CONFIDENTIAL OFFERING MEMORANDUM Absolute NNN NAPA Auto Parts | Corporate Lease 1193 Central Avenue // Albany, NY 12205 Representative Photo Broker of Record: Paul G.W. Fetscher, CCIM, CRX, CLS // Great American Brokerage Inc. // A Licensed NY Broker EXCLUSIVELY OFFERED BY: BRAD TEITELBAUM Vice President / Broker 312.275.3116 [email protected]GRAHAM GOLD Associate / Broker 312.275.3124 [email protected]BAUM REALTY GROUP, LLC 1030 W. Chicago Avenue, Suite 200 Chicago, IL 60642 www.baumrealty.com
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CONFIDENTIAL OFFERING MEMORANDUM Absolute NNN NAPA …€¦ · including Maserati, Kia, Jeep, Honda, Ford, Chevrolet, Nissan, and Hyundai. The heavy concentration of car dealerships,
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CONFIDENTIAL OFFERING MEMORANDUM
Absolute NNN NAPA Auto Parts | Corporate Lease 1193 Central Avenue // Albany, NY 12205
Representative Photo
Broker of Record: Paul G.W. Fetscher, CCIM, CRX, CLS // Great American Brokerage Inc. // A Licensed NY Broker
EXCLUSIVELY OFFERED BY:
BRAD TEITELBAUM Vice President / Broker 312.275.3116 [email protected]
Lease Type: Absolute NNN – No Landlord Responsibilities
Space Size: ±7,887 Square Feet
Lot Size: ±1.00 Acre
Parking Field: ±36 Spaces
* NOI based on upcoming rent increase 3/1/2019. Seller to credit rent difference at closing.
10 // CONFIDENTIAL OFFERING MEMOR ANDUM
1193 CENTR AL AVENUE // ALBANY, NY // PrOPert y infOrmatiOn
Lease AbstractNAPA AUTO PARTS
Tenant: Genuine Parts Company, a GA corp.
Space Size: ±7,887 Square Feet
Rent Commencement: 3/1/2014
Lease Expiration: 8/31/2024
Annual Base Rent (as of 3/1/2019): $108,929.73
Renewal Options: Four, 5-year options with 12 months notice.
Rent Increases: 7.50% in the last 6 months of the primary term and each option.
Roof & Structure: Tenant maintains, repairs, and replaces the roof and structure.
Common Area Maintenance: Tenant maintains, repairs, and replaces the common areas.
Taxes: Tenant pays taxes directly.
HVAC: Tenant maintains, repairs, and replaces the HVAC.
Insurance: Tenant maintains insurance and pays directly.
Utilities: Tenant pays utilities directly.
Right of First Refusal: None.
11 // CONFIDENTIAL OFFERING MEMOR ANDUM
1193 CENTR AL AVENUE // ALBANY, NY // tenant OvervieW
Tenant Overview
NAPA Auto Parts is a leading retailer of automotive replacement
parts, accessory items, and service items with 9,300 locations
throughout North America, Europe, and Australia, including 6,000
stores in the U.S. In North America, NAPA stores sell more than
500,000 different parts for retail and commercial uses including
automotive replacement parts, paint and refinishing supplies, farm
and marine supplies, tools and equipment, heavy duty parts, and
automotive accessories covering mostly all domestic and foreign
vehicle models.
Genuine Parts Company (GPC), based in Atlanta, GA, is the par-
ent company of NAPA Auto Parts and is a global service organiza-
tion engaged in the distribution of automotive replacement parts,
industrial replacement parts, office products, and electrical materi-
als. NAPA Auto Parts operates under the automotive parts group,
which is the largest division under the GPC umbrella and accounts
for 53% of total net sales.
Genuine Parts Company is publically listed on the New York
Stock Exchange under the ticker symbol GPC. For the FYE 2017,
Genuine Parts Company had $16.3 billion in revenue and net
income of $616 million.
tenant: genuine PartS COmPany D/B/a naPa autO PartS
OWnerSHiP: PuBliC – nySe: gPC
tOtal u.S. naPa lOCatiOnS: 6,000+
fye 2017 revenue: $16.30B
fye 2017 net inCOme: $616m
marKet CaPitaliZatiOn (aS Of June 2018): $13.40B
WeBSite: WWW.naPaOnline.COm WWW.genPt.COm
12 // CONFIDENTIAL OFFERING MEMOR ANDUM
1193 CENTR AL AVENUE // ALBANY, NY // marKet OvervieW
Albany & Capital Region Overview
imageS
1 Albany, New York
2 Empire State Plaza
3 University at Albany, SUNY
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Albany is the seat of Albany County, capital of New York state, and home to close to 100,000 people. Albany is
located approximately 150 miles north of New York City and has a history that dates back more than 400 years to 1609
when it was first settled by Henry Hudson. Additionally, Albany is the central city in a region nicknamed the “Capital
Region” as it is centered around the state capital and encompasses 8 counties in all.
ROBUST ECONOMYThe Capital Region has a robust economy dependent on government, health care, education, and technology. The
largest concentration of employees, approximately 25% of the workforce, are employed by the government which
benefits the area immensely as these are relatively “recession proof” professions compared to many other jobs. The
area prides itself on its solid workforce, including the 7th highest concentration of physical, biological, and engineer-
ing research workers in the nation. The area benefits from low unemployment and a growing workforce of 547,000
employees. Additionally, there are close to 4,000 retail trade establishments that bring in more than $721M in sales
tax. Overall, the diverse local economy should continue to benefit the Capital Region well into the future.
EDUCATIONAL RESEARCH AND DEVELOPMENTThe Capital Region is home to a wide variety of local universities ranging from large, state institutions to small, private
colleges. In total, the area supports 20+ nationally ranked 4-year colleges and universities, including the University at
Albany, SUNY Polytechnic, Sienna College, Russell Sage College, Excelsior College, The College of Saint Rose, and
Maria College, among others. The region is home to more than 1.6M square feet of academic R&D facilities, making
it the 35th largest R&D region in the nation. The growth in the R&D field is fueled by the more than 4,000 STEM
graduates every year and the area universities who spend approximately $575 million on R&D annually. Additionally,
the area benefits from having 1 of 6 GE Global Research centers in the world focusing on: manufacturing & materi-
als; aero-thermal mechanical systems; chemistry & chemical engineering; diagnostics and biomedical technologies;
electrical technologies and systems; software science and analytics; and advanced technologies. Finally, the Capital
Region is a world leader in nanotech research led by SUNY Polytechnic, which has more than $24B in high tech invest-
ment from 300 corporate partners.
13 // CONFIDENTIAL OFFERING MEMOR ANDUM
1193 CENTR AL AVENUE // ALBANY, NY // COnfiDentialit y DiSClOSure
Confidentiality DisclosureBaum Realty Group, LLC (“Baum”) has been retained as the exclusive broker by the Owner of Record (“the Owner”) of 1193 Central Avenue in Albany, IL in connection with the sale of certain
properties (“the Property”) as described in this Offering Memorandum.
This Offering Memorandum has been prepared by Baum for use by a limited number of parties, and does not purport to provide a necessarily accurate summary of the physical or economic
aspects of the Property or any of the documents related thereto, nor does it purport to be all inclusive or to contain all of the information which prospective investors may need or desire fur-
ther, the Offering Memorandum is limited to the matters set forth therein. All budgets or projections have been developed by Baum and Owner, and are based upon assumptions relating to
the general economy, competition, and other factors beyond the control of the Owner and Baum and therefore are subject to variation. Each of Baum and Owner makes no representation as
to the accuracy or completeness of the information contained herein, and nothing contained herein is, or shall be relied on as a promise or representation as to the future performance of the
Property. Although the information contained herein is believed to be correct, Baum and its employees, and Owner, and its trustees, officers, and employees disclaim any and all liability for
representations and warranties, expressed and implied, contained in, or omissions from the Offering Memorandum or any other written or oral communication transmitted or made available
to the recipient. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the Property Owner as of the date of preparation
of the Offering Memorandum.
Additional information and an opportunity to inspect the Property will be made available upon written request to interested and qualified prospective investors.
Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers regarding the property, and/or terminate discussions with any entity at any time
with or without notice. Owner shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the property unless and until
such offer is approved by Owner and the Board of Trustees of Owner and a written agreement for the purchase of the Property has been fully executed, delivered and approved by Owner and
its legal counsel, and any conditions to Owner’s obligations hereunder have been satisfied or waived.
This Offering Memorandum and the contents, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting
this Offering Memorandum, you acknowledge that you have executed, and have agreed to be bound by, the Confidentiality Agreement with Baum and Owner.
CONFIDENTIAL OFFERING MEMORANDUM
Absolute NNN NAPA Auto Parts | Corporate Lease 1193 Central Avenue // Albany, NY 12205
Representative Photo
Broker of Record: Paul G.W. Fetscher, CCIM, CRX, CLS // Great American Brokerage Inc. // A Licensed NY Broker
EXCLUSIVELY OFFERED BY:
BRAD TEITELBAUM Vice President / Broker 312.275.3116 [email protected]