OFFERING MEMORANDUM CBRE CAPITAL MARKETS AT&T€¦ · TENANT OVERVIEW AT&T is a telecommunications company providing cell phones, data plans, and tablets. As a global leader in the

OFFER ING MEMORANDUM

6749 NORTH CHURCH AVENUE | MULBERRY, F L 33860

AT & TC B R E C A P I TA L M A R K E T S

6749 NORTH CHURCH AVENUE | MULBERRY, FL 33860

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AT&T

JARED AUBREYSENIOR V ICE PRES IDENT+1 214 252 1031ja red .aub rey@cbre . com

M ICHAEL AUSTRYVICE PRES IDENT+1 214 252 1115michae l .aus t r y@cbre . com

OFFERING SUMMARY

EXCLUSIVE MARKETING ADVISORS:

NET OPERATING INCOME $78,000

YEAR BUILT 2017

GROSS LEASABLE AREA 1,835 SF

LAND AREA .91 ACRES

LEASE TERM 7 YEARS

LEASE COMMENCEMENT JULY 2017

LEASE EXPIRATION JULY 2024

REMAINING TERM 6 YEARS

LEASE TYPE NN

ROOF & STRUCTURE LANDLORD

INCREASES YES

OPTION YES

OPTIONS TO PURCHASE NO

GUARANTOR CORPORATE

$Offering Price:$1,172,900

%Cap Rate:

6.65%

MARK DRAZEKBROKER OF RECORDL IC . S L684111

YEARS COMMENCEMENT ANNUAL RENT INCREASE

1-7 JULY 2017 $78,000 -

OPTION 1 (8-12) JULY 2024 $89,700 15%

OPTION 2 (13-17) JULY 2029 $98,670 10%

NET OPERATING INCOME $78,000


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AT&T

INVESTMENT HIGHLIGHTS

+ Small Price-Point Asset, Significantly Less Than Most On-Market AT&T Offerings – Allows investor to purchase an asset with strong real estate fundamentals that isn’t artificially inflated due to a lease with tenant improvements

+ Strong Guarantor – The Franchisee operates over 1,400 AT&T mobility stores across the US. Subsidiary of publicly traded GameStop Corp. (NYSE: GME). GameStop operates over 7,000 locations across 14 countries

+ Rare 15% Rental Increase in Option – Strong Hedge Against Inflation

+ High-Quality, New 2017 Construction with Beautiful High-End Buildout – The prototype store was built to maximize signage with an upscale appearance in a freestanding format

+ Pad Site to Wal-Mart – Drives traffic and ideal consumer base to the property

+ High Visibility, Easy Ingress/Egress & Strong Traffic Counts – Over 35,500 vehicles per day on Church Avenue

+ Main Retail Corridor – Surrounding retailers include Wal-Mart, Publix, McDonald’s, Walgreens, Dollar General, Wendy’s, AutoZone, O’Reilly Auto Parts, Winn Dixie, 7-Eleven, Burger King, PepBoys, and more

+ Florida Has No State Income Tax


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AT&T

TENANT OVERVIEW

AT&T is a telecommunications company providing cell phones, data plans, and tablets. As a global leader in the Telecommunications, Media, and Technology industry, AT&T delivers advanced mobile services, next generation TV, high speed internet, and smart solutions for people and businesses.

TYPE Telecommunications

YEARS IN BUSINESS 132

NO. OF LOCATIONS 16,000

HEADQUARTERS Dallas, TX

WEBSITE www.att.com

GameStop Corp.(NYSE: GME), a Fortune 500 company headquartered in Grapevine, Texas, is a global, omnichannel video game, consumer electronics and wireless services retailer. GameStop operates more than 7,000 stores across 14 countries. The company’s consumer product network also includes www.gamestop.com; www.Kongregate.com, a leading browser-based game site; Game Informer® magazine, the world’s leading print and digital video game publication; and ThinkGeek, www.thinkgeek.com, the premier retailer for the global geek community featuring exclusive and unique video game and pop culture products. In addition, our Technology Brands segment includes Simply Mac and Spring Mobile stores. Simply Mac, www.simplymac.com, operates 74 stores, selling the full line of Apple products, including laptops, tablets, and smartphones and offering Apple certified warranty and repair services. Spring Mobile, www.springmobile.com, sells all of AT&T’s products and services, including DIRECTV through its 1,421 AT&T branded stores and offers pre-paid wireless services, devices and related accessories through its 70 Cricket branded stores in select markets in the U.S.

TYPE Retail

YEARS IN BUSINESS 34

NO. OF LOCATIONS 7,276

HEADQUARTERS Grapevine, TX

WEBSITE www.gamestop.com


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AT&T

PROPERTY AERIAL


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AT&T

PROPERTY AERIAL | .5 MILE VIEW


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AT&T

SITE DEMOGRAPHICS

7 MI

3 MI

1 MI

5 MI

20,000 10,000 030,000

POPULATION

138,480 52,039

28,000

31,495

15,172

890

$108,527

$82,627

$84,708

$80,969

86,369

41,400

2,248

40,000 15,00080,000 30,000120,000 45,000160,000 60,0000 0

HOUSEHOLDS

AVERAGE HOUSEHOLD INCOME TRAFFIC COUNTS (2016)

NORTH CHURCH AVE

7 MI

3 MI

1 MI

5 MI

7 MI

3 MI

1 MI

5 MI

25,000 50,000 75,000 100,0000


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AT&T

WHY MULBERRY?

Mulberry is a city in Polk County, Florida with an estimated population of 3,879. Strategically situated at the crossroads of Tampa’s dynamic eastward ex-pansion and Lakeland’s fast paced southern growth, is the town of Mulberry, Florida. Mulberry has been called “The Crossroads of Florida” due to its central location in the state and the Florida Department of Transportation reports that vehicles pass daily through the intersection of State Roads 60 and 37 at the doorstep of City Hall.

Phosphate played an important role in development of all of Polk County but particularly to Mulberry, named for the Mulberry Tree, which in the late 18th century had become the center point of the community. The economy of Mulberry is dominated by phosphate mining as The Bone Valley is the world’s most productive phosphate rock mining area in the world. According to the Chamber of Commerce, Mulberry is the “Official Phosphate Capitol of the World.” The largest phosphate company that operates in Mulberry is Mo-saic. Mosaic Company operates the Nichols mine approximately two miles east of town and continues to modernize their operations through new technologies making fertilizer production a viable business for decades to come.

For a small town, Mulberry is home to many large, important companies. One of the most famous companies to be based in Mulberry is Badcock Home Furniture & more, which has its world headquarters there. Badcock’s first first store was opened in Mulberry in 1904 and which now extends to 365 stores throughout the southeast United States.

TOP EMPLOYERSIn Polk CountyPol County School Board 19,000Publix Super Markets 16,600Discount Auto Parts, LLC 6,640Comcar Industries, Inc. 5,400Polk County Florida 3,600Lakeland Regional Health Systems 3,124Lakeland Regional Medical Center 3,100Meadowbrook Golf Group, Inc. 2,700Mid-Florida Medical Services, Inc. 2,300City of Lakeland 2,300FL Annual Conference of United Methodist Church 2,000Fairways Golf Corporation 1,500Watson Clinic, LLC 1,500Watson Clinic Foundation, Inc. 1,500Winter Haven Hospital, Inc. 1,480Commercial Carrier Corporation 1,450Saddle Creek Logistics Services 1,130Palletone, Inc. 1,100W.S. Badcock Corporation 1,000Carpenter Contractors of America, Inc. 1,000Cutrale Citrus Juices USA 1,000

Source: Mulberry Chamber of Commerce, City of Mulberry


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AT&T

CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Af-filiates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the success-ful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a man-ner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the own-er of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, mar-ket conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qual-ified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not

purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.

Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affil-iates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Mem-orandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discus-sions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obli-gation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc.

DISCLAIMERS

EXCLUSIVE MARKETING ADVISORS

OFFER ING MEMORANDUM

C B R E C A P I TA L M A R K E T SJARED AUBREYSENIOR V ICE PRES IDENT+1 214 252 1031JARED.AUBREY@CBRE .COM

M ICHAEL AUSTRYVICE PRES IDENT+1 214 252 1115MICHAEL .AUSTRY@CBRE .COM

MARK DRAZEKBROKER OF RECORDL IC . S L684111

6749 NORTH CHURCH AVENUE | MULBERRY, F L 33860

AT & T

OFFERING MEMORANDUM CBRE CAPITAL MARKETS AT&T€¦ · TENANT OVERVIEW AT&T is a telecommunications company providing cell phones, data plans, and tablets. As a global leader in the

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