1.45LOAN TO VALUE RATIO: 71.1% 66.8% 62.6% 58.6% 54.6% 50.7% 46.9% 43.1% 39.4% 35.8%

NET CASH FLOW: 14,389 18,664 23,067 27,602 32,274 37,085 42,041 47,146 52,403 57,819

CASH ON CASH ROI 2.56% 3.32% 4.10% 4.91% 5.74% 6.59% 7.47% 8.38% 9.32% 10.28%LEVERAGED ROI 12.03% 13.22% 14.46% 15.74% 17.07% 18.45% 19.87% 21.35% 22.88% 24.47%

CASH FLOW + PRINCIPAL EQUITY GAIN: 67,652 74,374 81,337 88,549 96,020 103,760 111,779 120,088 128,696 137,617

BUILDING VALUE (SALE): CAP = 6.00% 2,446,250 2,519,638 2,595,227 2,673,083 2,753,276 2,835,874 2,920,950 3,008,579 3,098,836 3,191,801LESS PURCHASE PRICE: -2,250,000 -2,250,000 -2,250,000 -2,250,000 -2,250,000 -2,250,000 -2,250,000 -2,250,000 -2,250,000 -2,250,000LESS SELLING EXPENSES: COMM. % 3.00% -73,388 -75,589 -77,857 -80,193 -82,598 -85,076 -87,629 -90,257 -92,965 -95,754ESTIMATED GAIN ON SALE OF BLDG IF SOLD: 122,863 194,048 267,370 342,891 420,678 500,798 583,322 668,322 755,871 846,047

NET CUMULATIVE GAIN IF SOLD (CASH + PRIN): 120,916 130,085 139,607 149,496 159,767 170,435 181,517 193,030 204,989 217,414IRR (IF SOLD): 33.9% 22.8% 19.3% 17.4% 16.3% 15.6% 15.0% 14.6% 14.2% 13.9%

BUILDING VALUATION:VALUE PER SQ. FT.:

NET OPERATING INCOME (NOI):

GROSS OPERATING INCOME:

TOAL SQ. FT.POTENTIAL RENTAL INCOME:

United Rentals

Less Operating Expenses:

CASH FLOW ANALYSIS

PURCHASE PRICE

FINANCING:

TENANT:

FINANCIAL INFORMATION698 Technology Circle Windsor, Colorado

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GENERAL ASSUMPTIONS DEBT FINANCING GENERAL PARAMETERS

RESALE

Start DateMarch 1, 2018

Analysis Period10 Years

Rentable Building Area11,400 SF

Future Base Rent Escalation3%

SourceNew Financing

Loan to Value75%

Amortization20 years

Interest Rate4.5%

Loan Fee1%

Operating ExpensesOperating expenses are shown as NNN reimbursable income although tenant pays all expenses directly.

MethodologyThis cash flow projection has been developed on a ten year basis using assumption as outlined above. The projection implements a probability weighted analysis at the time of closing triggering a new ten year lease and will estimate future income and expense levels.

Projection PeriodThis analysis begins the first month from the closing date and projects future income on a fiscal year basis for ten (10) years. All dollar amounts used are based on year 2017 actual expenses. Market leasing assumptions escalate on a calendar year basis and inflation is calculated

on a calendar year basis.

Capitalization Rate7%

Sales Commission3%

Lease Term5 Years – Two 5 Year Options

Renewal Probability90%

General Vacancy0%

FINANCIAL INFORMATION698 Technology Circle Windsor, Colorado

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Travis Ackerman is a Director at Cushman & Wakefield and he is one of the most active industrial brokers in Northern Colorado. Travis’ team is active in all aspects of commercial real estate whether it be industrial, retail, office, multi-family or land. As a result, they are able to provide insight and advisory services on all facets of the Northern Colorado Market.

Matt Haskell was born and raised in Fort Collins. As a serial entrepreneur, Matt has founded several real estate related companies and has always had a passion for new ventures. His creativity, innovation, and unique approach in every deal are what have set him apart over the years. Matt has dedicated nearly two decades to this industry in Northern Colorado and prides himself on his detailed understanding of the regional markets.

Alex Schuman is a Senior Partner and he oversees the Real Estate Investment Advisory group for Shuman Companies. He has been involved in Northern Colorado real estate and construction management for 10 years. Alex is talented in identifying opportunities, forming and fostering relationships with investors and clients alike, as well as leading the company with direction and leadership. As a licensed Managing Broker in Colorado, Alex provides brokerage services for acquiring new opportunities as well as acting listing agent for PJL Schuman’s model homes.

Travis AckermanDirector / Cushman & Wakefield+1 970 267 [email protected]

772 Whalers Way, Suite 200 Fort Collins, Colorado 80525 T +1 970 776 3900 | F +1 970 267 7419 cushmanwakefield.com

Alex SchumanBroker / Schuman Companies+1 970 219 [email protected]

605 S. College Avenue Fort Collins, Colorado 80525 T +1 970 219 1493 schumanco.com

Matt HaskellOwner / U RealtyM +1 970 690 1690 / O +1 970 229 [email protected]

2350 E. Harmony Road, #103 Fort Collins, Colorado 80528 T +1 970 305 5130

THE TEAM698 Technology Circle Windsor, Colorado

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mailto:travis.ackerman%40cushwake.com?subject=http://cushmanwakefield.com mailto:[email protected]://schumanco.com mailto:[email protected]

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698 Technology Circle Windsor, Colorado TECHNOLOGY · The Property is located in Windsor, Colorado, centrally located for access to both I-25 & Highway 85. Windsor is one of the fastest

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