Goodyear 8014 Geyer Springs Road Little Rock ARGoodyear 8014 Geyer Springs Road, Little Rock,...

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Goodyear 8014 Geyer Springs Road, Little Rock, Arkansas 72209 OFFERING MEMORANDUM

Transcript of Goodyear 8014 Geyer Springs Road Little Rock ARGoodyear 8014 Geyer Springs Road, Little Rock,...

Page 1: Goodyear 8014 Geyer Springs Road Little Rock ARGoodyear 8014 Geyer Springs Road, Little Rock, Arkansas 72209 OFFERING MEMORANDUM Jessica Dearnley Broker of Record License No. PB00069947

Goodyear8014 Geyer Springs Road, Little Rock, Arkansas 72209

OFFERING MEMORANDUM

Page 2: Goodyear 8014 Geyer Springs Road Little Rock ARGoodyear 8014 Geyer Springs Road, Little Rock, Arkansas 72209 OFFERING MEMORANDUM Jessica Dearnley Broker of Record License No. PB00069947

This Marketing Brochure contains select information pertaining to the business and affairs of Goodyear located at 8014 Geyer Springs Road, Little Rock, Arkansas 72209 here to referred to as “Property”. Information in this Marketing Brochure is confidential and provided solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose and may not be made available to any other person without the written consent of the Seller or Matthews Retail Group, Inc.

This Marketing Brochure has been prepared by Matthews Retail Group, Inc. (also known as Matthews Retail Advisors) based in part upon information supplied by the Seller and in part upon financial information obtained from sources deemed reliable by Matthews Retail Group, Inc. However, Matthews Retail Group, Inc. has not and will not verify any of this information, nor has Matthews Retail Group, Inc. conducted any investigation regarding these matters. Matthews Retail Group, Inc. makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

It is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for the Buyer’s thorough due diligence investigation of this investment opportunity. Matthews Retail Group, Inc. expressly denies any obligation to conduct a due diligence examination of this Property for the Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this Property. The value of a net leased property to the Buyer depends on factors that should be evaluated by the Buyer and their tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any property to determine to their satisfaction the suitability of the Property for their investment goals.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the Property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future performance.

Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the Property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the Property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the Property, and Buyer’s legal ability to make alternate use of the Property.

By accepting this Marketing Brochure you agree to release the Seller and Matthews Retail Group, Inc. of any and all liability and hold the parties harmless from any kind of claim, cost, or expense arising out of your investigation and/or purchase of this Property.

NON-ENDORSEMENT NOTICEMatthews Retail Group, Inc. is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this Marketing Brochure. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Matthews Retail Group, Inc., its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Matthews Retail Group, Inc., and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

CONFIDENTIALITY & DISCLAIMER STATEMENT

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Page 3: Goodyear 8014 Geyer Springs Road Little Rock ARGoodyear 8014 Geyer Springs Road, Little Rock, Arkansas 72209 OFFERING MEMORANDUM Jessica Dearnley Broker of Record License No. PB00069947

PRICING AND FINANCIAL ANALYSISFinancial Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Company Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

PROPERTY DESCRIPTIONProperty Overview. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5Bird’s Eye . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Tenant Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7Regional Map. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

DEMOGRAPHICSDemographics Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10City Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

TABLE OF CONTENTS

PRESENTED BY

Jessica DearnleyBroker of Record

License No. PB00069947

Chuck EvansAssociate

License No. 01963473O 310.919.5841M [email protected]

Calvin ShortVP & Senior Director - STNL

License No. 01927216O 310.919.5770M [email protected]

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Page 4: Goodyear 8014 Geyer Springs Road Little Rock ARGoodyear 8014 Geyer Springs Road, Little Rock, Arkansas 72209 OFFERING MEMORANDUM Jessica Dearnley Broker of Record License No. PB00069947
Page 5: Goodyear 8014 Geyer Springs Road Little Rock ARGoodyear 8014 Geyer Springs Road, Little Rock, Arkansas 72209 OFFERING MEMORANDUM Jessica Dearnley Broker of Record License No. PB00069947

™PRICING AND FINANCIAL ANALYSIS

Page 6: Goodyear 8014 Geyer Springs Road Little Rock ARGoodyear 8014 Geyer Springs Road, Little Rock, Arkansas 72209 OFFERING MEMORANDUM Jessica Dearnley Broker of Record License No. PB00069947

EXECUTIVE SUMMARY8014 Geyer Springs Road Little Rock, Arkansas 72209List Price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $410,000Gross Leasable Area . . . . . . . . . . . . . . . . . . . . . . . . . 2,454 SFCAP Rate - Current. . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.50 %Year Built . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1972Lot Size . . . . . . . . . . . . . . . . . . . . . . . . ± 0.65 Acres (28,314 SF)

ANNUALIZED OPERATING DATAMonthly Rent Annual Rent CAP Rate

Current $3,250.00 $39,000.00 9.50%

Option 1 $2,950.00 $35,400.00 8.63%

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Financial Overview

TENANT SUMMARYTenant Trade Name Goodyear

Type of Ownership Fee Simple

Lease Guarantor Corporate

Lease Type NN

Roof and Structure Landlord Responsible

Original Lease Term 15 years

Lease Commencement Date 5/1/2002

Rent Commencement Date 5/1/2002

Lease Expiration Date 4/30/2017

Options One 3-Year

Page 7: Goodyear 8014 Geyer Springs Road Little Rock ARGoodyear 8014 Geyer Springs Road, Little Rock, Arkansas 72209 OFFERING MEMORANDUM Jessica Dearnley Broker of Record License No. PB00069947

Property Name Goodyear

Property Type Auto Service

Parent Company Trade Name The Goodyear Tire & Rubber Company

Ownership Public

Credit Rating BB-

Rating Agency Standard &Poor’s

Revenue $16.44 B

Net Income $307 M

Stock Symbol GT

Board NYSE

No. of Locations ± 718

No. of Employees (All) ± 66,000

Headquartered Akron , OH

Web Site www.goodyear.com

Year Founded 1898

When the rubber hits the road, most years are good years for Goodyear Tire & Rubber. Through a global alliance with Sumitomo Rubber Industries, Goodyear is working to unseat tire industry leaders Bridgestone and Michelin (by total sales). Goodyear sells mainly new tires under the Goodyear, Dunlop, Kelly, Fulda, Debica, and Sava brand names. With Sumitomo, Goodyear makes, markets, and sells Dunlop tires in North America and Western Europe. In Japan, the tire makers own businesses that sell tires separately to OEMs and to aftermarket companies. Goodyear sells some 58% of its products outside the US.

hoovers.com

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Company Overview

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™PROPERTY DESCRIPTION

Page 9: Goodyear 8014 Geyer Springs Road Little Rock ARGoodyear 8014 Geyer Springs Road, Little Rock, Arkansas 72209 OFFERING MEMORANDUM Jessica Dearnley Broker of Record License No. PB00069947

THE OFFERINGProperty Name . . . . . . . . . . . . . . . . . . . . . . . . . . . . GoodyearProperty Address . . . . . . . . . . . . . . . . . 8014 Geyer Springs Road Little Rock, Arkansas 72209Assessor’s Parcel Number . . . . . . . . . . . . . . . 44L-206-00-002-00

SITE DESCRIPTIONNumber of Stories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OneYear Built . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1972Gross Leasable Area (GLA) . . . . . . . . . . . . . . . . . . . . . 2,454 SFLot Size . . . . . . . . . . . . . . . . . . . . . . . . ± 0.65 Acres (28,314 SF)Type of Ownership. . . . . . . . . . . . . . . . . . . . . . . . . Fee SimpleParking . . . . . . . . . . . . . . . . . . . . . . . . . . ± 24 Surface SpacesParking Ratio . . . . . . . . . . . . . . . . . . . . . . . . . . .4.31 : 1,000 SFLandscaping . . . . . . . . . . . . . . . . . . . . . . . . . . . . ProfessionalTopography. . . . . . . . . . . . . . . . . . . . . . . . . . . Generally Level

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Property Overview

PROPERTY DESCRIPTION

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Bird’s Eye

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Tenant Map

PROPERTY DESCRIPTION

Page 12: Goodyear 8014 Geyer Springs Road Little Rock ARGoodyear 8014 Geyer Springs Road, Little Rock, Arkansas 72209 OFFERING MEMORANDUM Jessica Dearnley Broker of Record License No. PB00069947

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Regional Map

Page 13: Goodyear 8014 Geyer Springs Road Little Rock ARGoodyear 8014 Geyer Springs Road, Little Rock, Arkansas 72209 OFFERING MEMORANDUM Jessica Dearnley Broker of Record License No. PB00069947

™DEMOGRAPHICS

Page 14: Goodyear 8014 Geyer Springs Road Little Rock ARGoodyear 8014 Geyer Springs Road, Little Rock, Arkansas 72209 OFFERING MEMORANDUM Jessica Dearnley Broker of Record License No. PB00069947

Population 1-Mile 3-Mile 5-Mile

2021 Projection 10,883 40,973 95,249

2016 Estimate 10,635 40,477 93,704

2010 Census 10,380 40,226 92,437

2000 Census 8,743 39,306 91,185

Growth 2016-2021 2.33% 1.23% 1.65%

Growth 2010-2016 2.46% 0.62% 1.37%

Growth 2000-2010 18.72% 2.34% 1.37%

Households

2021 Projection 3,825 14,963 36,331

2016 Estimate 3,758 14,758 35,667

2010 Census 3,715 14,611 34,984

2000 Census 3,385 14,774 34,696

Growth 2016-2021 1.77% 1.39% 1.86%

Growth 2010-2016 1.17% 1.01% 1.95%

Growth 2000-2010 9.75% -1.11% 0.83%

Income

$0 - $15,000 23.53% 21.03% 21.32%

$15,000 - $24,999 18.50% 16.72% 16.01%

$25,000 - $34,999 18.74% 15.00% 13.53%

$35,000 - $49,999 16.22% 18.90% 17.49%

$50,000 - $74,999 11.24% 14.17% 15.20%

$75,000 - $99,999 7.85% 8.36% 8.17%

$100,000 - $124,999 2.06% 3.39% 4.29%

$125,000 - $149,999 0.73% 1.13% 1.88%

$150,000 - $199,999 0.44% 0.86% 1.42%

$200,000 - $249,999 0.14% 0.20% 0.40%

$250,000 - $499,999 0.31% 0.14% 0.22%

$500,000+ 0.24% 0.09% 0.07%

2016 Est. Average Household Income $38,468 $41,674 $44,640

2016 Est. Median Household Income $29,251 $33,170 $34,363

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Demographics Report

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City Overview

LITTLE ROCK, AR Little Rock, Arkansas sits on the banks of the Arkansas River in Pulaski County. And with a population of nearly 200,000 people, it’s the largest city in Arkansas. Little Rock is a major cultural, economic, government and transportation center within Arkansas and the South.

The list of focal points around the city includes the Clinton Presidential Center & Park, neighboring world headquarters of Heifer International with its Heifer Village, and the Central Arkansas Nature Center.

The city includes cultural institutions such as the Arkansas Arts Center, the Arkansas Repertory Theatre, and the Arkansas Symphony Orchestra, in addition to the hiking, boating, and other outdoor recreational opportunities. The Arkansas Repertory Theatre is the state’s largest nonprofit professional theatre company. A member of the League of Resident Theatres (LORT D), The Rep has produced more than 300 productions, including 40 world premieres, in its historic building located in downtown Little Rock.

Little Rock’s history is also available to residents and visitors in a variety of ways; history museums, historic districts or neighborhoods like the Quapaw Quarter, and historic sites like Little Rock Central High School. The Historic Arkansas Museum is a regional history museum focusing primarily on the frontier time period. The MacArthur Museum of Arkansas Military History opened in 2001, the last remaining structure of the original Little Rock Arsenal and one of the oldest buildings in central Arkansas, it was also the birthplace of General Douglas MacArthur who would go on to be the supreme commander of US forces in the South Pacific during World War II.

The city is the headquarters of Dillard’s, Windstream Communications, Acxiom, Stephens Inc., University of Arkansas for Medical Sciences, Heifer International, the Clinton Foundation, and the Rose Law Firm. University of Arkansas for Medical Sciences and its healthcare partners — Arkansas Children’s Hospital and the Central Arkansas Veterans Healthcare System—have a total economic impact in Arkansas of about $5 billion per year. Other large corporations, including Dassault Falcon Jet and LM Wind Power have large operations in the city. State government is also a large employer, with most offices being located in downtown Little Rock.

Page 16: Goodyear 8014 Geyer Springs Road Little Rock ARGoodyear 8014 Geyer Springs Road, Little Rock, Arkansas 72209 OFFERING MEMORANDUM Jessica Dearnley Broker of Record License No. PB00069947

841 Apollo Street, Suite 150 | El Segundo, CA 90245 | www.matthews.com™

Goodyear8014 Geyer Springs Road, Little Rock, Arkansas 72209

OFFERING MEMORANDUM

Jessica DearnleyBroker of Record

License No. PB00069947

Chuck EvansAssociate

License No. 01963473O 310.919.5841M [email protected]

Calvin ShortVP & Senior Director - STNL

License No. 01927216O 310.919.5770M [email protected]