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FOR INFORMATION
© 2014 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
AutoZone FOR SALE
NN LEASED INVESTMENT
CORPORATE GUARANTEE
9.9 YEARS REMAINING ON 15 YEAR TERM
5 - Five Year Options
2615 South Chestnut Avenue Fresno, CA 93725
Bob Bower
Senior Vice President
Investment Properties Group
Lic. 00605033
408.453.7435
CBRE, Inc.
225 W. Santa Clara St.
10th Floor
San Jose, CA 95113
In Collaboration with
CBRE, Inc.
Sacramento Office
AUTOZONE HISTORY
FOR INFORMATION
1520 Country Club Drive Madera, CA 93638
Pitt saw a need for a retail automotive parts store to help people with the upkeep of their vehicles so he created Auto Shack. He believed that the characteristics found in supermarkets - clean, well-organized store, accessible products and great customer service could be applied to the automotive parts business. In 1979, his vision became a reality. On July 4, 1979, Auto Shack opened its first store in Forrest City, Arkansas. Doc Crain was the first Auto Shack store manager and sales that day totaled about $300. In 1986, Auto Shack was spun off as a freestanding company of which Pitt served as Chairman and CEO. Today, Auto Shack is AutoZone - a Fortune 500 company and the leading auto parts retailer in the United States with more than $8.1 billion in annual sales. AutoZone continues to fuel growth by exploring new businesses and entering new markets. In 1996, AutoZone launched a commercial program offering credit and delivery to professional technicians. Later, with the purchase of ALLDATA, AutoZone acquired the nations leading provider of electronic automotive diagnostic and repair software. In 1998, AutoZone expanded its presence outside the U.S. borders to Mexico, opening their first AutoZone de Mexico store in December 1998. AutoZone has come a long way. Today, AutoZone serves customers in 48 states, Mexico and Puerto Rico and employs more than 65,000 employees, referred to as AutoZone's. One of the constant, core foundations to their success has been their strong culture of customer satisfaction. “All 5,200+ AutoZone stores are company-owned; we don't offer franchises.”
Bob Bower
Senior Vice President
Investment Properties Group
Lic. 00605033
408.453.7435
AutoZone's history started with the vision of one man: J.R. "Pitt" Hyde III. After receiving his bachelor's degree in economics from the University of North Carolina, he joined Malone & Hyde, Inc., a wholesale food company founded by his grandfather. Pitt initiated and developed Malone & Hyde's specialty retailing division, beginning with drug stores and expanding to include sporting goods stores and supermarkets.
AutoZone
© 2014 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
2615 South Chestnut Avenue Fresno, CA 93725
CBRE, Inc.
225 W. Santa Clara St.
10th Floor
San Jose, CA 95113
In Collaboration with
CBRE, Inc.
Sacramento Office
• Built 2008
• APN: 481-140-23
• Corporate Guarantee -
AutoZone, Inc.
• Credit Rating S&P BBB
• Excellent Condition
• +/- 7,000 SF Building
• +/- 41,100 SF Land
• 15 Year Initial Term
• 9.9 - Nine Years Nine Months
Remaining
• 5-5 Year Options w/ 10%
Increases each Option Period
• Independent Self Sustained Property
FOR INFORMATION
AutoZone
© 2014 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
PROPERTY HIGHLIGHTS
2615 South Chestnut Avenue Fresno, CA 93725
Bob Bower
Senior Vice President
Investment Properties Group
Lic. 00605033
408.453.7435
CBRE, Inc.
225 W. Santa Clara St.
10th Floor
San Jose, CA 95113
In Collaboration with
CBRE, Inc.
Sacramento Office
NEW CONSTRUCTION
22,094 VPD
13
,12
0 V
PD
FOR INFORMATION
AutoZone
© 2014 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
AUTOZONE PICTURES
2615 South Chestnut Avenue Fresno, CA 93725
Bob Bower
Senior Vice President
Investment Properties Group
Lic. 00605033
408.453.7435
CBRE, Inc.
225 W. Santa Clara St.
10th Floor
San Jose, CA 95113
In Collaboration with
CBRE, Inc.
Sacramento Office
AutoZone is the nation's leading retailer and a leading distributor of automotive replacement parts and accessories with more than 5,200 stores in the US, Puerto Rico, and Mexico. Each store carries an extensive line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured hard parts, maintenance items and accessories. Since opening its first store in Forrest City, Ark. on July 4, 1979, the company has joined the New York Stock Exchange (NYSE: AZO) and earned a spot in the Fortune 500.
Morningstar: “AutoZone has been the most efficient operator among the specialized auto parts retailers. The firm has benefited from superior scale and "sticky" customers who rely on the retailer when purchasing maintenance and failure auto parts. Due to the necessity of auto parts transactions, demand has been consistent throughout numerous economic cycles, allowing AutoZone to generate steady ROICs well above 20% for the majority of the last decade. We believe AutoZone's scale and valuable private-label brands, combined with the firm's industry-leading position in the attractive DIY auto parts retail market, create a narrow economic moat that should allow the company to generate excess economic returns over the foreseeable future.”
FOR INFORMATION
AutoZone
© 2014 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
AUTOZONE CORPORATE INFORMATION
2615 South Chestnut Avenue Fresno, CA 93725
AutoZone 2nd Quarter Same Store Sales Increase 4.3%; EPS Increases 17.8% to $5.63 MEMPHIS, Tenn., March 4, 2014 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE:AZO) today reported net sales of $2.0 billion for its second quarter (12 weeks) ended February 15, 2014, an increase of 7.3% from the second quarter of fiscal 2013 (12 weeks). Domestic same store sales, or sales for stores open at least one year, increased 4.3% for the quarter. During the quarter ended February 15, 2014, AutoZone opened 28 new stores in the U.S., and four new stores in Mexico. As of February 15, 2014, the Company had 4,871 stores in 49 states, the District of Columbia and Puerto Rico in the U.S., 367 stores in Mexico, and four stores in Brazil for a total count of 5,242.
Bob Bower
Senior Vice President
Investment Properties Group
Lic. 00605033
408.453.7435
CBRE, Inc.
225 W. Santa Clara St.
10th Floor
San Jose, CA 95113
In Collaboration with
CBRE, Inc.
Sacramento Office
Tenant AutoZone, Inc Lease Guarantee Corporate AutoZone Ownership Public Lease Type NN Lease Commencement Date 12/30/2008 Lease Expiration 12/29/2023 Term Remaining 9.9 Years - Nine Years, Nine Months Options 5 - 5 Year Increases 10% Every 5 Years Management No Management Responsibilities Maintenance/Preventative AutoZone Taxes AutoZone Utilities, Garbage, Water AutoZone Years Monthly Rent Annual Rent 12/1/2008-11/30/2013 $11,876.00 $142,512.00 12/1/2013-11/30/2018 $13,585.00 $156,763.20 12/1/2018-11/30/2023 $14,369.96 $172,439.52 Options 12/1/2023-12/30/2028 $15,806.96 $189,683.52 12/1/2028-12/30/2033 $17,387.65 $208,651.80 12/1/2033-12/30/2038 $19,126.42 $229,517.04 12/1/2038-12/30/2042 $21,039.06 $252,468.72 12/1/2042-12/30/2047 $23,142.96 $277,715.52
$2,750,000.00 @ 5.70% CAP Rate
Financing Options 1. No Existing Debt: Buyer can pursue their own
financing. Please check with your lender regarding current interest rates available loans.
The increase value for 12/1/2013 was utilized in establishing the above Purchase Price and CAP Rate.
FOR INFORMATION
AutoZone
© 2014 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
LEASE SUMMARY PURCHASE SUMMARY
2615 South Chestnut Avenue Fresno, CA 93725
Bob Bower
Senior Vice President
Investment Properties Group
Lic. 00605033
408.453.7435
CBRE, Inc.
225 W. Santa Clara St.
10th Floor
San Jose, CA 95113
In Collaboration with
CBRE, Inc.
Sacramento Office
FOR INFORMATION
AutoZone
© 2014 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
INTERIOR PICTURES
2615 South Chestnut Avenue Fresno, CA 93725
Bob Bower
Senior Vice President
Investment Properties Group
Lic. 00605033
408.453.7435
CBRE, Inc.
225 W. Santa Clara St.
10th Floor
San Jose, CA 95113
In Collaboration with
CBRE, Inc.
Sacramento Office
FOR INFORMATION
AutoZone
© 2014 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
As of 2013, the city's population was 509,000 making it the fifth largest city in California, the largest inland city in California and the 34th largest in the nation. Fresno is in the center of the San Joaquin Valley and is the largest city in the Central Valley, which contains the San Joaquin Valley. It is approximately 200 miles north of Los Angeles, and 170 miles south of the state capital, Sacramento. Metropolitan Fresno has a population of 1,107,416.
LOCATION
2615 South Chestnut Avenue Fresno, CA 93725
Bob Bower
Senior Vice President
Investment Properties Group
Lic. 00605033
408.453.7435
CBRE, Inc.
225 W. Santa Clara St.
10th Floor
San Jose, CA 95113
In Collaboration with
CBRE, Inc.
Sacramento Office
FOR INFORMATION
MADERA ACRES
MADERA
AutoZone
© 2014 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
S. CHESTNUT AVE
E. JE
NSEN
AV
E
AERIAL LOCATION
2615 South Chestnut Avenue Fresno, CA 93725
Bob Bower
Senior Vice President
Investment Properties Group
Lic. 00605033
408.453.7435
CBRE, Inc.
225 W. Santa Clara St.
10th Floor
San Jose, CA 95113
In Collaboration with
CBRE, Inc.
Sacramento Office
FOR INFORMATION
AutoZone
© 2014 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
DEMOGRAPHICS
2615 South Chestnut Avenue Fresno, CA 93725
Bob Bower
Senior Vice President
Investment Properties Group
Lic. 00605033
408.453.7435
CBRE, Inc.
225 W. Santa Clara St.
10th Floor
San Jose, CA 95113
In Collaboration with
CBRE, Inc.
Sacramento Office
FOR INFORMATION
AutoZone
© 2014 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
LOCATION / TRAFFIC COUNTS
2615 South Chestnut Avenue Fresno, CA 93725
Bob Bower
Senior Vice President
Investment Properties Group
Lic. 00605033
408.453.7435
CBRE, Inc.
225 W. Santa Clara St.
10th Floor
San Jose, CA 95113
In Collaboration with
CBRE, Inc.
Sacramento Office
FOR INFORMATION
AutoZone
© 2014 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
2615 South Chestnut Avenue Fresno, CA 93725
Bob Bower
Senior Vice President
Investment Properties Group
Lic. 00605033
408.453.7435
CBRE, Inc.
225 W. Santa Clara St.
10th Floor
San Jose, CA 95113
In Collaboration with
CBRE, Inc.
Sacramento Office
EXPANDED MAP
FOR INFORMATION
CB Richard Ellis, Inc.
225 W. Santa Clara St.
10th Floor
San Jose, CA 95113
Bob Bower
Senior Vice President
Lic. 00605033
408.453.7435
AutoZone
© 2014 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
DEMOGRAPHICS
FOR INFORMATION
2615 South Chestnut Avenue Fresno, CA 93725
Bob Bower
Senior Vice President
Investment Properties Group
Lic. 00605033
408.453.7435
CBRE, Inc.
225 W. Santa Clara St.
10th Floor
San Jose, CA 95113
In Collaboration with
CBRE, Inc.
Sacramento Office
