Walmart 8801 Zell Miller Parkway, $11,000,000 8.50% CAP $935,000 NOI ($3.09 psf) Triple Net (NNN) investment with 3 years remaining on base term. Current rent is low at $3.09 psf. 8.96% cash on cash return, 12% amortized cash on cash return. Building was constructed in 2001 specifically for. Within walking distance, owns a 2.2 million sf building. 24-35 foot clear ceiling heights with columns spaced 31 x 60 feet Located within the 953 acre Gateway Regional Industrial Park
PROPERTY SUMMARY: This contains 303,000 square feet and is located on 18.08 acres within the 953 acre Gateway Regional Industrial Park. The building was constructed in 2001 specifically for. Within walking distance of this building owns a 2.2 million square foot building. The property has railroad access but it is not currently being used. The building is constructed of metal with concrete slabs, it has 24-35 foot clear ceiling heights with columns spaced 31 x 60. It contains 1,000 sf of office space and has a sprinkler system. In 2006 the owner invested $450,000 into HVAC systems, ventilation fans, insulation, additional bathrooms and concrete repairs in exchange for an increased annual rent. Gateway Regional Industrial Park has quickly emerged as one of Georgia's fastest-growing industrial centers. The park is currently occupied by 's 2.2 million square foot distribution center which is located on a 164-acre site, Statesboro's Briggs & Stratton manufacturing facility and Viracon's glass fabrication facility. LEASE SUMMARY: Tenant: Stores East, Inc. Expiration Date: March, 2013 Options: None Current Rent: $935,000 ($3.09 PSF) annually Base Rent Escalations: Flat Lease Type: This is an absolute triple net lease. Tenant pays real estate taxes directly and insures the property at no cost to landlord. Tenant is responsible for all repairs and replacements to the property. LOAN SUMMARY: Original Balance: $7,000,000 Balance As Of 1/2010: $6,270,108 Equity Required: $4,729,892 Term: 10 Years Amortization Period: 28 Years Loan Start Date: 12/1/2003 Interest Rate: 5.9% Annual Debt Service: $511,419 Lender: Vermont Life Assumable: Notes: Cash on Cash Return: 8.96% Principal Reduction Next 12 Months: $145,372 Cash on Cash After Principal Reduction: 12% Yes, 1% fee Buyer must assume the existing loan or pay the cost to defease. TENANT SUMMARY: Stores, Inc. operates retail stores in various formats worldwide. As of January 31, 2009, it operated 891 discount stores, 2,612 super centers, 153 Neighborhood Markets, and 602 Sam s Clubs in the United States; and 28 units in Argentina, 345 in Brazil, 318 in Canada, 197 in Chile, 164 in Costa Rica, 77 in El Salvador, 160 in Guatemala, 50 in Honduras, 371 in Japan, 1,197 in Mexico, 51 in Nicaragua, 56 in Puerto Rico, and 358 in the United Kingdom, as well as 243 stores through a of joint ventures. The company was founded in 1945 and is based in Bentonville, Arkansas. Stores employs over 1,200,000 people. Total revenue for 2009 was $406 billion.
Labeled Aerial 953 acre Gateway Industrial Park Development Authority
Tax Map (Parcel ID # R400168005-062-000007-007 ) Development Authority
Gateway Regional Industrial Park Tenants BRIGGS & STRATTON With 96 years of history building engines, the Statesboro Briggs and Stratton Plant is the third largest employer in the region with 950 employees. The plant's success is a result of the availability of infrastructure support, location, and a readily available skilled workforce. WAL-MART DISTRIBUTION CENTER Gateway Regional Industrial Park is home to the largest distribution center in the United States. In handling all imported products offered in the stores, the close proximity to the Savannah Ports, interstates, and rail were a major determining factor in building here. Other reasons included Statesboro s strong sense of community, pro-business government, excellent schools, and trained workforce. VIRACON Viracon is an international company of the Glass Technologies Division of Apogee Enterprises, Inc. The company produces high-performance glass products, including tempered, laminated, insulating, security, silkscreened, privacy and high-performance coatings. This Statesboro location was chosen over locations in 26 states.
Transportation And Accessibility HIGHWAYS U.S. Highway 25/301 (Georgia Highway 73) provides direct access to Gateway Regional Industrial Park, where the subject property is located. Interstate 16 is six miles south via U.S. Highway 25/301. Other highways serving Statesboro include U.S. Highway 80 and Georgia Highways 24 and 67. A perimeter highway linking U.S. 80, U.S. 301 and Georgia Highways 24 and 67 was completed in 1994. MOTOR FREIGHT CARRIERS The Gateway Regional Industrial Park is served by 30 inter/intrastate carriers and three interstate-only carriers. RAILROADS The subject property is served by Georgia Midland Railroad which connects with Norfolk Southern Railroad at nearby Dover, Georgia. Both CSX Corporation and Norfolk Southern have TOFC (piggy-back) facilities in Savannah. AIR SERVICE Commercial - Savannah International Airport is 53 miles southeast. Served by Delta, Continental, USAir and Airtran, United, Comair, and Independence Air. Public - Statesboro Municipal Airport, 9 miles northeast of the park, with two paved runways including a 5,500' lighted runway. PORTS The international shipping port of Savannah are located 53 miles southeast. Garden City Terminal Garden City Terminal is the fourth-largest container port in the United States and the largest single-terminal operation in North America. Two Class I rail providers serve the Garden City Terminal location, which also offers immediate interstate access to the more than 100 trucking companies that service the Savannah area. And with land available for future development, the facility has strategic plans in place for its expansion. Ocean Terminal A range of shipments including forest and solid wood products, steel, industrial and farm equipment, automobiles, project shipments and heavy-lift cargoes move through this 200.4-acre, 9-berth facility every day. With 5,768 linear feet of deepwater berthing, 1.4 million square feet of covered storage, and 73 acres of open storage, shipments move rapidly and efficiently to their destinations. Ocean Terminal s location is served by two Class I rail providers and offers immediate interstate access with 150-plus trucking options that service the Savannah area. And with room to grow and the demand for diversity increasing every day, the facility has strategic plans in place for its future expansion.
Survey
Location Maps Port of Savannah
Major City Proximity Map
Distance To Highway Intersections 3.06 Miles From Property HWY 80 & Hwy 301 Bypass 6.92 Miles From Property Interstate 16
5-10-15 Mile Demographic Map
5-10-15 Mile Demographic Graphs
5-10-15 Mile Demographic Data 5 Miles: 10 Miles: 15 Miles: Population: 2009 Total Population 25,966 53,783 74,684 Male Population 49.3% 48.5% 48.8% Female Population 50.7% 51.5% 51.2% Median Age 23.6 26.5 28.2 Population Density (per sq. mi.) 330.6 171.2 105.7 Employees 9,967 20,655 25,335 Establishments 775 2,232 2,812 Income: 2009 Median HH Income $28,075 $33,328 $34,519 Per Capita Income $17,734 $19,306 $18,685 Average HH Income $45,969 $48,330 $48,585 Households: 2009 Total Households 9,127 19,826 26,813 Average Household Size 2.44 2.48 2.59 Household Growth 1990-2000 58.2% 34.9% 33.8% Housing: 2009 Owner Occupied Housing Units 38.3% 46.1% 51.3% Renter Occupied Housing Units 52.5% 43.2% 37.0% Vacant Housing Units 9.3% 10.7% 11.7% Race: 2009 White 66.9% 65.2% 67.4% Black 29.6% 32.1% 30.4% American Indian, Eskimo, Aleut 0.1% 0.1% 0.2% Asian 1.9% 1.4% 1.1% Hawaiian or Pacific Islander 0.0% 0.0% 0.0% Other 0.8% 0.6% 0.6% Multirace 0.6% 0.6% 0.4% Contact Us EXP Realty Advisors 118 East 28 th Street Suite #901 New York, NY 10016 Phone: (212) 972-7457 Fax: (212) 686-0078 www.exp1031.com Our Team Robert P. James President Phone: (212) 972-7457 Email: rob@exp1031.com Daniel de Sa Director of Sales Phone: (212) 972-7457 E-mail: dan@exp1031.com