ALLEGIANT NONSTOP - LoopNet€¦ · Allegiant Nonstop is really the all-in-one entertainment solution. Their goal is to give people the ability to unleash themselves and get lost

ALLEGIANT NONSTOP1400 EAST 700 SOUTH CLEARFIELD, UTAH 84015

TABLE OF CONTENTS

EXECUTIVE SUMMARY

4 PROPERTY FEATURES

5 MAPS 6 SITE PLAN8 TENANT PROFILE 10 DEMOGRAPHICS 11

ALLEGIANT NONSTOP2 136 East South Temple, Suite 850 l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com

Mountain West Commercial Real Estate has been retained on an exclusive basis to market the property described as 1400 East 700 South, Clearfield, Utah 84015. Broker has been authorized by seller of the property to prepare and distribute the enclosed information for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and the prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.

The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and /or used for any other purpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma.

Seller reserves the right, for any reason, to withdraw the Property from the Market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.

Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information.

CONFIDENTIALITYAND DISCLOSURE

PREPARED BY

1400 EAST 700 SOUTH, CLEARFIELD, UTAH 84015

ALLEGIANT NONSTOP

3136 East South Temple, Suite 850 l Salt Lake City, UT 84111 l Office 801.456.8800 l www.mtnwest.com

ALLEGIANT NONSTOP

INVESTMENT HIGHLIGHTS

INVESTMENT GRADE TENANT The property is occupied by Allegiant Nonstop (formerly G4 Complete Entertainment) and is publicly traded on the NASDAQ: ALGT.

FUTURE UPSIDE POTENTIAL The subject property comes with two future pads that are already subdivided. These two pads come included in the property with no additional cost and provide a buyer with plenty of future upside.

LONG-TERM ABSOLUTE NET LEASE Allegiant Nonstop signed a new 10-year absolute net lease commencing on 2/1/2018 and requires no landlord responsibilities.

HIGH TRAFFIC COUNTS The subject property is located east of I-15 with traffic counts exceeding 124,000 AADT (2017) and located along 700 South/Hwy 193 with traffic counts of 30,000 AADT (2017).

STRONG DEMOGRAPHICS The population is 76,396 people within a 3-mile radius and projected to grow to 83,117 (8.80%) by 2023. The median household income within the 3-mile radius is $60,993 with an average household size of 3.10 (national average is 2.53).

PROXIMITY TO HILL AIR FORCE BASE The subject property is located on the south side of Hill Air Force Base with 25,709 total personnel, including 5,788 military, 3,361 military dependents and 16,300 civilians. Hill Air Force Base (HAFB) has an annual federal payroll of $1.43 billion and annual expenditures of $760 million. Annually, HAFB creates approximately $1.38 billion in jobs created with a $3.6 billion total annual economic impact. HAFB is home to one of the largest fleets of the new F-35A Lightning II. HAFB is located within 80-miles of the West Desert Training Range, which allows the fighter jets to train within a matter of minutes after taking off. For that reason, HAFB provides repair services for the F-35A Lighting II, F-22 Raptor, F-16 Fighting Falcon, A-10 Thunderbolt II, T-38 Talon, and LGM-30G Minuteman III.

EXECUTIVE SUMMARYPRICING

PURCHASE PRICE $8,640,000

NET OPERATING INCOME $540,000

CAP RATE 6.25%

LEASE INFORMATIONTENANT TRADE NAME Allegiant Nonstop

LEASE GUARANTORAllegiant

Entertainment, Inc.

LEASE SIGNED 2/1/2018

RENT COMMENCEMENT 8/1/2018

LEASE EXPIRATION 7/31/2028

LEASE TYPE Absolute Net

LEASE TERM 10 Years

SECURITY DEPOSIT $275,000

EXTENSION OPTIONS Five, 5-Year Options

PROPERTY TAXES Tenant Responsible

INSURANCE Tenant Responsible

UTILITES Tenant Responsible

MAINTENANCE Tenant Responsible

PROPERTY INFORMATION

PROPERTY ADDRESS1400 E 700 S,

Clearfield, UT 84015

GROSS LEASABLE AREA (SF) 104,638 SF

LAND SIZE (AC) 7.439

YEAR BUILT 2006

YEAR RENOVATED 2018

OPTIONS & ESCALATIONSLEASE TERM START EXPIRATION MONTHLY RENT ANNUAL RENT

INITIAL TERM 2/1/2018 1/31/2024 $45,000 $540,000

INITIAL TERM 2/1/2024 7/31/2028 $50,000 $600,000

OPTION 1 8/1/2028 7/31/2032 Market Rent Market Rent






ALLEGIANT NONSTOP

PROPERTY FEATURES & LAND OVERVIEW

800 S

GOLDSTONEPL

LIBERTY WAY

1500

E

700 S

%&'15

124,000 ADT

30,000 ADT

F:\Projects\SL\Goodman\G4CE_1400e700s\Parcel.mxd - 3 /21/2019 lplant

0941100037.44 AC

0941100020.76 AC

0941100010.75 AC

APN # ADDRESS ACRES SF

094110003 1400 E 700 S 7.439 324,043

094110002 1450 E 700 S 0.763 33,236

094110001 1380 E 700 S 0.75 32,670

PROPERTY FEATURES

Location 1400 East 700 South, Clearfield, Utah

Site Located east of I-15 at Exit 334 in Clearfield, Utah on the south side of 700 South.

Land Area Consists of 8.95 Acres or 389,949 SF of land area.

Building Area The subject property consists of 1 retail building totaling approximately 104,638 SF of gross leasable area.

Parking The subject property provides 482 parking stalls, which equates to 4.60 spaces per 1,000 SF parking ratio.

Frontage & Access The subject property has 731 feet of frontage along 700 South. There is one (1) access point to the subject property along 700 South and two (2) access points along 1500 East.

Traffic Counts: 700 South Hwy 193 -- 30,000 AADT

Year Built: 2005

Zoning: C-2 - Commercial

LAND OVERVIEW


ALLEGIANT NONSTOP

TT MAP

EAST FACING

FUTURE PAD0.76 ACRES


WEST FACING



1,883 STUDENTS

SITE PLANSTATE ROAD 193 (700 SOUTH): 30,000 AADT


NOT INCLUDED


1500

EA

ST



COMPANY ALLEGIANT NONSTOP

TYPE ENTERTAINMENT

NUMBER OF LOCATIONS NATIONWIDE 4

HEADQUARTERS LAS VEGAS, NV

YEAR FOUNDED 1997 OWNER PARENT COMPANY - ALLEGIANT (NASDAQ: ALGT)

TENANT PROFILE

Allegiant Nonstop is really the all-in-one entertainment solution. Their goal is to give people the ability to unleash themselves and get lost in the fun. There are currently four Allegiant Nonstop locations featuring the following attractions:

Lease Guarantor

Allegiant is the parent company and lease guarantor for Allegiant Nonstop (formerly G4CE) and is a publicly traded company on the NASDAQ:ALGT.

Allegiant.®

Las Vegas-based Allegiant (NASDAQ:ALGT) is focused on linking travelers in small cities to world-class leisure destinations. The airline offers industry-low fares on an all-jet fleet while also offering other travel-related products such as hotel rooms and rental cars. All can be purchased only through the company website, Allegiant.com. Beginning with one aircraft and one route in 1999, the company has grown to more than 80 aircraft and 400 routes across the country with base airfares less than half the cost of the average domestic roundtrip ticket. For downloadable press kit, including photos, visit: http://gofly.us/iiFa303wrtF.

• Eat & Drink

• 4CE Fuel Restaurant

• Soda Bar

• Games

• Attractions

• Bowling

• Bumper Cars

• Climbing Wall

• Escape Rooms

• Go-Karts

• Laser Maze

• Laser Tag

• Miniature Golf

• Simulators

• Junior G’s Area

• Virtual Reality

• XD Dark Ride


DEMOGRAPHICS

RoyRiverdale South

OgdenHooper

WashingtonTerrace

FruitHeights

Layton

SunsetClinton

West Point

South Weber

Clearfield

Ogden

Uintah

Kaysville

Syracuse

West Haven

+,89

FRONTRUNNER

%&'84

%&'15

5600 S

RIVERDALE RD

HWY 89

ADAMS

AVE

PKW

Y3500

W

1900

W

4800 S

5500 S

HAR

RISONBLVD

WEB

ERD

R

F:\Projects\SL\Goodman\G4CE_1400e700s\DemoRings.mxd - 3/21/2019 lplant

1 Mile

3 Miles

5 Miles

^̂

POPULATION

AVERAGE HOUSEHOLDS & INCOME

BUFFERS - 1, 3, 5 MILES

1 MILE11,4032018 EST. POPULATION

3 MILES90,6362018 EST. POPULATION

5 MILES203,7542018 EST. POPULATION

1 MILE3,7122018 EST. HOUSEHOLDS

3 MILES27,6552018 EST. HOUSEHOLDS

5 MILES61,9902018 EST. HOUSEHOLDS

1 MILE$54,1802018 EST. INCOME

3 MILES$76,2602018 EST. INCOME

5 MILES$84,5722018 EST. INCOME


ALLEGIANT NONSTOP

136 E. South Temple, Suite 805 l Salt Lake City, UT 84111 l Office 801.456.8800 l Fax 801.578.5500 l www.mtnwest.com

PREPARED BY

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ALLEGIANT NONSTOP - LoopNet€¦ · Allegiant Nonstop is really the all-in-one entertainment solution. Their goal is to give people the ability to unleash themselves and get lost