SSISIINNNGGLGLLEEE TTETEENNNAAANNNTT T … · 2018-06-25 · No. 12 on the list of “Happiest...

Bradenton

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For more information on the sale, please contact:

Jeff Solomon(619) [email protected] Licensed in California and IdahoBRE# 00836105Idaho # DB43583 www.mlpre.com

Major League Properties Inc.PO Box 1490Eagle, ID 83616

Offered at $3,150,000

The subject property is a single tenantNNN Staples, located in Boise Idaho’smajor retail market. Surrounding nationalchains include Home Depot, Target, OldNavy, Dave’s Bridal and the Boise TownCenter Mall. Conveniently located off I-184between Milwaukee and Cole. Traffic countsare 22,716 per the ACHD. The immediatetrade area incorporates 3.5 million squarefeet of retail with a low vacancy rate.

PROPERTY DETAILS INVESTMENT OFFERING

Year built: 1998Gross Square Feet: 24,500NOI: $220,500CAP Rate: 7.0%Lot Size: 1.8 acresParking stalls: 87Loading doors: 2 wells plus grade levelLease Type: NNN *Lease Expiration: 4/30/2022Rental Rate: $9.00 per SF on an annual basisNext Rental Increase: $9.50 beginning 5/1/2021Options: $11.86

1st option 5/1/2022-4/20/20272nd option 5/1/2027-4/30-2032

(2nd option based on market rents of either 90% of the current market or 110% of the Base Rent per the terms in the lease.)

Landlord responsibilities:Repairs as to Roof, structure, parking lot & HVAC per the terms of the lease. *Landlord has spent less than $1000 in total repairs over the last five years.

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

PROPERTY PHOTOS INVESTMENT OFFERING


Staples, a national chain of office supply stores was taken

private by Sycamore Partners in 2017. After closing

non-performing stores, they have made a commitment to the

Boise location with a new four-year extension to the existing

lease. They believe in the continued growth of the Boise area as

it was recently named the fastest growing City in the U.S. by

Forbes Magazine (March 2018). In addition, the U.S. Census

Bureau announced that Idaho is the fastest growing state in the

nation.

TENANT DETAILS INVESTMENT OFFERING


PARCEL AERIAL INVESTMENT OFFERING


RETAIL AERIAL INVESTMENT OFFERING

SUBJECT

Franklin Towne Plaza


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NARCOOSSEE ROAD(SR 15)

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47 SPACES(INC. 2 HC)

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GENERAL NOTES -

1. TOTAL AREA = 1.10±AC

2. PARKING PROVIDED = 47 SPACES

(INC. 2 HANDICAPPED ACCESSIBLE)

DEMOGRAPHICS INVESTMENT OFFERING


1 Mile 3 Miles 5 Miles

Total Households 3,844 37,063 115,090

Total Population 9,071 90,436 283,226

Population White 8,050 75,745 217,438

Population Black 208 2,410 11,879

Population Hispanic 4,433 44,797 148,057

Population Asian 203 954 4,005

Population Pacific Islander 0 70 257

Population American Indian12 435 2,467

Population Other 485 9,307 41,302

Persons Per Household 2.4 2.4 2.5

Average Household Income $64,845 $75,497 $66,589

Average House Value $224,040 $209,189 $178,004

Average Age 41.2 38.8 36.4

Average Age Male 39.6 36.9 34.6

Average Age Female 41.2 40.3 38

Demographics Data


Boise is the capital and most populous city of Idaho and is the county seat of Ada County. The Boise-Nampa metropolitan area, also known as the Treasure Valley, includes five counties with a combined population of 664,422, the most populous metropolitan area in Idaho. It contains the state's three largest cities; Boise, Nampa, and Meridian. Boise is the third most populous metropolitan area and city in the United States' Pacific Northwest region, behind Seattle and Portland. Boise is also the center of the fourth largest urban area in the Pacific Northwest after Seattle, Portland, and Spokane.

Today, the largest industry in Idaho is the science and technology sector. It accounts for over 25% of the state's total revenue and over 70% of the state's exports. Idaho's industrial economy is growing, with high-tech products leading the way. Though the economy remains diversified with its government and business sectors continuing to be strong influences. The city is home to Boise State University as well as a wide range of technical schools. University of Idaho and Idaho State University each maintain a satellite campus in Boise. Boise is also a regional hub for jazz and theater, with the Gene Harris Jazz Festival hosted by the city annually. The city is also home to a number of museums, including the Boise Art Museum, Idaho Historical Museum, the Basque Museum and Cultural Center and Idaho Black History Museum. Downtown Boise features a vibrant section known as the Basque Block representative of the second largest ethnic Basque community in the U.S.

A new forecasting model developed by an Idaho Department of Labor regional economist with a math background suggests Idaho’s population will grow at three times the national rate between now and 2025 – and nearly all the new residents will be retirees moving to the state. The forecasting model predicts that Idaho’s population will grow 15.3 percent from 2015 to 2025, reaching 1.9 million. That’s an annual growth rate of 1.4 percent, nearly three times as high as the national growth rate.

America's Fastest-Growing Cities 2018 (Boise #1) Forbes | March 2018

#1 Top Performing Economy (Idaho) Bloomberg | August 2017

#2 Best in the U.S. "Destinations You Need To See in 2018" Lonely Planet | March 2018

North America's Coolest Downtowns (Boise #4) Expedia | February 2018

Best Cities for Quality of Life (Boise #5) NerdWallet | October 2017

BOISE PROFILE INVESTMENT OFFERING


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: 407.893.6851

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Welcome to the singles savvy, family friendly, and culturally blossoming city of Boise. Healthy lifestyles, a healthy economy and low cost of living are just a few of the reasons Boise has earned its nickname, the Treasure Valley. We’re an active and outdoorsy city (No. 8 on the list of “Top 101 counties in the nation with the highest percentage of residents who exercise”), and our No. 5 ranking on the list of “Top 101 counties with the highest percentage of residents that had a sunburn in the past 12 months” is a testament to our love for all things alfresco (really, though, let’s amp up the sunblock, Boise).Boiseans are also notoriously healthy inside AND out. Just ask our therapist population of 565 in the Boise area. Idaho comes in at No. 12 on the list of “Happiest states in America” (which might have something to do with our No. 3 ranking of “Top community, environment, and recreational activities”), and No. 9 on the list of “Happiest work environments.”So, what exactly does the 12th happiest state in the nation look like when it comes to culture and demographics? While Boise has some shortcomings in ethnic and racial diversity, the city is growing in diversity each year, home to a significant demographic of refugees, and also proudly one of the largest Basque communities in the world.

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PPPooopppuuulllaaatttiiiooonnn::: 222111666,,,222888222 (((aaannnddd cccooouuunnntttiiinnnggg)))Nearest Big City: You’re looking at it! Boise is both the capital of Idaho AND the biggest city in the region. Boise is home to more than 26 percent of the state’s population. Boise and surrounding areas (referred to as the Treasure Valley) carry 39 percent of the state’s population (clocking in with more than 426,236 people —and a more diverse demographic than the remainder of the state).That being said, the nearest metropolitan city, Salt Lake, is nearly 300 miles away —followed closely by Portland (345 miles west of Boise) and Seattle (406 miles northwest). You may have to drive through endless miles of high desert sagebrush to get there … but Boiseans are more than used to the five hour trek.And if you’re among the many Americans who think Idaho is all potatoes and no eggheads, think again. According to the U.S. Census Bureau, we hold our own with a 94 percent high school graduation percentage—36 percent of which go on to earn a bachelor’s degree or higher (8 percent more than the national average. Brownie points!)Boise is also family oriented with an average of 2.6 members per household (62 percent of which are pet owning households). However, less than half of the population is married (only 46 percent), and 33 percent have never been married (this may or may not contribute to thegreat Boise downtown nightlife!).But let’s talk demographics. Idaho isn’t quite the melting pot you might hope it would be at 90 percent Caucasian, 7 percent Hispanic, and only 1.5 percent African American. That being said, Boise is making strides to becoming more ethnically and culturally diverse, in fact, Boise hosts several ethnic refugee resettlement programs (more on that in a bit) and is home to one of the largest Basque communities outside of Spain.

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964 Lake B

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in Lane, S

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Orlando, F

l 32814 C

A 28856

P: 407.893.6894 | F

: 407.893.6851

Web S

ite: m

eicivil.com

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BY NICOLE [email protected] 01, 2018 11:27 AM

By all metrics, Boise is booming, according to a new Forbes list of the fastest-growing cities in the country.Idaho’s capital swept the competition, exceeding 2017 expansion projections “by nearly ever metric that matters,” the business magazine wrote. And according to Moody’s Analytics, the firm that provides data for Forbes’ annual list, Boise’s growth spurt is likely to continue. Boise ranked 11th on last year’s list.“(Boise has) the pieces in place. It’s got the location, it’s got low cost, a healthy tech presence,” Moody’s senior economist Adam Kamins told Forbes.The news follows the U.S. Census Bureau’s announcement that Idaho is the fastest-growing state in the nation (with Ada and Canyon counties accounting for 50 percent of that growth). Additionally, Boise was named the No. 2 spot for young professionals by Forbes in 2017 and earned the No. 11 title on last year’s fastest-growing cities roundup.

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Here’s what bumped the Boise metropolitan area to the top this year:• Its population grew 3.08 percent in 2017 — the highest percentage growth for any major metro area, Forbes said.• Employment in the Treasure Valley grew 3.58 percent, second only to North Port, Florida, at 3.99 percent growth.• Home prices, which Forbes said indicate wealth, increased 11.58 percent. That was the fourth-highest in the U.S.Forbes also took into account wages and overall economic growth in 2017. Boise didn’t quite top those categories but still came in above national averages. Local wages grew by 5.7 percent (sixth in the nation), and Boise’s gross metropolitan product grew by nearly 4 percent (eighth in the nation).Locals who dig their heels in against the explosive growth may take some comfort in Forbes’ 2018 projections. The rate of growth should taper off, experts say. Most notably, Boise’s climbing home prices are projected to slow considerably (from fourth-highest in the country to a projected spot of 23rd).In 2018, the city’s population will grow an estimated 2.34 percent, Forbes predicts, and jobs will grow about 2.61 percent. Local economic growth is expected to hold steady at eighth in the nation, or 5.12 percent. Wages should climb 5.7 percent, the fifth-fastest projected increase in the nation.What’s driving all this growth?Moody’s analyst Kamins said the tech exodus from pricey cities like San Francisco and Seattle is a likely cause, along with the movement of senior citizens to Idaho.Boise was followed on Forbes’ list by the Seattle area at No. 2 and Dallas at No. 3. The only other Northwest metro area in the top 10 is Tacoma, Washington, at No. 10.

SSISIINNNGGLGLLEEE TTETEENNNAAANNNTT T … · 2018-06-25 · No. 12 on the list of “Happiest...

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