BUDGET RENT-A-CAR CALL CENTER Wichita Falls, Texas

Transcription

1 BUDGET RENT-A-CAR CALL CENTER Wichita Falls, Texas Presented by: Darrell Hurmis Direct (972) Mike McAuley Direct (972) Providence Towers West 5001 Spring Valley Road Dallas, Texas (972) http: //

2 INDEX Budget Rent-A-Car Call Center, Wichita Falls, Texas I. PROPERTY OVERVIEW Executive Summary Additional Photographs II. LEASE/TENANT INFORMATION Lease Details About the Tenant and/or Guarantor Budget Call Centers in the News III. PROPERTY LOCATION Map (Macro)/Location Analysis Map ( Micro) Location Analysis Continued IV. DEMOGRAPHICAL & STATISTICAL INFORMATION Demographic Summary Demographic Profile Business Detail Profile VII. INFORMATION ABOUT BROKERAGE SERVICES Since 1914 HENRY S. MILLER COMMERCIAL

3 PROPERTY OVERVIEW EXECUTIVE SUMMARY BUDGET RENT A CAR CALL CENTER Location: 2236 Airport Drive, Wichita Falls, Texas. Located just off Interstate 44 near the confluence of Northwest Freeway 287 and Spur 325, just across the freeway from a Super Wal-Mart. Total Building Area: 36,879 SF Land Area: Acres Price: $5,000,000 Price per SF: $ Property Overview: Formerly a Food Lion Supermarket, this 36,879 square foot building was renovated for use as a reservation call center for Budget Rent-a-Car. The building features very attractive, modern interior improvements on a site that provides 369 Parking spaces (10 spaces per 1,000 square feet). Budget has invested a significant amount of money into the facility. This call center is one of six that serve the entire U.S. and Canada. These call centers are not designated to a specific region, but instead are a interwoven network which relay the customer s calls to the next available representative. There is also a warranty on the roof for at least another 15 years. Offered By: Henry S. Miller Commercial

4 ADDITIONAL PHOTOGRAPHS BUDGET RENT-A-CAR CALL CENTER, Wichita Falls, TX Since 1914 HENRY S. MILLER COMMERCIAL

5 RENT/TENANT INFORMATION LEASE DETAILS BASIC LEASE INFORMATION: Commencement Date: March 1, 2000 Base Rent: $478,890 Term: Options: 10 Years 2 5 year options at market (Market Rent found through process outlined in detail by the lease) RENT SCHEDULE: Dates Years Rate March 1, 2000 February 28, $478,890 March 1, 2003 February 29, $488,280 March 1, 2004 February 28, $497,670 March 1, 2005 February $507,060 NET LEASE: The tenant has signed to a net lease which makes them responsible or all expenses incurred relative to the management, operation, maintenance or repair to the property except as outlined below. LANDLORD RESPONSIBILITIES: According to the lease the landlord shall, at its own cost and expense, keep and maintain, in good condition and repair, the roof, roof membrane, foundation, and structural members of the exterior walls of the building. Since 1914 HENRY S. MILLER COMMERCIAL

6 ABOUT THE TENENAT AND/OR GUARANTOR Budget Rent A Car System, Inc. is one of the world's best-known generaluse car rental companies with over 1,800 locations in the U.S., Canada, Latin America, Caribbean, Australia and New Zealand. Budget Rent A Car is owned by Cendant Corporation (NYSE: CD), a diversified global provider of business and consumer services primarily within the real estate and travel sectors. As part of the Cendant Car Rental Group, Budget's 1,800 airport, downtown and suburban car rental offices and its over 3,000 U.S. truck rental dealers, serve an even mix of business and leisure travelers and meet the truck rental needs of self-movers and local and nationwide businesses. Budget Rent A Car was founded in 1958 as a car rental company for the "budget-minded" renter. The year 2003 marks their 45th anniversary. Today, Budget is a leading car and truck rental company that continues to focus on appealing to value-minded renters by offering quality vehicles and a rewarding rental experience Cendant Corporation is a global provider of complementary consumer and business services, focusing primarily on travel and real estate services. The Company, through its subsidiaries, operates in five business segments. The real estate services segment franchises Cendant's real estate brands, operates real estate brokerages and provides homebuyers with mortgages, title and closing services and facilitates employee relocations. The hospitality segment markets and sells vacation ownership interests. The travel distribution segment provides global distribution and computer reservation services, offers travel agency services and provides travel marketing information to airline clients. The vehicle services segment operates and franchises the Avis and Budget car rental brands and provides fleet management and fuel card services. The financial services segment provides financial institution enhancement products and insurance-based and loyalty solutions. Since 1914 HENRY S. MILLER COMMERCIAL

7 BUDGET CALL CENTERS IN THE NEWS Since 1914 HENRY S. MILLER COMMERCIAL

8 LOCATION LOCATION ANALYSIS WICHITA FALLS, TEXAS: Located in the south-central United States and in north-central Texas, Wichita Falls is linked to major southwestern, western, and midwestern cities by interstate 44, US Highways 82,281,277, and 287. Wichita falls is approximately two hours northwest of Dallas/Fort Worth, 15 miles from the border of Oklahoma and Texas, and two hours south of Oklahoma City. The city of Wichita Falls has an estimated population of 104,000 which represents a 4.0% increase since Since the early 1990 s the civilian work force in the Wichita Falls MSA has grown by 11% to 66,500. New businesses in manufacturing and service industries account for 75% of the growth in local income. Wichita has successfully diversified its economy to include manufacturing, governmental, medical services, and education in addition to the more typical North Texas industries of agriculture, and oil and gas production. HENRY S. MILLER COMMERCIAL Since 1914

9 LOCATION ANALYSIS CONTINUED Wichita Falls is the hub for a 670 mile radius trade area, populated by an estimated 376,799 people. Of that population, 192,900 are currently in the work force and look to Wichita Falls for their employment, shopping, entertainment, education, cultural, and healthcare needs. Nestled between Dallas/Fort Worth and Oklahoma City, Wichitains have access to all the excitement the big cities have to offer. The Wichita area is also home to many large manufacturing companies such as Levi Strauss, Howmet Casting and Refurbishment, Vetrotex CertainTeed, PPG Industries, Cryovac, Stanley Tools, and the A.C. Rochester Divison of General Motors. These international firms keep Wichita Falls on the cutting edge of the global economy. For more information on Wichita Falls refer to Since 1914 HENRY S. MILLER COMMERCIAL

10

11

12

13

14

15

16 INFORMATION ABOUT BROKERAGE SERVICES Henry S. Miller Commercial Company ( Broker ) represents the Owner regarding the sale of Budget Call Center under a written agreement. The Broker owes fiduciary responsibility only to the Owner. However, the Broker will treat all prospective Buyers honestly. Should you require buyer representation for a property other than Budget Rent a Car, please consider Henry S. Miller for the assignment. A brief resume follows for your review. In addition to representing owners, Mr. McAuley and Mr. Hurmis have represented buyers in their search for investment opportunities and has provided consulting services across the nation, as required by clients to evaluate potential opportunities. If you chose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker s obligations and your obligations. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding. We look forward to the opportunity to assist you as situations arise! Since 1914 HENRY S. MILLER COMMERCIAL