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AT&T Strip Center for Sale | Value-Add Opportunity2141 Whiskey Rd. | Aiken, SC
FOR FURTHER INFORMATION
Joe Boydoffice 843.973.8283mobile 843.906.7751web [email protected]
125-G Wappoo Creek Drive Charleston, SC 29412
phone (843) 722.9925fax (843) 722.9947web twinriverscap.com
LocatorMap .................................................................. 3
AreaTrafficGenerators ................................................4
High Aerial .....................................................................5
MidAerial ......................................................................6
Site Aerial ...................................................................... 7
Site Plan ........................................................................8
Property Information ....................................................9
Tenant & Lease Information ...................................... 10
Financials .................................................................... 11
Income&ExpenseAnalysis ...................................... 12
About Us ...................................................................... 13
Table of Contents
2141 Whiskey Rd.Aiken, SC
AT&T Center
Locator Map
AIKEN,SC
Area Traffic Generators
High Aerial
Recreate PMS
AikenMall
Found from websiteRecreate PMS
SITELogo with Registration Marks
White
PMS Black
PMS 5535
PMS White
PMS Black
PMS 5535
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Black
PMS 5535
White
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PMS 5535
White
PMS 5535
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From PDF
Multi-Family Development
(under construction)
(proposed)
Mid Aerial
Recreate PMS
AikenMall
Found from websiteRecreate PMS SITE
Logo with Registration Marks
White
PMS Black
PMS 5535
PMS White
PMS Black
PMS 5535
White
Black
PMS 5535
White
Black
PMS 5535
White
PMS 5535
Black
From PDF
Multi-Family Development
(under construction)
(proposed)
Site Aerial
Site Plan
AVAILABLE
S.C. Hwy. 19 (Whiskey Rd.)
PropertyandLocationHighlightsAIKEN,SCAiken, SC is the county seat of Aiken County, and is part of the Augusta-Richmond County MSA.Aiken is home to the University of South Carolina at Aiken, which was ranked #1 among top public regional colleges in the South in the 2016 edition of U.S. News & World Report’s guide, “America’s Best Colleges.”
One of Aiken’s major employers is the Savannah River Site. The site was selected by the United States Atomic Energy Commission in 1950 for building a plant to produce fuel for thermonuclear weapons. The facility contains five production reactors, fuel fabrication facilities, a research laboratory, heavy water production facilities, two fuel reprocessing facilities and tritium recovery facilities.
Aiken also has a bustling tourism industry, particularly related to horse racing. The AikenSteeplechase Association, founded in 1930, hosts the Imperial Cup each March and the Holiday Cup in October, both of which are steeplechase races sanctioned by the National Steeplechase Association. These events show attendances of more than 30,000 spectators.
DEMOGRAPHICS 1 Mile 3 Mile 5 MilePopulation 6,251 28,383 50,409Average HHI $66,154 $84,506 $74,348
> HIGH TRAFFIC LOCATION BETWEEN WALMART SUPERCENTER AND AIKEN MALL
> 37,200 VPD
> #1 RETAIL CORRIDOR IN AIKEN MSA WITH 1 MILLION + SF
> 100 FEET OF FRONTAGE ON WHISKEY RD WITH MONUMENT SIGN AND ACCESS TO SIGNALIZED INTERSECTION
> 77% LEASED; VALUE-ADD OPPORTUNITY
> RENTAL INCREASES
> BRICK CONSTRUCTION
Property Information
LEASEINFORMATION
AT&T> 10 year initial term extended 5 years. New expiration date of January 31, 2023.> Two additional 5 year options with 10% increase.
EdwardJones> 5 year initial term. Exercised option early. New term expiration date is June 30, 2019.> 2% annual increases each July.
Tenant & Lease Information
TENANTPROFILES
AT&T• Credit rating: A from S&P• #10 on Fortune 500• #1 telecommunications company in the US, based on revenue• Named “Most Admired Telecommunications Company in the World, 2016” by FORTUNE Magazine (2nd year in a row)• One of the 30 stocks that makes up the Dow Jones Industrial Average• Revenue: 146.8 billion USD (2015)Website: att.comEmployees Worldwide: 281,450NYSE Symbol: T
EdwardJones • Ranked #6 on “100 Best Companies to Work For” List - FORTUNE, March 2015 (16th year on the list)• Ranked “Highest in Investor Satisfaction” - J.D. Power 2015 Full Service Investor Satisfaction Survey• #444 on Fortune 500 List, June 2014Website: edwardjones.comNumber of Locations: more than 11,500 offices in all 50 states and CanadaNumber of Investors: over 7 million
Financials
Offering SummaryPrice: $1,376,843Rentable SF: 5,358 Year Built: 2007CAP Rate: 7.0% on existing / 9.21% pro formaNOI $96,379 (current)
TENANT SQ FT / % OF BUILDING
RENTCOMMENCEMENT
INITIAL LEASETERM
BASE RENTPSF
ANNUALRENT % INCREASES
AT&T
Edward Jones
Suite 130
3,002 SF / 56%
1,140 SF / 21%
1,216 SF / 23%
1/21/2008
7/1/2009
TBD
10 YearsExtended to
1/31/23
5 Years Extended to
6/30/19
TBD
$27.50
$19.48
TBD
$82,555
$22,212
TBD
10% at options
2% annually each July
TBD
CAM / TAXESINSURANCE PSF
$6.50
$5.25
TBD
$18.00(pro forma)
$21,888(pro forma)
Income & Expense Analysis
Pro formaScheduledBaseRentalRevenue(onlyAT&T+EdwardJones) $104,767 $126,655Expense Reimbursement Revenue CAM $9,863 Taxes $11,632 Insurance $4,017 $25,512 $33,900
EffectiveGrossRevenue $130,279 $160,555Operating Expenses (100% pass through) CAM ($7,902) Taxes ($15,051) Insurance ($5,200) Sub Total ($28,153)
Management Fee (4% of EGR - Mgmt. Fee) ($5,211) Reserves ($0.10/sf) ($536) Sub Total ($5,747)
TotalOperatingExpenses ($33,900) ($33,900)
NetOperatingIncome $96,379 $126,655CAP Rate 7.0% 9.20%
SalesPrice $1,376,843 $1,376,843
TRC provides national retailers with a comprehensive solution for growing their business by developing new locations.
TWINRIVERSCAPITAL,LLC
Twin Rivers Capital, LLC is a privately held real estate investment, development and brokerage company, founded in 2002 and headquartered in Charleston, SC. Focusing on the growth regions of the Southeastern US, TRC provides national retailers with a comprehensive solution for adding new locations. TRC has developed more than 1.2 million SF of real estate with values in excess of $180 million. TRC also handles third party brokerage, including tenant and land-lord representation and investment brokerage services in FL, GA, SC, NC, VA, TN and AL.
BuildtoSuit•JVPrograms•PreferredDeveloperforNationalRetailersBrokerage • Fee Development Programs
FAMILY DOLLARAUTOZONE
MCDONALD’SVERIZON
WALMARTDOLLAR TREE
DICK’SAT&T
HOBBY LOBBYSTARBUCKS
DUNKIN’ DONUTSEDWARD JONES
YOURTWINRIVERSCAPITALCONTACT
Joe BoydJoe is responsible for all property and asset management and is also involved in property sales.
With over 25 years of experience in property management, Joe has served as Property Manager for numerous lifestyle centers and super-regional malls, including properties held by Madison Marquette Realty Services, CBL Properties and The Jacobs Group.
Joe received his Bachelor’s Degree from Grove City College and his MBA from Indiana University of Pennsylvania. He received his CSM in 1995, his CMD in 1997 and his SC Realtor’s License in 2008.
OFFICE 843.973.8283MOBILE 843.906.7751EMAIL [email protected] twinriverscap.com
About Us
ClientRoster
