For Sale $1,996,100kaseholdings.com/properties/proposals/Talbots Oklahoma...3 All Sperry Van Ness®...

$1,996,100For Sale

Talbots Leasehold Offering | Oklahoma City,OK

|

Offering Highlights

Long Term Leasehold Interest

Net Lease with Limited Landlord Obligations

Scheduled Increases in Rent Every 5 Years

Newly Built in 2008 of All Masonry Construction

Strong Upside Potential - Substantially Below MarketRent

www.TheKaseGroup.com

Kase Abusharkh BRE#01311211Managing [email protected]

Jacob Abusharkh BRE#01385529Managing [email protected]

2www.TheKaseGroup.comAll Sperry Van Ness® Offices Independently Owned & Operated.

The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

CONFIDENTIAL OFFERING MEMORANDUM

Talbots Leasehold Offering Confidentiality & Disclaimer

The material contained in this Investment OfferingBrochure is furnished solely for the purpose of consideringthe purchase of the property within and is not to be usedfor any other purpose. This information should not, underany circumstances, be photocopied or disclosed to anythird party without the written consent of Sperry Van Nessor Owner, or used for any purpose whatsoever other thanto evaluate the possible purchase of the Property.

The only party authorized to represent the Property Owner(“Owner”) in connection with the sale of the Property is theSperry Van Ness Advisor listed in this proposal, and noother person is authorized by the Owner to provide anyinformation or to make any representations other thancontained in this Investment Offering Brochure. If theperson receiving these materials does not choose topursue a purchase of the Property, this Offering Brochuremust be returned to Sperry Van Ness.

Neither the Sperry Van Ness Advisor nor the Owner makeany representation or warranty, express or implied, as tothe accuracy or completeness of the information containedherein, and nothing contained herein is or shall be reliedupon as a promise or representation as to the futureperformance of the Property. This Offering Brochure mayinclude certain statements and estimates by Sperry VanNess with respect to the projected future performance ofthe Property. These Assumptions may or may not be provento be correct, and there can be no assurance that suchestimates will be achieved. Further, the Sperry Van NessAdvisor and the Owner disclaim any and all liability forrepresentations or warranties, expressed or implied,contained in or omitted from this Investment OfferingBrochure, or any other written or oral communicationtransmitted or made available to the recipient. Therecipient shall be entitled to rely solely on thoserepresentations

and warranties that may be made to it in any final, fullyexecuted and delivered Real Estate Purchase Agreementbetween it and Owner.

The information contained herein is subject to changewithout notice and the recipient of these materials shallnot look to Owner or the Sperry Van Ness Advisor, nor anyof their officers, employees, representatives, independentcontractors or affiliates, for the accuracy or completenessthereof. Recipients of this Investment Offering Brochure areadvised and encouraged to conduct their owncomprehensive review and analysis of the Property.

This Investment Offering Brochure is a solicitation ofinterest only and is not an offer to sell the Property. TheOwner expressly reserves the right, at its sole discretion, toreject any or all expressions of interest to purchase theProperty and expressly reserves the right, at its solediscretion, to terminate negotiations with any entity, forany reason, at any time with or without notice. The Ownershall have no legal commitment or obligation to any entityreviewing the Investment Offering Brochure or making anoffer to purchase the Property unless and until the Ownerexecutes and delivers a signed Real Estate PurchaseAgreement on terms acceptable to Owner, in Owner’s solediscretion. By submitting an offer, a prospective purchaserwill be deemed to have acknowledged the foregoing andagreed to release the Owner and the Sperry Van NessAdvisor from any liability with respect thereto.

To the extent Owner or any agent of Owner correspondswith any prospective purchaser, any prospective purchasershould not rely on any such correspondence or statementsas binding Owner. Only a fully executed Real EstatePurchase Agreement shall bind the property and eachprospective purchaser proceeds at its own risk.

Disclaimer | Confidentiality



CONFIDENTIAL OFFERING MEMORANDUM

Talbots Leasehold Offering Table Of Contents

Table of Contents

1. PROPERTY OVERVIEW 4

Offering Highlights 5

Executive Summary 6

Tenant Summary 7

2. FINANCIAL OVERVIEW 8

Financial Summary 9

Rent Roll 10

3. LOCATION OVERVIEW 11

Location Maps 12

Site Plan 13

Aerial Photos 14

Property Photos 15

4. DEMOGRAPHICS 16

Demographics Report 17

Demographics Map 18

Back Page 19

4

Confidential Offering Memorandum


1

Talbots Leasehold Offering

PROPERTY OVERVIEW

All Sperry Van Ness® Offices Independently Owned & Operated.


Offering Highlights

Executive Summary

Tenant Summary

Offering HighlightsLong Term Leasehold Interest

Net Lease with Limited Landlord Obligations

Scheduled Increases in Rent Every 5 Years

Newly Built in 2008 of All Masonry Construction

Strong Upside Potential - Substantially Below MarketRent

Heavily Trafficked Hard Corner Location

Located Across from the Penn Square Mall - Major 1.1Million Square-Foot Oklahoma City Mall

Major Mall Tenants Include Dillard's, Macy's, andJCPenney

Other Major Retailers in the Vicinity Include WalmartSupercenter, Babies R Us, Old Navy, Shoe Carnival,Ross, Chili's, McDonald's, Olive Garden, Verizon, Chick-fil-A, Pier 1, and Many Others



1. PROPERTY OVERVIEW

Talbots Leasehold Offering Offering Highlights



Sale Price: $1,996,100

Cap Rate: 9.96%

NOI: $198,834

Lot Size: 0.75 Acres

Building Size: 10,000 SF

Year Built: 2008

Market: Oklahoma City

Cross Streets: North Barnes Avenue &Northwest 54th Street

Traffic Count: 58,894 ADT atIntersection


Presented by

Property Overview

Investment Overview

2125 Northwest Expressway • Oklahoma City, OK 73112

Property This is the rare opportunity to acquire a long term leasehold Talbots in Oklahoma City. The lease is NN and callsfor limited landlord obligations. It commenced in 2008 and runs through January of 2024. Beyond the initialterm, there are five 5 year renewal options. The ground lease also began in 2008 and runs to June of 2028.There are four 5 year options beyond the initial term. This offers significant upside potential due to belowmarket rent.

Location Oklahoma City is the capital of the state of Oklahoma and its largest city. The county seat of Oklahoma County,the city ranks 29th among United States cities in population. As of the 2012 census, the population was599,199. In 2010 the Oklahoma City metropolitan area had a population of 1,252,987, and the OklahomaCity-Shawnee Combined Statistical Area had a population of 1,322,249 residents, making it Oklahoma's largestmetropolitan area. The city ranks as the eighth-largest city in the United States by land area.

[email protected]

KASE ABUSHARKH BRE#01311211

[email protected]

JACOB ABUSHARKH BRE#01385529

415.269.2474

For Sale | Retail


Tenant Overview

Talbots is multi-channel retailer of women’s classic clothing, shoes andaccessories established in 1947. At the end of fiscal 2012, the companyoperated 504 Talbots brand stores throughout the U.S. (in 45 states) andCanada. The company's retail operation comprises approximately 85percent of its overall business, with catalog and internet sharing thebalance. Online sales represent more than 70 percent of the directbusiness. Talbots employs more than 9,000 associates throughout theU.S. and Canada.

In 1947, the husband and wife team of Rudolf and Nancy Talbot openedtheir first shop in Hingham, Massachusetts, a town not far from Bostonon the South Shore. In 1948, Rudy and Nancy launched their direct mailbusiness by distributing 3,000 black-and-white fliers to names obtainedfrom The New Yorker magazine. With a growing catalog enterprise andfive stores in upscale outskirts like Hingham, Duxbury and Lenox, theysold the company to General Mills in 1973. Expansion ensued up anddown the East Coast, but when General Mills divested its Specialty RetailDivision in 1988, Talbots was acquired by JUSCO Co Ltd. (now ÆON CoLtd.). Talbots became a public company in 1993 and was traded on theNew York Stock Exchange under the symbol TLB. The private equity firmSycamore Partners acquired Talbots in August 2012 for $391 million.

The company’s core business encompasses its Talbots (Misses) line, aswell as Talbots Petites, Talbots Woman and Woman’s Petites. Thecompany also offers fashion accessories and shoes.

Additionally, Talbots operates Upscale Outlet and Clearance stores.Introduced in 2009, the Upscale Outlet stores feature specially designedmerchandise at great values. Clearance stores offer Talbots merchandisefrom previous seasons at reduced prices.



Corporate Information

Ownership Type Private

Founded 1947, Hingham, MA

Headquarters Hingham, MA

No. of Locations 517 (2012)

Employees 9,000+

Website www.Talbots.com

Tenant Summary

8



2


FINANCIAL OVERVIEW



Financial Summary

Rent Roll



2. FINANCIAL OVERVIEW

Talbots Leasehold Offering Financial Summary

Investment Overview

Price $1,996,100

Price per SF $199.61

CAP Rate 9.96%

Operating Data

Gross Leasehold Income $347,500

Less Ground Rent ($145,166)

Less Landlord Reserve ($3,500)

Net Income $198,834

Ground Rent

Annual Ground Rent $145,166

Ground Lease Dates June 11, 2008 - June 10, 2028

Increases CPI Every 5 Years

Renewals Four 5 Year Options

2125 Northwest Expressway | Oklahoma City, OK 73112 For Sale | $1,996,100



2. FINANCIAL OVERVIEW

Talbots Leasehold Offering Rent Roll

UnitSize (SF)

TenantName

LeaseStart

LeaseEnd

AnnualRent Increases Options

10,000 The Talbots, Inc. 9/18/2008 1/31/2024 $347,500 Rent increases to$367,500 in

Year 11 (Feb. 2018)

Tenant has five5 year renewal

options

Rent increases to$387,500 in Option 1

Rent increases to$407,500 in Option 2


11



3


LOCATION OVERVIEW



Location Maps

Site Plan

Aerial Photos

Property Photos

3. LOCATION OVERVIEW

Talbots Leasehold Offering Location Maps






Talbots Leasehold Offering Site Plan

Talbots Leasehold Offering Aerial Photos






Talbots Leasehold Offering Property Photos

16



4


DEMOGRAPHICS



Demographics Report

Demographics Map

Back Page

Total Population

Total Number of Households

Total Number of Persons per Household

Average House Value

Average Household Income

Median Age

Median Age - Male

Median Age - Female

Total Population - White

Total Percent - White

Total Population - Black

Total Percent - Black

Total Population - Asian

Total Percent - Asian

Total Population - Hawaiian

Total Percent - Hawaiian

Total Population - Indian

Total Percent - Indian

Total Population - Other

Total Percent - Other

Total Population - Hispanic

Total Percent - Hispanic

215 2,460 5,9812.3% 2.6% 2.8%

81 2,636 5,9860.9% 2.8% 2.8%


* Demographic information provided by BuildOut, Inc.

5,031 42,818 92,072

1.9 2.2 2.3

$221,210 $194,313 $158,449

$68,399 $64,483 $56,863

43.7 35.9 36.141.1 34.6 34.5

45.0 37.1 37.1

657 5,207 8,3367.0% 5.5% 3.9%

549 10,528 41,7785.8% 11.1% 19.6%

12 76 1110.1% 0.1% 0.1%

7,440 67,932 135,69878.7% 71.6% 63.7%

9,450 94,934 212,890

763 11,969 30,3448.1% 12.6% 14.3%

1 Mile 3 Miles 5 Miles

4. DEMOGRAPHICS

Talbots Leasehold Offering Demographics Report



4. DEMOGRAPHICS

Talbots Leasehold Offering Demographics Map



* Demographic information provided by BuildOut, LLC

2125 Northwest Expressway | Oklahoma City, OK 73112 Radius Map

1 Mile 3 Miles 5 Miles

Total Population 9,450 94,934 212,890

Total Number of Households 5,031 42,818 92,072

Average Household Income $68,399 $64,483 $56,863

Median Age 43.7 35.9 36.1

Presented by |

[email protected]

Kase Abusharkh BRE#01311211

Managing Director

925.348.1844

[email protected]

Jacob Abusharkh BRE#01385529

Managing Director

415.269.2474

All Sperry Van Ness® Offices Independently Owned & Operated. | © 2011 All rights reserved. |www.svn.com

For Sale $1,996,100kaseholdings.com/properties/proposals/Talbots Oklahoma...3 All Sperry Van Ness®...

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