antill oons EXCLUSIVE LISTING | Montgomery, AL · 2017-06-02 · Chantilly Commons Montgomery, AL Offering Memorandum Base Rent Schedule Unit Tenant SF Annual Rent Monthly Rent Lease

Chantilly Commons | Montgomery, ALOffering Memorandum

PATRICK NUTT MANAGING PARTNER

(954) 302-7365 [email protected]

SHEREE STROME, CCIMASSOCIATE DIRECTOR


KEELEE PETERSONASSOCIATE DIRECTOR


Actual Site

EXCLUSIVE LISTINGOffering Memorandum

1

C A L K A I N .C O MC A L K A I N .C O M

Chantilly Commons (9 Tenants) | Montgomery, AL


10650 Chantilly Pkwy | Montgomery, AL 36117

Asking Price $3,991,197 | Cap Rate 6.50%

Net Operating Income (NOI) $259,427.80

Base Rent/Month $23,688.08

Rent/SF $18.63

Combined Rentable Square Feet 13,924+/- SF

Land Area 1.35+/- Acres

Tenant Names

Montgomery Dental Arts, Young America Insurance, Cuts By Us,

VS Nails, Beauty City, Hungry Howie’s, Asian Cafe, Bruster’s Ice Cream,

Montgomery Equities, LLC

Ownership Type Fee Simple

Lease Type NN

Landlord Responsibilities Roof, Structure & Parking Lot

Investment Highlights • Brand new construction

• Outparcel to Walmart Supercenter

• Across from The Home Depot, VA Hospital and Chantilly 13 movie theater

• 100% leased

2

Financial Summary


Base Rent Schedule

Unit Tenant SF AnnualRent

Monthly Rent

Lease Term Increases Options

101 Montgomery Dental Arts 2,184 $46,956 $3,913.00 7 Yrs 8% In Options Three (3), Seven (7) Yr

102 Young America Insurance 1,404 $28,000 $2,333.33 5 Yrs 5% In Options Two (2), Five (5) Yr

103 Cuts By Us 1,350 $26,325 $2,193.75 5 Yrs 10% Every 5 Yrs One (1), Five (5) Yr

104 VS Nails 1,350 $30,375 $2,531.25 10 Yrs 10% Every 5 Yrs Two (2), Five (5) Yr

105-106 Beauty City 3,016 $60,320 $5,026.00 10 Yrs 10% Every 10 Yrs Two (2), Five (5) Yr

107 Hungry Howie’s 1,500 $28,125 $2,343.75 5 Yrs 10% In Options Three (3), Five (5) Yr

108 Asian Cafe 1,560 $30,420 $2,535.00 10 Yrs Every 5 Yrs Two (2), Five (5) Yr

109 Bruster’s Ice Cream 850 $19,548 $1,629.00 10 Yrs 10% Every 5 Yrs Two (2), Five (5) Yr

110 Montgomery Equities, LLC 710 $14,196 $1,183.00 3 Yrs 6% In options One (1), Three (3) Yr

Total 13,924 $284,256 $23,688.08

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Rent Schedule


Lease Abstract

Tenant Montgomery Dental

Young America Ins Cuts By Us VS Nails Beauty

Supply Hungry Howie’s Asian Cafe Bruster’s Ice Cream

Montgomery Equities, LLC

Unit Number 101 102 103 104 105-106 107 108 109 110

Square Footage 2,184 1,404 1,350 1,350 3,016 1,500 1,560 850 710

Lease Execution 3/10/2016 10/1/2015 10/27/2014 6/5/2016 3/13/2017 8/31/2015 3/24/2016 TBD TBD

Delivery 4/10/2017 4/10/2017 4/10/2018 4/10/2019 TBD 4/10/2022 4/10/2022 TBD TBD

Store Opening 5/1/2017Est

5/15/2017Est

5/15/2017Est

5/1/2017Est

7/15/2017Est

6/15/2017Est

6/15/2017Est

9/15/2017 Est

9/15/2017

Rent Start 5/1/2017 TBD TBD TBD TBD TBD TBD TBD TBD

Lease Term 7 Yrs 5 Yrs 5 Yrs 10 Yrs 10 Yrs 5 Yrs 10 Yrs 10 Yrs 3Yrs

Options (3), Five Yr (2), Five Yr (1), Five Yr (2), Five Yr (2), Five Yr (3), Five Yr (2), Five Yr (2), Five Yr (1), Three Yr

CAM Annual $4,368 $2,808 $2,352 $2,352 $3,000 N/A $2,880 $1,800 $1,200

Base Rent $3,913.00 $2,333.33 $2,193.75 $2,531.25 $5,026.00 $2,343.75 $2,535.00 $1,629.00 $1,183.00

Gross NOI $284,256.96

Management Fee 3% $8,527.71

Vacant 5% $14,212.85

Reserves $0.15/SF $2,088.60

NOI $259,427.80

4

Lease Summary


About Hungry Howie’sHungry Howie’s Pizza & Subs, Inc., also known as Hungry Howie’s Pizza, is a franchise and the 11th largest pizza chain in the United States, with over 550 locations. Hungry Howie’s products include pizza, calzone-style subs, chicken wings and tenders, bread, salads, and brownies.

www.hungryhowies.com

About Bruster’s Ice CreamBruster’s Ice Cream is a chain of ice cream parlors whose ice cream and frozen yogurt is made from a milk-based mix at each individual store. All of the ice cream is made fresh in the stores in order to avoid ice crystal formation. The recipe book that Bruster’s uses consists of over 170 recipes with many seasonal favorites.Bruster’s also makes a variety of handmade ice cream cakes as well as homemade waffle cones. It recently started a Facebook site showing local deals and locations.

www.brusters.com

About Montgomery DentalMontgomery Dental Arts will provide high quality comprehensive dental care for the entire family in a state of the art, compassionate, patient centered environment.

www.montgomerydentalarts.com

About Young America InsuranceGeneral auto insurance from an Affordable Auto Insurance Company that provides fast, dependable service and competitive rates for general auto insurance with 526 agencies throughout Texas, California, New Mexico, Colorado Georgia, Nevada, Indiana, Missouri, Alabama, and Arizona.

www.youngamericaauto.com

About Cuts By UsCuts By Us is a hair salon with multiple locations in Florida, Alabama, & Georgia.

www.facebook.com/CutsbyUs/

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Tenant Overview


Site Photos

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Site PhotosSurrounding Retail

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Distance To:Columbus, GA 70 miles

Birmingham, AL 105 miles

Atlanta, GA 150 miles

Mobile, AL 180 miles

Atlanta, GA

Columbus, GAMontgomery, AL

Birmingham, AL

Mobile, AL

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65

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Location Overview

Subject Site

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10650 Chantilly Pkwy | Montgomery, AL


East Chase Market Center

The Shoppes at Eastchase

85

Chick-fil-A

85

Chantilly Pkwy 9,840 VPD

45,850 VPD

38,150 VPD

Chantilly 13 Cineplex with 3D

Screens

Christian Brothers Automotive Montgomery

Veterans Affairs Clinic

Subject Site

9

10650 Chantilly Pkwy | Montgomery, AL

Chantilly 13 Cineplex with

3D Screens

Den Fain ParkChantilly Pkwy 9,840 VPD

Christian Brothers Automotive Montgomery

Veterans Affairs Clinic


Subject Site

10

Chantilly Pkwy 9,840 VPD


Subject Site

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Site Plan


Radius 1 Mile 3 Miles 5 MilesPopulation2016 Population 1,822 28,687 64,356

2021 Population 1,884 29,433 65,832

2010-2016 Annual Rate 1.37% 1.02% 1.02%

2016-2021 Annual Rate 0.67% 0.51% 0.45%

2016 Male Population 47.6% 50.1% 48.5%

2016 Female Population 52.4% 49.9% 51.5%

2016 Median Age 43.9 40.0 36.4

Households2016 Total Households 792 10,789 26,267

2021 Total Households 820 11,070 26,808

2010-2016 Annual Rate 1.45% 1.05% 0.97%

2016-2021 Annual Rate 0.70% 0.52% 0.41%

2016 Average Household Size 2.30 2.45 2.36

Median Household Income2016 Median Household Income $92,583 $93,281 $67,099

2021 Median Household Income $103,849 $102,740 $74,893

2016-2021 Annual Rate 2.32% 1.95% 2.22%

Average Household Income2016 Average Household Income $140,456 $117,389 $89,083

2021 Average Household Income $154,098 $127,637 $97,354

2016-2021 Annual Rate 1.87% 1.69% 1.79%

Per Capita Income2016 Per Capita Income $58,700 $45,407 $37,030

2021 Per Capita Income $64,460 $49,195 $40,290

2016-2021 Annual Rate 1.89% 1.62% 1.70%

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Demographics


Montgomery, ALMontgomery is the capital of the US state of Alabama and is the county seat of Montgomery County. Named for Richard Montgomery, it is located on the Alabama River, in the Gulf Coastal Plain. As of the 2014 Census, Montgomery has a population of 200,481. It is the second-largest city in Alabama, after Birmingham, the 115th largest in the United States.

In addition to housing many Alabama government agencies, Montgomery has a large military presence due to Maxwell Air Force Base; public universities Alabama State University, Troy University (Montgomery campus), and Auburn University at Montgomery; private colleges/universities Faulkner University and Huntingdon College; high-tech manufacturing, including Hyundai Motor Manufacturing Alabama; and cultural attractions such as the Alabama Shakespeare Festival and Montgomery Museum of Fine Arts.

Montgomery has won several national awards: Best Historic City by USA Today, All-America City in 2014 by the National Civic League, “Top City For Job Growth” in 2014 by ziprecruiter.com, and the ‘happiest city in Alabama.’ Montgomery has also been recognized nationally for its downtown revitalization and new urbanism projects. It was one of the first cities in the nation to implement Smart Code Zoning.

Alabama State Capitol

Hyundai Motor Manufacturing AlabamaAuburn University at Montgomery

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Market Overview


PATRICK NUTT MANAGING PARTNER


SHEREE STROME, CCIMASSOCIATE DIRECTOR


KEELEE PETERSONASSOCIATE DIRECTOR


Who Are We? We are a national commercial real estate firm that provides consulting and brokerage services to both private and institutional clientele with an expertise on triple net lease investments. We pride ourselves on being a world class leader by providing our clients a full array of commercial real estate investment brokerage and asset management solutions, including advisory, research, estate planning and wealth management.

We have built solid relationships throughout our decades of experience and innovation, implementing long-term allocation within the context of each client’s particular risk tolerance and identifying how best to acquire and dispose of income producing properties for each entities’ specific set of investment criterion. At Calkain, our foresight and past performance are leading the net lease investment industry.

Our HistoryLike most success stories, Calkain was formulated from humble beginnings. Jonathan W. Hipp, President and CEO, took the initiative to build upon his decades of experience and performance and left a large international brokerage firm to become an independent and innovative leader within the triple net lease investment community. Armed with a sole employee and a single office, the firm has grown exponentially since its infancy in 2005.

With the growth in staff, seasoned professionals have been attracted to Calkain’s model of innovation, entrepreneurship and the fostering of long-lasting and meaningful relationships. Industry experts have joined Calkain in the hopes of implementing the skills they have honed in complementary aspects of real estate investment.

Through a tremendous endeavor, tireless hours have been committed to continually prove that Calkain is America’s Net Lease Company®. Its countless accolades received from the world’s leading business publications, including Forbes™, Fortune™ and the New York Times™ have confirmed that Calkain is a true leader in triple net lease investing services.

Client Testimonial

“USRA has worked with Calkain on numerous occasions. They have always been meticulous in their work ethic, providing superior service and extremely prompt attention to our needs. I highly recommend them.

- Jack Genende, Partner | U.S. Realty Advisors, LLC. (USRA)

$11.5 Billion in Closed Transactions

$350 Million

in Active Listings

14

C A L K A I N .C O MC A L K A I N .C O M

About Calkain

DISCLAIMER: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regula-tions, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

Corporate Headquarters Washington, DC12930 Worldgate Drive | Suite 150 Herndon, VA 20170 T: (703) 787-4714 • F: (703) 787-4783

Tampa400 N. Tampa Street | Suite 2660 Tampa, FL 33602 T: (813) 282-6000 • F: (813) 282-6098

South Florida200 SW 1st Avenue | Suite 880 Fort Lauderdale, FL 33301 T: (954) 302-7365

Atlanta111 Village Parkway, Building 2 | Suite 202 Marietta, GA 30067 T: (404) 900-5629

Boston101 Federal Street | Suite 1900 Boston, MA 02110 T: (617) 261-8584

CALKAIN.COM

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antill oons EXCLUSIVE LISTING | Montgomery, AL · 2017-06-02 · Chantilly Commons Montgomery, AL Offering Memorandum Base Rent Schedule Unit Tenant SF Annual Rent Monthly Rent Lease