INVESTMENT OPPORTUNITY WITH A FORTUNE 500 COMPANY … · INVESTMENT OPPORTUNITY WITH A FORTUNE 500...

1225 Thomaston Avenue Waterbury, CT 06704

Retail Investment Property For Sale at $765,000.00 OR AS PART OF A TWO PROPERTY PORTFOLIO

INVESTMENT OPPORTUNITY WITH A FORTUNE 500 COMPANY TENANT

Broker: Jon Angel President

203.335.6600, Ext. 21

[email protected]

ANGEL C O M M E R C I A L , L . L . C .

2425 POST ROAD, SUITE 303, SOUTHPORT, CT 06890 • TEL 203.335.6600 • FAX 203.335.9900 • WWW.ANGELCOMMERCIAL.COM

No warranty or representation, express or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors,omissions, change of price, rental or other conditions, withdrawal without notice and to any special listing conditions imposed by our principals.

FOR SALE 1225 Thomaston Avenue Waterbury, CT 06704

FOR SALEContents

Page

3

4

5

6

7

8

9

10

17

Property Overview

Portfolio Description

PPG Industries Acquires Painter’s Supply

Location Map

Town Overview

Fact Sheet

Neighborhood Map

Parcel Map

Zoning Regulations IG - City of Waterbury

Confidentiality Agreement

11


203.335.6600, Ext. 21

[email protected]



No warranty or representation, express or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors,omissions, change of price, rental or other conditions, withdrawal without notice and to any special listing conditions imposed by our principals. 2



X 100% leased property offers approximately 6,615 SF on .67 acres

X Projected 2018 NOI: $65,052.69 with scheduled increases and 8.5% CAP rate

X Corporate Guarantee from Fortune 500 Company, PPG Industries

X NNN lease with rate increases over the term

X Individual asset from a multi-property portfolio

X Near top national retailers including Target, CVS, McDonald’s, Sears, Subway, Dollar General, Starbucks, Radio Shack, AutoZone, Family Dollar, Kmart, Staples, 7 Eleven and TJ Maxx.

X Located less than one mile from Route 8, Exit 36

Retail Investment Property For Sale at $765,000.00


203.335.6600, Ext. 21

[email protected]




FOR SALE Two Property PortfolioPortfolio Description PPG Industries

ABOUT THE PORTFOLIO

Two Locations in Connecticut

Angel Commercial, L.L.C. is pleased to offer the sale of the Connecticut PPG Portfolio consisting of two fully leased properties located in Danbury and Waterbury. The portfolio is for sale in its entirety for $2,448,000 or as individual assets. Total portfolio offers approximately 13,901 RSF. The projected 2018 NOI is $208,168,61with scheduled increases and a CAP rate of 8.5%.

Pittsburgh Paint (PPG Industries) assumed all of the leases within this portfolio as a result of their purchase of Painter’s Supply. As a $15 billion, Fortune 500 company, and global supplier of paints and specialty products, PPG Industries’ recent acquisition of Painter’s Supply strengthens this investment portfolio.

This portfolio offers an investor a rare opportunity to acquire two net leased assets in Connecticut. Each property is well maintained and located near or on main streets with excellent accessibility, visibility, demographics and ample parking. Properties are located within shopping locations and have easy access to major highways.

ABOUT

PPG Industries (DBA, Pittsburgh Paint)

Headquartered in Pittsburgh, PA, PPG Industries (NYSE: PPG) is ranked 183 on the Fortune 500 list (2017) and announced 2016 net sales of $15.178 billion. With approximately 47,000 employees worldwide and 156 manufacturing facilities in 70 countries, PPG Industries is the leading global coatings and specialty products company.

Pittsburgh Paint is only one of PPG Architectural Coatings’ products. Other common products include; GLIDDEN®, LIQUID NAILS®, OLYMPIC® Paints and Stains, PPG PITTSBURGH PAINTS®, and MANOR HALL®. They distribute their products globally and are available at all major home improvement centers including Lowe’s, Home Depot and Walmart.

DANBURY, CT

WATERBURY, CT


203.335.6600, Ext. 21

[email protected]






News Release

News release taken from PPG Industries’ website

2014PPG ACQUIRES CONNECTICUT-BASED ARCHITECTURAL PAINT DISTRIBUTOR PAINTER’SSUPPLY

PITTSBURGH, June 2, 2014 – PPG Industries (NYSE:PPG) today announced that its North American architectural coatings business has acquired substantially all of the assets of Painter’s Supply, an independent architectural paint distributor headquartered in Connecticut. Painter’s Supply operates 10 locations in Connecticut and Massachusetts. Financial terms were not disclosed.

“The acquisition of Painter’s Supply supports our dedication to our professional customers,” said Scott Sinetar, PPG vice president, architectural coatings, North America. “A fundamental part of our strategy is to expand distribution to professional painters and contractors.

“Independent dealers continue to be a key distribution channel for our business and our products, which is why we’re investing more in our independent dealers now than ever before. However, when dealers are looking for a partner, PPG is constantly looking for ways to strengthen its network,” Sinetar continued.

PPG Architectural Coatings is an industry leader in residential and commercial coatings and products. The business produces paints, stains and specialty coatings marketed under well-recognized product lines such as the FLOOD®, GLIDDEN®, LIQUID NAILS®, MANOR HALL®, OLYMPIC®, PPG PITTSBURGH PAINTS®, PPG PORTER PAINTS®, PPG Paints and SIKKENS® brands. Its distribution network includes more than 900 company-owned stores in North America, more than 5,000 independent dealer locations and all major home improvement centers.

PPG: BRINGING INNOVATION TO THE SURFACE.™PPG Industries' vision is to continue to be the world’s leading coatings and specialty materials company. Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Net sales in 2013 were $15.1 billion. PPG shares are traded on the New York Stock Exchange(symbol:PPG). For more information, visit www.ppg.com and follow @PPGIndustries on Twitter.

Bringing innovation to the surface is a trademark of PPG Industries Ohio, Inc.FLOOD, GLIDDEN, LIQUID NAILS, MANOR HALL, OLYMPIC, PPG PITTSBURGH PAINTS and PPG PORTER PAINTS are registered trademarks of the PPG group of companies.SIKKENS is a registered trademark of AkzoNobel.

Media:Mark Silvey

412-434-3046PPG Corporate [email protected]

Investors:Vince MoralesPPG Investor [email protected]/investor

PPG Acquires Painter’s Supply


203.335.6600, Ext. 21

[email protected]




Two Property Portfolio PPG Industries

2

211WhiteStreet,Danbury,CT06810

1225ThomastonAvenue,Waterbury,CT06704

1

DANBURY, CT

WATERBURY, CT

2

1

FOR SALELocation Map


203.335.6600, Ext. 21

[email protected]




Waterbury Connecticut 06704


Waterbury, CTWaterbury is a city in Connecticut on the Naugatuck River, 33 miles (45 minutes) southwest of Hartford and 77 miles (90 minutes) northeast of New York City. Waterbury is located in New Haven County, Connecticut. As of the 2010 census, Waterbury had a total population of 110,366, making it the 10th largest city in the New York Metropolitan Area, 9th largest city in New England and the 5th largest city in Connecticut

The city is located along Interstate 84 (Yankee Expressway) and Route 8 and has a Metro-North railroad station with connections to Grand Central Terminal. Waterbury is also home to Post University and the regional campuses of the University of Connecticut, University of Bridgeport, Western Connecticut State University as well as Naugatuck Valley Community College.

Although manufacturing remains the mainstay of the Waterbury economy, the city is working toward diversifying its industrial base. New areas include chemical research and services such as banking. Area analysts and real estate brokers consider Waterbury a major Northeast distribution and warehouse center because of its proximity to interstate highways and affordable real estate prices. The commercial/retail segment of the city’s economic base has been substantially enhanced by the development of a large regional mall, and other sizable retail projects.

New Haven County

Connecticut

Waterbury

TOWN OVERVIEW


203.335.6600, Ext. 21

[email protected]




FOR SALE 1225 Thomaston Avenue Waterbury, CT 06704Fact Sheet


203.335.6600, Ext. 21

[email protected]




INVESTMENT OPPORTUNITY WITH A FORTUNE 500 COMPANY TENANT: 6,615 RSF one-story building on 0.67 acres for sale with ampleparking. Renovated in 2011. Fully leased to a single tenant, PPG Paints (formerly Painter’s Supply) with a corporate guarantee from a Fortune500 company. The projected 2018 NOI is $65,052.69 with an 8.5% CAP rate.

Near top national retailers including Target, CVS, McDonald’s, Sears, Subway, Dollar General, Starbucks, Radio Shack, AutoZone, Family Dollar,Kmart, Staples, 7 Eleven and TJ Maxx. Located less than 1 mile from Route 8, Exit 36.

Also available for sale as part of a 2 Property Investment Portfolio.

Space Available: 6,615 RSF

Total Building Size:

Land:

Real Estate Taxes:

Zoning:

Year Built:

Construction:

Stories:

Tenancy:

Occupancy:

6,615 RSF

0.67 acres

$29,783.48 (2018)

IG

1962, renovated in 2011

Masonry

One

Single

100%

The SiteCap Rate: 8.5%

Projected 2018 NOI: $65,052.69

Financial Information

Traffic Count::

Parking:

8,000 Average Daily Traffic Volume

Ample

Features

Water/Sewer: City/City

Heating: Gas

Utilities

Population: 82,852

Median HH Income: $42,178

Three Mile DemographicsPopulation: 145,073

Median HH Income: $51,889

Five Mile Demographics



Neighborhood Map

1225 Thomaston Avenue

NEAR TOP NATIONAL RETAILERS

INCLUDING:

RetailerDistance (miles)

Subway .5

Target 1.1

Starbucks 1.1

McDonald’s 1.2

RadioShack 1.2

Aldi 1.4

7-Eleven 1.5

Burger King 1.5

CVS 1.6

AutoZone 1.8

Family Dollar 2.7

Staples 3.0

TJ Maxx 3.1

Kmart 3.3

Sears 3.3

Dollar General 4.2

REGIONAL RETAILERS INCLUDING:

Stop & Shop 1.2

Ocean State Job Lot 2.8


203.335.6600, Ext. 21

[email protected]





24

m256.43

d100

m21

6.42

m35

.94

80.5

5+/-

d77.

96

d55.75

121

59+/-

m154.4

m145.92m112.8

m125

d152.11

d79.33

d56.19

d244.63

d99.15

d113.19

d33.2116.77

d149

+/-

149.

16

20.76 Ac

#

43.98 Ac#1245

30.67 Ac#1225

286.6 Ac

#

51.13 Ac#1215

510.5 Ac#1230T H

OM

AST

ON

AVE

City of WaterburyPublic Works Department

0 50 10025Feet

This map is for informational purposes only and has not been prepared for, or suitable for legal, engineering, or surveying

purposes. Users of this information should review or consult the primary data and information sources to verify the usability of the information. The City of Waterbury makes no warranties, express

or implied, as to the use of the information obtained herein.

0115-0024-0003MBL:

ADDRESS: 1225 THOMASTON AVE

Parcel Map


203.335.6600, Ext. 21

[email protected]





Zoning regulations provided herein are subject to change without notice. Please visit the City of Waterbury website to view current zoning regulations..

CITY OF WATERBURY, CONNECTICUT

ZONING REGULATIONS

ARTICLE 4PERMITTED

USES

Page | 33 Waterbury Zoning Regulations Table of Contents

Section 4.08 Master Use Table

USE CATEGORIES RS12 RS RL RM RH RO CN CO CA CG CBD IG IL IP STANDARDS

RESIDENTIAL USES

Single Family Residence ZP ZP ZP ZP SP ZP SP SP

Two/Three Family Residence SP* SP* SP* ZP

SPZP SP

ZP SP SP 10.02

Multi-Family Residence ZP SP

ZP SP

ZP SP SP SP 10.02

Active Adult Housing SE SE SE SE SE SE SE SE 10.03

Residential Campus Development SE SE SE SE SE 10.04

Planned Residential ConservationDevelopment

SE SE SE SE SE 10.05

Group Living SP SP SP ZP ZP ZP 10.06

Halfway Residences SP SP SP SP 10.07

Short-term Lodging ZP ZP ZP ZP ZP

* two family only, permitted in conjunction with a Planned Residential Conservation Development

WATERBURY, CT - GENERAL INDUSTRIAL DISTRICT (IG)

11


ZONING REGULATIONS

ARTICLE 4PERMITTED

USES



COMMERCIAL USES

Mixed Use Planned Development SP SP SP SP SP SP SP 10.08

Retail Sales SP SP ZP ZP ZP ZP ZP SP

Package Store SP SP SP SP SP SP 10.09

Eating and Drinking Establishments SP ZP ZP ZP ZP ZP ZP SP ZP SP

Personal, Business and Repair Services SP SP ZP ZP ZP ZP ZP SP

Entertainment Uses SP SP ZP ZP ZP ZP SP SP SP

Large Venue Event Facilities SP SP SP SP SP SP SP 10.10

Shopping Centers SP ZP ZP ZP ZP ZP SP 10.11

Food Processing and Sales SP SP SP SP ZP ZP ZP ZP SP ZP ZP ZP

Adult Establishment ZP 10.12

Recreation Uses SP SP ZP ZP ZP ZP ZP SP SP SP

Social Gathering Places SP SP SP ZP ZP ZP ZP SP

Automobile and Marine Craft Trade ZP SP ZP ZP ZP

44

Section 6-3 Office/Retail General Zone (OR-G)

6-3-1 Purpose: The purpose of the Office/Retail General (OR-G) Zone is to comply with the adopted Comprehensive Plan's recommendation for a zone to allow a mix of predominantly auto-accommodating commercial, office, and retail development andresidential uses within the zone and within individual structures, in areas alreadypredominantly developed for this use. The zone allows a full range of retail and service



IGZoning Regulations

City of Waterbury Connecticut

12


ZONING REGULATIONS

ARTICLE 4PERMITTED

USES



Commercial Outdoor Recreation SP SP SP SP SP SP ZP ZP ZP ZP 10.13

Office Uses SP ZP ZP ZP ZP ZP ZP SP SP SP

Medical Office ZP ZP ZP ZP ZP ZP SP SP SP

General Purpose Hospital Campus SE SE SE SE SE SE SE SE SE SE SE SE SE SE 10.14

Inpatient Clinic SP SP SP SP SP

Community Facilities SP SP SP SP SP SP ZP ZP ZP ZP ZP

Day Care Center SP SP SP ZP ZP ZP ZP ZP ZP ZP SP ZP ZP

Schools SP SP SP SP SP SP SP SP SP SP SP

Business and Trade Schools SP SP SP SP SP SP ZP ZP ZP

Colleges or Universities SE SE SE SE SE SE SE SE SE SE SE SE SE SE 10.14

Religious Institutions SP SP SP SP SP ZP ZP ZP ZP ZP ZP ZP 10.15

Essential Public Services ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP

Parks and Open Areas ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP

Kennel SP SP 10.23

44







13


ZONING REGULATIONS

ARTICLE 4PERMITTED

USES



Veterinary Services SP SP ZP ZP ZP ZP ZP SP

Wind Energy Conversion Systems

SP SP SP SP SP SP SP SP SP SP SP SP SP SP 10.25.

Crematories SP SP SP SP SP SP SP SP SP SP SP SP SP SP 10.26

INDUSTRIAL USES

Manufacturing and Processing ZP ZP ZP

Industrial Services ZP ZP ZP

Warehouse and Freight Handling ZP ZP ZP

Wholesale Trade SP SP SP SP ZP SP ZP ZP ZP

Limited Vehicle Service Facilities ZP SP ZP ZP ZP 10.16

Agriculture SP SP SP SP SP SP SP SP SP SP

Vehicle Service Facilities SP SP SP SP SP 10.16

Hazardous Industrial Operations SP 10.24

Commercial Earth Excavation SP 10.17

44







14


ZONING REGULATIONS

ARTICLE 4PERMITTED

USES



Basic Utilities ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP

Passenger Terminals SP SP SP SP SP SP SP SP SP SP SP

Commercial Parking Structure SP SP ZP ZP ZP ZP ZP SP SP SP 10.19

Surface Parking Lot SP SP SP SP SP SP SP SP SP SP 10.19

Commercial Energy Generation and Storage Facilities

SP SP SP

Wireless Communications Facilities

ZP ZP ZP 10.20

44







15


ZONING REGULATIONS

ARTICLE 4PERMITTED

USES



CONDITIONALACCESSORY USES

Home Occupation ZP ZP ZP ZP ZP ZP ZP ZP ZP 10.21

Livestock and Poultry ZP ZP ZP ZP ZP ZP 10.22

Drive Through Service SP ZP ZP ZP SP ZP ZP ZP

Outdoor Display ZP ZP ZP ZP ZP ZP

Accessory Earth Material Excavation*

ZP SP

ZP SP

ZP SP

ZP SP

ZP SP

ZP SP

ZP SP

ZP SP

ZP SP

ZP SP

ZP SP

ZP SP

ZP SP

ZP SP 10.18

Temporary Structures, Short Term ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP

Temporary Structures, Long Term SP SP SP SP SP SP SP SP SP SP SP SP SP SP

Temporary Event ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP ZP

Accessory Packaged Alcohol sales SP SP SP SP SP SP SP SP 10.09

Accessory Energy Facilities SP SP SP SP SP SP SP SP SP SP SP SP SP SP

Accessory Wireless Facilities SP SP SP SP SP ZP ZP ZP ZP ZP ZP ZP ZP ZP

* Removal of more than 500 cubic yards of earth materials per acre or a duration of more than two years requires Special Permit approval by the Zoning Commission

44







16

THE TRUSTED SOURCE FOR COMMERCIAL REAL ESTATE

Re: Two (2) Property Portfolio (herein “Properties”)

This will serve to confirm our agreement concerning certain material, data and Information (herein “Evaluation Material”) which the Owner will make available to us for study in connection with a possible purchase by us of the Properties.

The Owner is prepared to furnish us with the Evaluation Material in connection with discussions and negotiations concerning a possible transaction involving the Properties only on the conditions that we treat such Evaluation Material, discussions and negotiations, confidentially and confirm certain representations to you. Therefore as a prerequisite to The Owner furnishing the Evaluation Material to us, we hereby represent and agree as follows:

1. The Evaluation Material furnished to us will be used by us solely for evaluating a possible transaction exclusively for our own account,as principal in the transaction, and not as a broker or agent for any other person. Therefore, we agree to keep all Evaluation Materialstrictly confidential; provided, however, that any such Evaluation Material may be disclosed to our directors, officers or employees, aswell as our counsel, accounting firms and financial institutions who need to know such information for the purpose of assisting us withour possible purchase of the properties. Such directors, officers, lawyers, financial institutions and accountants shall be informed by usto treat such information with strict confidence.

We agree not to copy or duplicate the Evaluation Material and to return the Evaluation Material to the Owner promptly if requested byowner. We agree that the Owner of the Properties will have no adequate remedy at law if we violate any of the terms of this Agreement.In such event, the Owner will have the right in addition to any other right the Owner may have, to seek injunctive relief to restrain anybreach or threatened breach by us or specific enforcement of such terms.

In addition, we agree that we will not disclose and we will direct our representatives who are given access to the Evaluation Materialin accordance with the terms hereof, not to disclose to any person, the fact that the Evaluation Material in accordance with theterms hereof, not to disclose to any person, the fact that the Evaluation Material has been made available to us, that discussions ornegotiations among us and the Owner are now taking place or will take place, or any of the terms, conditions or other facts with respectto the possible acquisition of the Properties.

2. Although the Owner has endeavored to include in the Evaluation Material information which they believe to be relevant for the purposeof helping us in our evaluation of the Properties for possible purchase, we understand and acknowledge that neither the Owner nor anyof the respective affiliates or agents make any representation or warranty to us as to the accuracy or completeness of the EvaluationMaterial. We agree that the Owner, and their respective affiliates or agents shall not have any liability to us as a result of our use ofthe Evaluation Material and it is understood that we are expected to perform and are responsible for such due diligence investigationsand inspections of the Properties, including investigation of any environmental conditions, as we deem necessary or desirable and aspermitted by agreement with the Owner of the Properties.

3. We also represent that we have dealt with no other broker or agent other than Angel Commercial LLC in any discussions involving theProperties.

4. We agree to indemnify, defend and hold, the Owner and their respective affiliates harmless from and against all claims, loss, damagesexpense or liability (including reasonable attorney’s fees) arising from the breach of any of the terms of this Agreement by us or ourRepresentatives.

Company: ____________________________________

Address: ____________________________________

City, State, Zip: ____________________________________

Date: ____________________________________

CONFIDENTIALITY AGREEMENT

The properties covered by this Confidentiality Agreement are defined below:

OWNER PROPERTY

211 White Street, LLC211 White Street

Danbury, CT

H&S Olson of Waterbury, LLC

1225 Thomaston AvenueWaterbury, CT

Name: __________________________________________

Title: __________________________________________

Phone: __________________________________________

Email: __________________________________________

By: ___________________________________________ Signature

No warranty or representation, express or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors,omissions, change of price, rental or other conditions, withdrawal without notice and to any special listing conditions imposed by our principals.


INVESTMENT OPPORTUNITY WITH A FORTUNE 500 COMPANY … · INVESTMENT OPPORTUNITY WITH A FORTUNE 500...

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