MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 1 Development Opportunity Offering Memorandum For Sale | Mequon Development Land Mequon Development Land PRESENTED BY: JOE ELDREDGE MOBILE +1 262 443 8839 EMAIL [email protected]MARK A. SCHNOLL DIRECT +1 414 278 6833 EMAIL [email protected]W Mequon Rd W Mequon Rd W Mequon Rd N Buntrock Rd N Buntrock Rd N Buntrock Rd
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MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 1
Development Opportunity
Offering Memorandum For Sale | Mequon Development Land
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 6
> Property Information
Development Opportunity
Offering Memorandum For Sale | Mequon Development Land
COLLIERS INTERNATIONAL
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 7
Physical Description
PROPERTY INFORMATION
> ADDRESSES 6200 & 6300 W Mequon Rd
11300 & 11350 Buntrock Ave
11352 Buntrock Ave (50’ rear portion only)
> TOTAL SITE AREA ± 13.420 Acres
> EXISTING BUILDINGS To be demolished by Buyer
> PARCEL NUMBERS 14-050-02-01-001 (to be divided)
14-050-02-02-001
14-022-15-003.00 (50’ rear portion only)
> ZONING TC Town Center District
The Town Center (TC) District is established to preserve and enhance the unique character of Mequon’s Civic Campus, to create a gateway to the Mequon-Thiensville Town Center, establish and promote pedestrian character, protect the natural environment and improve visual and physical access to the Milwaukee River, mitigate the impacts of vehicular traffic, establish and maintain small, neighborhood-scale mixed uses including a broad range of housing type at densities that support the Town Center businesses, and encourage high quality design standards throughout the Town Center.
> TID All parcels are part of Tax Incremental District No. 3 known as the Town Center, a mixed-use district adopted in 2008. The TID must close by 2028.
Overview of general area including 13.420 acre subject property, Mequon Public Safety Building (not included) and Fromm Family Corporate Office (not included).
Mequon Public Mequon Public Mequon Public Safety BuildingSafety BuildingSafety Building
Fromm Family Fromm Family Fromm Family Corporate OfficeCorporate OfficeCorporate Office
W Mequon RdW Mequon RdW Mequon Rd
N B
untr
ock R
dN
Buntr
ock R
dN
Buntr
ock R
d
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 8
Property Aerial
PROPERTY INFORMATION
W Mequon RdW Mequon RdW Mequon Rd
N B
untr
ock R
dN
Buntr
ock R
dN
Buntr
ock R
d
MMM---T Weyenberg T Weyenberg T Weyenberg LibraryLibraryLibrary
Mequon Mequon Mequon Community ParkCommunity ParkCommunity Park
Mequon Public Mequon Public Mequon Public Safety BuildingSafety BuildingSafety Building
Fromm Family Fromm Family Fromm Family Corporate OfficeCorporate OfficeCorporate Office
The 13.420 acre parcel is located just west of N Cedarburg Rd, one of the main arterial roads in Mequon which runs
along the Milwaukee River. The subject property is bordered on the south by Highway 167 (W Mequon Rd), N
Buntrock Ave to the west and east by the Canadian Pacific Railway, the Ozaukee Interurban Trail and the City of
Mequon Civic Campus which includes City Hall, Logemann Community Center, city pool, park and library.. Along the
northern edge of the property sit two single family houses. Additionally, there is large English Tudor along the
western portion of the subject property. Approximately 50’ of the rear portion of this parcel (14-022-15-003.00)
would be included as part of the subject property.
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 9
Area Map
PROPERTY INFORMATION
The 13.420 acre parcel is located just west of N Cedarburg Rd, one of the main arterial roads in Mequon which runs
along the Milwaukee River. The subject property is bordered on the south by Highway 167 (W Mequon Rd), N
Buntrock Ave to the west and east by the Canadian Pacific Railway. Along the northern edge of the property sit two
single family houses. Additionally, there is large English Tudor serving as the Fromm Family Corporate Office along
the western portion of the subject property. Approximately 50’ of the rear portion of this parcel (14-022-15-
003.00) would be included as part of the subject property.
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 10
Regional Map
PROPERTY INFORMATION
Lake Michigan
MilwaukeeMilwaukeeMilwaukee
Milwaukee: 17 Miles
The community of Mequon is very well located in Southeastern Wisconsin. The City sits in Ozaukee county near the
borders of Milwaukee and Washington Counties. Mequon’s proximity along Interstate 43 provides for excellent ac-
cess to the City and surrounding communities, including the City of Milwaukee which is located just 17 miles south of
Mequon and General Mitchell International Airport (21 miles). Additionally, Highway 167 serves as a connector high-
way between Interstates 41 and 43, further driving traffic through the City and directly pass the subject property.
General Mitchell International Airport
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 11
Zip Code Map
PROPERTY INFORMATION
The subject property is located within the third wealthiest
Milwaukee-area zip code (53092) and just next to the sec-
ond wealthiest (53097). The 2014 average net worth for
53092 was $877,261 with an average household income of
$152,325 This zip code has a median home value of
$326,236.
WEALTHIEST MILWAUKEE-AREA ZIP CODES
53097 (#2) 53092 (#3)
Post Office/City Mequon Mequon/Thiensville
Average Household Net Worth $847,732 $877,261
Avg. Household Income $134,849 $152,325
Median Home Value $310,886 $326,236
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 12
Draft CSM
PROPERTY INFORMATION
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 13
Floodplain Map
PROPERTY INFORMATION
As currently defined in the City of Mequon Floodplain Map, the subject property is not
located within a floodplain.
Development Opportunity
Offering Memorandum For Sale | Mequon Development Land
> Area Overview
COLLIERS INTERNATIONAL
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 15
City of Mequon
Located on the western shores of Lake Michigan just north of Milwaukee, the City of Mequon boasts majestic bluffs, stately homes, high-end developments and expansive open space. The community enjoys many parks, five golf courses, the winding Milwaukee River and easy access to the interstate system for a convenient commute to Milwaukee. Mequon's rural heritage is preserved by high development standards and low-density zoning regulations. Mequon has one of the lowest crime rates and one of the lowest tax rates in the Metropolitan Milwaukee area. The award winning K-12 school system is ranked as the top public school system in Wisconsin. Prime healthcare facilities and services are readily available throughout the City and include Columbia St. Mary's Hospital and Aurora Health Care. Mequon is also a business-friendly community with over 300 businesses and an industrial park with small and mid-sized firms as well as large firms like Rockwell Automation.
AREA OVERVIEW
MAJOR EMPLOYERS (listed alphabetically)
Employer Industry
Columbia St. Mary’s Hospital General Medical & Surgical Hospitals
Concordia University Colleges & Universities
Drug Treatment Helpline Human Rights Organization
HB Performance Inc Motor Vehicle Brake System Mfg
Mequon-Thiensville School District Elementary & Secondary Schools
Kleen Test Products Corp Polish & Other Sanitation Goods Mfg
Megamart Supermarkets & Other Grocery Stores
Metro Market Supermarkets & Other Grocery Stores
Milwaukee Area Technical College Colleges & Universities
River Club Country Maintenance Admin Management Consulting Services
Rockwell Automation Other Technical Consulting Services
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 16
City of Mequon (cont.)
EDUCATION
Mequon is home to an award-winning high school, Homestead High School. In 2009, Homestead was ranked by BusinessWeek as Wisconsin’s top high school. Mequon is also home to several higher education institutions. Concordia University of Wisconsin, a private Lutheran-affiliated college, is the largest university in Mequon with nearly 8,000 students enrolled annually. The university offers 78 undergraduate majors and minors as well as 17 graduated programs, eight accelerated adult education programs and three doctoral/professional programs. Concordia has 10 classroom centers on its 192-acre campus overlooking Lake Michigan. Mequon also contains the northern campus of the Milwaukee Area Technical College with an enrollment of nearly 6,000 students. TRANSPORTATION
Highways > Interstate Highway 43
State Highways 57, 167, and 181
County Highway W Public Transit
Ozaukee County Transit offers Ozaukee County Express bus service along I-43 and
Shared-Ride taxi service throughout the county (www.ozaukeetransit.com)
The Milwaukee County Transit System offers bus service to MATC and Concordia University (www.ridemcts.com). Air Commercial airline service is available at:
Milwaukee’s General Mitchell International Airport (27 miles south) Chicago O'Hare International Airport (95 miles south)
Rail Area rail freight service is provided by Canadian National Railway and Union Pacific Railroad. Passenger rail service, provided by Amtrak, is available at the Milwaukee Intermodal Station, 18 miles south. Water
Port of Milwaukee (21 miles south)
AREA OVERVIEW
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 17
Demographics
AREA OVERVIEW
POPULATION City of Mequon Ozaukee County
2015 Est. Total Population 23,220 87,068
2018 Projected Total Population 23,451 87,758
2010 Census Population 23,134 86,395
2000 Census Population 21,911 82,316
Projected Annual Growth 2015 to 2020 0.2% 0.2%
Historical Annual Growth 2000 to 2015 0.4% 0.4%
HOUSEHOLDS City of Mequon Ozaukee County
2015 Est. Households 8,902 35,366
2018 Projected Households 9,219 36,550
2010 Census Households 8,639 34,228
2000 Census Households 7,938 30,856
Projected Annual Growth 2015 to 2020 0.7% 0.7%
Historical Annual Growth 2000 to 2015 0.8% 1.0%
INCOME (2015 EST.) City of Mequon Ozaukee County
HH Income $200,000 or More 20.1% 9.1%
HH Income $150,000 to $199,999 9.9% 7.2%
HH Income $100,000 to $149,999 21.4% 18.3%
HH Income $75,000 to $99,999 11.9% 14.6%
HH Income $50,000 to $74,999 12.5% 16.6%
HH Income $35,000 to $49,999 8.9% 12.9%
HH Income $25,000 to $34,999 6.3% 8.0%
HH Income $15,000 to $24,999 4.6% 7.5%
HH Income Under $15,000 4.3% 5.7%
Average Household Income $160,948 $104,627
Median Household Income $102,699 $73,924
Per Capita Income $61,908 $42,625
Average Household Net Worth $942,038 $708,304
23,220 Population
8,902 Households
$102,699 Med. Household Income
$942,038 Avg. HH Net Worth
City of Mequon
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 18
Demographics (cont.)
Source: Regis
AREA OVERVIEW
OCCUPATION (2010 ACTUAL) City of Mequon Ozaukee County
Mgmt, Business, & Financial Ops 23.7% 19.1%
Professional, Related 28.5% 23.2%
Service 10.4% 14.1%
Sales, Office 27.3% 26.1%
Farming, Fishing, Forestry 0.1% 0.6%
Construction, Extraction, Maint. 3.8% 5.3%
Production, Transport, Material Moving 6.3% 11.6%
White Collar Workers 79.4% 68.4%
Blue Collar Workers 20.6% 31.6%
CONSUMER EXPENDITURE (2015 EST.) City of Mequon Ozaukee County
Total Household Expenditure $889 M $2.57 B
Apparel $31.3 M $89.6 M
Contributions, Gifts $72.6 M $189 M
Education, Reading $40.8 M $106 M
Entertainment $50.8 M $145 M
Food, Beverages, Tobacco $129 M $383 M
Furnishings, Equipment $32.2 M $90.6 M
Health Care, Insurance $73.6 M $220 M
Household Ops, Shelter, Utilities $274 M $793 M
Miscellaneous Expenses $12.5 M $37.1 M
Personal Care $11.3 M $33.1 M
Transportation $161 M $479 M
$889 M Total Household Expenditure
79.4% White Collar Workers
Development Opportunity
Offering Memorandum For Sale | Mequon Development Land
> Appendix
COLLIERS INTERNATIONAL
Research & Forecast Report
Metro Milwaukee | Retail First Quarter 2015
As 2015 progresses, the retail sector has
responded aggressively. Despite the growing
popularity of online sales, the inventory-to-sell ratios
of brick and mortar retailers are at their strongest
levels in years. The introduction of numerous new
developments in the marketplace is exciting not only
for retail, but all aspects of real estate as several new
“lifestyle” developments have commenced in Q1.
These rental communities will allow their tenants to
live a convenient lifestyle including restaurants,
shopping and grocery stores all within walking
distance.
Ideal small tenant spaces are at a premium right now
because most tenants would prefer end cap space
for the best visibility and accessibility. This, of course,
is nothing new. We are seeing high valued
neighborhood storefront space emerging within the
aforementioned new mixed use developments with
high density, multi-story apartments in markets like
Shorewood, Wauwatosa, Mequon, Oak Creek and
Grafton. Even with these dynamic trends, the first
quarter statistics read conservative when interpreted
on a national level.
Retail off to a Strong Start Research | Metro Milwaukee
Q1 2015
ECONOMIC INDICATORS
OFFICE USING JOBS
WISCONSIN UNEMPL.
METRO MKE UNEMPL.
MIDWEST UNEMPL.
NATIONAL UNEMPL.
190,450
5.6%
4.8%
5.1%
5.5%
Source: US Bureau of Labor Statistics
Quarter
to Quarter Year Over
Year
The real estate market is shifting. The market is
finally seeing prerecession numbers, even though
consumers are behaving more conservatively than
they once did prior to 2008.
Although retail sales were off to a slower than
expected start, food and beverage has seen a 7.7%
increase from March of last year. Retailers are
holding tight for the ripple effect of gas prices to be
felt nationwide.
> >
The public sector is on track for billions in upgrades to
infrastructure in metro Milwaukee. We will see an
increase in road construction as the initial highway
designs become outmoded and worn out.
The retail sector looks optimistic for metro Milwaukee.
Nationally, we have seen a slower than predicted start
for 2015. Millennials are paving the way for downtown
developments as they prefer convenience for their
restaurant and shopping needs. As millennials age,
the industry will start to see retail develop in more
concentrated areas that will allow consumers to eat,
sleep and shop all within a short distance of each
This Offering Memorandum contains select information pertaining to the business and affairs of the Property known as the 13.420 Acre City-Owned Land in
Mequon, WI. It has been prepared by Colliers International. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective
purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective
purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Colliers
International. The material is based in part upon information supplied by the Seller and in part upon financial information obtained by the Property sources it
deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness
or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should
make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.
By acknowledging your receipt of this Offering Memorandum, you agree:
1) The Offering Memorandum and its contents are confidential;
2) You will hold it and treat it in the strictest of confidence;
3) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental
to the interest of the Seller; and
4) By accepting this material, you are not entering into a co-broker relationship with Colliers or Seller. Neither Colliers nor Seller has any obligation to pay a
commission to outside brokers unless agreed to via a separate agreement.
Owner and Colliers International expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the
Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and
until a written agreement for the purchase and sale of the Property has been fully executed and delivered.
If you wish not to pursue negotiations leading to the acquisition of 13.420 Acre City-Owned Land in Mequon, WI or in the future you discontinue such
negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.
A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection
with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no
event shall a prospective purchaser have any other claims against Seller or Colliers International or any of their affiliates or any of their respective officers,
Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale