BLOCKBUSTER | Corporate Sale-Leaseback | Greenville, NC This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy. BLOCKBUSTER 315 Greenville Blvd. SE, Greenville, NC • Priced Well Below Replacement Cost • Brand New 10-Year Corporate Sale-Leaseback with BLOCKBUSTER Inc. (NYSE: BBI) on 6,400+ SF • Includes 8,000+ SF of Available Space | Proforma CAP: 19.12% - Projected Rent of $16+ PSF, NNN on Vacancy • BLOCKBUSTER Inc.: 6,000+ Stores Worldwide | Revenues $4.6+ Billion in January 2010 • Strategically Located Along Greenville Blvd. | Traffic: 32,000+ Cars / Day • Dominant Retail Corridor in Greenville | Shopped by E. Carolina University - 20,000 Students • Directly Adjacent to Target, Wal-Mart, Stein Mart, Kroger, Overton’s, Barnes & Noble, TJ Maxx, Toys R Us • Greenville, NC Ranked Top 10 "Best Places For Business And Careers" – Forbes Magazine 2008 $1,205,000 | 8.5% CAP | 14,400 SF | $84 PSF New Corporate Sale-Leaseback 25 Stand Alone Stores Available Throughout the Southeastern U.S. Exclusive Listing Agents: Bob Moorhead | Joe Caputo 212.686.0079 | [email protected] | www.exp1031.com Subject Property In association with North Carolina Broker of Record: Marc Liles | License # 184508
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Subject Property BLOCKBUSTER Video BLOCKBUSTER Greenville O… · BLOCKBUSTER | Corporate Sale-Leaseback | Greenville, NC BLOCKBUSTER Video 315 Greenville Blvd. SE, Greenville, NC
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BLOCKBUSTER Video315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
BLOCKBUSTER315 Greenville Blvd. SE, Greenville, NC
• Priced Well Below Replacement Cost• Brand New 10-Year Corporate Sale-Leaseback with BLOCKBUSTER Inc. (NYSE: BBI) on 6,400+ SF• Includes 8,000+ SF of Available Space | Proforma CAP: 19.12% - Projected Rent of $16+ PSF, NNN on Vacancy• BLOCKBUSTER Inc.: 6,000+ Stores Worldwide | Revenues $4.6+ Billion in January 2010• Strategically Located Along Greenville Blvd. | Traffic: 32,000+ Cars / Day• Dominant Retail Corridor in Greenville | Shopped by E. Carolina University - 20,000 Students• Directly Adjacent to Target, Wal-Mart, Stein Mart, Kroger, Overton’s, Barnes & Noble, TJ Maxx, Toys R Us• Greenville, NC Ranked Top 10 "Best Places For Business And Careers" – Forbes Magazine 2008
$1,205,000 | 8.5% CAP | 14,400 SF | $84 PSF
New Corporate Sale-Leaseback25 Stand Alone Stores Available Throughout the Southeastern U.S.
Exclusive Listing Agents: Bob Moorhead | Joe Caputo212.686.0079 | [email protected] | www.exp1031.com
Subject Property
In association with North Carolina Broker of Record: Marc Liles | License # 184508
BLOCKBUSTER Video315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
EXP Realty Advisors and Retail Resource Group as exclusive advisors are pleased to present for sale a stand alone building, currently owned and 44% occupied by BLOCKBUSTER corporate. Upon closing, BLOCKBSUTER corporate will enter into a brand new 10-year absolute NNN lease on their current space. This offering provides investors the unique opportunity of owning net leased real estate, priced well below the building’s replacement cost, with tremendous potential upside upon leasing the vacant space.
This location is being sold as a part of a 25 store offering which can be purchased individually or as a portfolio. For additional information on other available BLOCKBUSTER properties please visit www.exp1031.com.
IMMEDIATE TRADE AREA
The subject property is strategically located along a highly traveled Greenville Blvd. (US Highway 264) at S. Evans St., one of the busiest and most prominent intersections in Greenville, NC, Average traffic is in excess of 32,000 cars per day. The subject property is bookended by University Commons, Greenville’s most dominant power center, and Greenville Square. Anchor tenants immediately adjacent to the subject property include Target, Wal-Mart, Kroger, Kmart, Barnes & Noble, Stein Mart, Overton’s, A.G. Moore, Best Buy, TJ Maxx, Linen’s & Things, Dollar Tree and Staples. This retail corridor is frequently shopped by the 20,000 students of East Carolina University, which is located just 2-miles north of the this store.
GREENVILLE, NC
Greenville and Pitt County are located in the north central coastal plain region of Eastern North Carolina, approximately 85 miles east of Raleigh, the capital city of North Carolina. Greenville is approximately 87 miles west of the Atlantic Ocean and approximately 265 miles south of our nation's capital, Washington, DC. Greenville is the county seat of Pitt County and principal city of the Greenville, North Carolina MSA. Greenville is the health, entertainment, and educational hub of North Carolina's Tidewater and Coastal Plain and in 2008 was listed as the Tenth Largest City in North Carolina. In 2008, Greenville was named one of the nation’s “100 Best Communities for Young People” by the America’s Promise Alliance and Greenville top ten of the nation's "Best Places For Business And Careers" by Forbes Magazine. Sports Illustrated and the National Parks & Recreation Association named Greenville Sportstown USA for the state of North Carolina.
Pitt County retains its position as the number one retail trade center in the central and northern areas of eastern North Carolina. The City of Greenville ($1.14 billion) ranks 12th in the state for cities with 5,000 or more population. The city's official population estimate is 84,986 residents (July 2009). The Greenville Metro Area includes 183,000 people. It is the home of East Carolina University and Pitt Memorial Hospital, one of the largest hospitals in North Carolina and employs over 6,000 people.
INVESTMENT OVERVIEW
List Price: $1,205,000
Occupancy: 44%
Current Income: $102,400 / Year
CAP Rate (BLOCKBUSTER): 8.50%
CAP Rate (Proforma): 19.12%
Building Area: 14,400 + SF
BLOCKBUSTER: 6,400 + SF
Vacant Shop Space: 8,000 + SF
Building Price / SF: $84 + PSF
Land Area: 1.32 + Acre
Land Price / SF: $21 + PSF
Year Built: 1989
Ownership: Fee Simple
BLOCKBUSTER LEASE OVERVIEW
Base Rent: $102,400 / Year
Annual Rental Rate: $16 + PSF
Rent Commencement: Close of Escrow
Primary Term: 10 Years*
Options to Renew: 2, 5-Year
Rent Increases: 10% Every 5 Yrs.
Tenant: BLOCKBUSTER Inc.
Lease Type: Absolute NNN
* Tenant has a right to terminate their lease after year 5.
BLOCKBUSTER Video315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
BLOCKBUSTER Video315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
Tenant Overview
BLOCKBUSTER INC. www.blockbuster.com
BLOCKBUSTER Inc. (NYSE: BBI, BBI.B), is a leading global provider of in-home movie and game entertainment with over 6,000 storesthroughout the Americas, Europe, Asia and Australia. The Company, one of the strongest and most recognizable entertainment brands in the world.
BLOCKBUSTER's stores are a ubiquitous neighborhood feature attracting nearly 47 million customers annually. Company-operated stores are open 365 days a year generally from 10 a.m. to midnight. Merchandise selection, quantity and formats are customized at the store level to meet the needs and preferences of local customers.
As the media entertainment industry has evolved, so too has BLOCKBUSTER. The Company is no longer just a chain of video stores. While transforming and diversifying its store-base continues as a company priority, BLOCKBUSTER now offers convenient access to media entertainment any where and any way consumers want it – whether in stores, by mail, through vending / kiosks or digitally.
BLOCKBUSTER is the only company able to provide convenient access to media entertainment across multiple channels, recognizing that the same customer may choose different ways to access media entertainment on different nights. Whether a customer selects traditional stores, by-mail, vending or digital, BLOCKBUSTER is uniquely positioned as the only provider to deliver entertainment content across all channels.
On November 1, 2006, the Company introduced BLOCKBUSTER Total Access™, a movie rental program that gives online customers the option of exchanging their DVDs through the mail or returning them to a nearby participating BLOCKBUSTER® store in exchange for free in-store movie rentals. With BLOCKBUSTER Total Access, customers no longer have to choose between renting online or renting in-store, and they never have to be without a movie. BLOCKBUSTER has the largest in-store presence of any company in themovie rental business, a growing online presence, and the capability -- currently, the only capability in the marketplace -- to integrate bricks-and-mortar with online.
The Company continues to broaden its points of presence. In 2008 BLOCKBUSTER announced an alliance with NCR (NYSE: NCR) for vending, providing customers with a new and convenient option for accessing media entertainment. There are now over 2,000 BLOCKBUSTER Express branded kiosks in the market today.
Thinking beyond the box - in the first half of 2009 the Company announced strategic alliances with TiVo (NASDAQ: TIVO), Samsung and Motorola (NYSE: MOT). BLOCKBUSTER anticipates similar opportunities to position the Company as a leader in the distribution of digital entertainment.
BLOCKBUSTER Video315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
BLOCKBUSTER Video315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
BLOCKBUSTER Video315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
BLOCKBUSTER Video315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
BLOCKBUSTER Video315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
Category 1-Mile 3-Mile 5-Mile
Population:
Total Population 8,799 69,959 100,720
Male Population 45.2% 45.7% 46.1%
Female Population 54.8% 54.3% 53.9%
Median Age 31.6 28.3 29.7
Population Density (per sq. mi.) 2,800.9 2,474.3 1,282.4