Bob Havasi [email protected] (216) 562 1981 x10 Dan ......Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124 Bob Havasi [email protected]

Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124 www.coopergrp.com

Bob Havasi [email protected] (216) 562-1981 x10

Dan Cooper [email protected] (216) 562-1981 x12

In Cooperation with Licensed AL Broker

http://www.coopergrp.com

mailto:[email protected]


2

Table of Contents

INVESTMENT SUMMARY

Investment Highlights ….…………….. 4

Investment Overview ………….…….. 5

Location Overview…………...……….. 6

Offering Summary …………………… 7

FINANCIAL ANALYSIS

Rent Roll ……………………..…..…… 9

Financial Analysis …...……….…..….. 10

PROPERTY ANALYSIS

Site Plan ..….…………………….….. 12

Aerial Map ………………………...….. 13-14

Location Maps .…………………….…. 15

Demographics ..…………………….… 16

TENANT ANALYSIS

Tenant Profiles ……….………………. 18-28

Disclosure & Confidentiality .…...…… 29

3

INVESTMENT HIGHLIGHTS

4

Alabama Crossing

• 100% Occupied Center Shadow Anchored by Walmart Supercenter, Adjacent to Lowe’s and Across From Burke’s Outlet Anchored Center

• Increased Foot Traffic with New Chick-fil-A Outparcel and Shared Signalized Entrance with Glenn Crossing and Walmart Supercenter

• Mostly NNN Leases & Nearly 65% of the Center Leased to 2022 and Beyond

• Excellent Leasing Traction: Consistent Inquiries to Landlord Requesting Space From Credit National Retailers

• Diverse Mix of Tenants Offering Recession Proof Retailers As Well As Alternative Retail/Medical Users, Providing Long-Term Stability: Nationally Recognized Sally Beauty (NYSE: SBH/S&P “BB+”/Moody’s “Ba2”), GameStop (NYSE: GME/S&P “BB”/Moody’s “Ba1”), Advance America and CATO (NYSE: CATO)

• Newly Executed Leases, Lease Renewals and Tenured Tenants Proving Commitment and Desire to be Located at the Center and Market

• High Visibility and Great Accessibility Off Main Roadway (16,500 VPD) and Convenient Highway Access (I-59, 19,000 VPD): Attractive, Contemporary Curb Appeal, Prominent Pylon Signage and Ample Parking

• Main Retail Corridor Surrounded by Complimentary Retailers: Walmart Supercenter, Lowe’s, Burke Outlet, Hibbett Sporting Goods, Holiday Inn Express, Waffle House, Zaxby’s, Cracker Barrel and Verizon Wireless

• Direct Vicinity to Major Employers: Ferguson Enterprises, PlayCore’s Southern Fulfillment Center, Siemens Energy Service’s Electrical Components Plant, One of Vulcraft’s Seven Manufacturing Facilities, The Children’s Place Retail Stores, Inc. Distribution Center (200+ Employees), Heil Environmental Manufacturing Plant (Headquartered in Chattanooga) and Dekalb Regional Medical Center (0.6 Miles, Full-Service, 134-Bed Facility)

ADDITIONAL HIGHLIGHTS

5

The Cooper Commercial Investment Group has been exclusively retained by

ownership to sell the 100% fee simple interest in the Walmart Supercenter

shadow anchored Alabama Crossing. The center is a 27,800 S.F. center

boasting an excellent mix on internet resistant tenants. The property is located

in Fort Payne, Alabama, which is part of a tri-state corridor being only minutes

to Georgia and Tennessee. The 100% occupied asset has been reduced to

$4,780,000, representing an 8.25% CAP Rate and consists of tenured tenants

along with newly executed leases providing long-term stability. In fact, the

owner consistently obtains inquiries from other national, credit retailers

requesting space at the center. Most of the tenants are on NNN lease structures

and nearly 65% of the center is leased to 2022 and beyond. The asset also

offers nationally recognized Sally Beauty (NYSE: SBH/S&P “BB+”/Moody’s

“Ba2”), GameStop (NYSE: GME/S&P “BB”/Moody’s “Ba1”), Advance America

and CATO (NYSE: CATO), while the remaining tenants offer medical or

specialty uses.

The attractive, contemporary construction draws residents to the retailers and

service providers located at the center. With prominent signage along the main

roadway, Alabama Crossing also gains traffic with the new Chick-fil-A that is an

outparcel to the center. Additionally, the center shares signalized entrance to

the Walmart Supercenter. The property sits in the heart of the business corridor

and is surrounded by other complimentary retailers including Lowe’s, Burke

Outlet, Hibbett Sporting Goods, Holiday Inn Express, Waffle House, Zaxby’s,

Cracker Barrel, Verizon Wireless and many more.

Positioned along Glenn Blvd., less than .5 miles to I-59, the property is

surrounded by some of the highest traffic counts in the city with more than

20,000 VPD. The center benefits from its position central to the city’s major

employers that support the trade area. In fact, there are more than 10,000

employees within a 5-mile radius and 7,500 within a 3-mile radius. Ferguson

Enterprises has a 645,000 square feet distribution center, PlayCore’s Southern

Fulfillment Center, a 400,000 square feet plant dedicated to playground

equipment manufacturing and distribution and Siemens Energy Service’s

Electrical Components plant are all within 2 miles of Alabama Crossing.

Additionally, one of Vulcraft’s seven manufacturing facilities, The Children’s

Place Retail Stores, Inc. with a 700,000 square foot automated distribution

center (200+ employees) and Heil Environmental whom is headquartered in

Chattanooga, Tennessee, has its flagship manufacturing plant just a few miles

north off I-59. Furthermore, Dekalb Regional Medical Center is nearly directly

across from the center and is the region’s healthcare provider being a full-

service, 134-bed facility offering inpatient and outpatient care, emergency ser-

vices, heart care, labor and delivery, imaging, behavioral health, rehabilitation,

a sleep center, and a fitness and wellness center. With the center’s desirable

location, inviting appearance and stable tenant roster, the asset is positioned

to be a solid investment well into the future.

INVESTMENT OVERVIEW

6

Fort Payne, county seat of DeKalb County, is a city of great opportunity and

ideally located to service a wide range of industries. Located in the growing

Southeast, Fort Payne is only an hour from Chattanooga, Tennessee, less

than two hours from Huntsville and Birmingham, Alabama, and less than 3

hours from Atlanta, Georgia.

Fort Payne offers an excellent transportation system as it is located on I-59

and has easy access to several other interstate systems including I-24, I-75,

I-65, and I-20, making it easy and convenient to get anywhere in the country.

I-59 is a north-south highway that connects New Orleans, Louisiana and

Chattanooga, Tennessee. The Norfolk-Southern Railroad also provides con-

venient rail transportation opportunities. Fort Payne Municipal Airport,

Isbell Field, is located just five miles from the property.

Fort Payne and the surrounding areas are populated with talented men and

women who make up a skilled labor pool from which employers can draw

upon. The area’s leading employers include: Ferguson Enterprises, which

has a 645,000 square feet distribution center, Heil Environmental whom is

headquartered in Chattanooga, Tennessee has its flagship manufacturing

plant in Fort Payne. Additionally, PlayCore’s Southern Fulfillment Center is

based in Fort Payne and features a 400,000 square feet plant dedicated to

playground equipment manufacturing. Siemens Energy Service’s Electrical

Components Plant, one of Vulcraft’s seven manufacturing facilities,

Ovalstrapping (Go Packaging USA) and The Children’s Place Retail Stores,

Inc. all have a large presence in Fort Payne. The Children’s place operates

a 700,000 square foot automated distribution center that opened in

2007. The company relocated their rapidly growing e-commerce business

from its Secaucus, New Jersey distribution center to the Company’s

Southeast distribution center in Fort Payne in June 2009 and has since

offered employment to more than 200 people. Furthermore, Dekalb

Regional Medical Center is the community healthcare provider and is a

full-service, 134-bed facility offering inpatient/outpatient care, emergency

services, heart care, labor & delivery, imaging, behavioral health, home

health, rehabilitation, a sleep center, and a fitness and wellness center.

A welcoming destination, DeKalb County offers visitors exciting adventures

and breathtaking landscapes that are home to majestic mountains, master

artisans, and cultural heritage. The area is rich with tourism with access to

the Appalachian. The Desoto State Park is named one of the top 10 State

Parks in America and offers hand-cut stone and timber cottages, pavilions

and buildings. The Little River is the only river in the world to run its full

length across the top of a mountain. The river stretches across Lookout

Mountain, forming Desoto Falls – a 104-ft waterfall. The river is known for

providing boating and kayaking opportunities and opens up to form the

Little River Canyon National Preserve. The canyon offers breathtaking

views of sheer rock cliffs and canyon rim walls.

LOCATION OVERVIEW

7

Loan Amount:

Loan Type:

Interest Rate:

Amortization:

Term:

Loan-to-Value (LTV):

$3,346,000

New Loan

5.00%

25 Years

5 Years

70.00%

Anticipated New Financing

Rental Income:

Tenant Reimbursements:

Potential Gross Income:

Vacancy (Actual):

Vacancy for Reimbursements:

Effective Gross Income:

Expenses:

NOI:

Annual Debt Service:

Structural Reserve ($0.10/S.F.):

Cash Flow After Reserves:

Cash-on-Cash Return:

$418,363

$35,288

$453,650

($0)

($0)

$453,650

$59,430

$394,221

$234,725

$2,780

$156,716

10.93%

Operating Data

Reduced Price:

Down Payment:

Gross Leasable Area:

Price/SF:

NOI:

CAP Rate:

Year Built:

Lot Size:

Foundation:

Exterior:

$4,780,000

$1,434,000

27,800 S.F.

$171.94

$394,221

8.25%

2000

Approx. 2.7 Acres

Concrete

Concrete Block/Metal

SUMMARY

8

9

% of Lease Lease Rent/ Annual Lease Rental Option

Tenant GLA Total Since Start Expiration S.F. Rent Type Bumps Rate/S.F.

2,040 7.34% 2013 6/1/2018 5/31/2023 $11.00 $22,440 NNN None (1) 5-Yr.

$13.31/SF

1,500 5.40% 2008 1/1/2018 12/31/2022 $15.49 $23,232 Gross None N/A

4,000 14.39% 2002 6/1/2017 5/31/2022 $15.60 $62,381 Gross None N/A

1,000 3.60% 2013 11/1/2018 10/31/2023 $15.40 $15,400 NNN None N/A

2,000 7.19% 2010 2/1/2018 1/31/2020 $20.00 $40,000 NNN None (1) 2-Yr.

$21.00/SF

(1)

1,200 4.32% 1999 6/1/2018 5/31/2021 $14.69 $17,625 NNN 6/1/2019

$15.25/SF (1) 3-Yr.

FMV

6,500 23.38% 2018 8/23/2018 8/31/2028 $14.65 $95,225 NNN 9/1/2023

$15.38/SF

(2) 5-Yr. Option 1: $16.92/SF Option 2: $18.61/SF

2,400 8.63% 2016 4/1/2019 3/31/2022 $14.30 $34,320 NNN None (1) 3-Yr.

Option 1: $15.73/SF

4,160 14.96% 2000 2/1/2015 1/31/2020 $14.00 $58,240 Flat $1.75/SF None

(3) 5-Yr. Option 1: $15.00/SF Option 2: $16.00/SF Option 3: $17.00/SF

(Flat Rate Charges and % Rent Increase))

3,000 10.79% 2012 9/1/2012 8/31/2022 $16.50 $49,500 NNN None (2) 5-Yr.

Option 1: $18.15/SF Option 2: $19.96/SF

Total Building 27,800 100.00% $15.05 $418,363

Vacancy - 0.00% $ - $ -

(1) Blended rental rate for increase effective 6/1/2019. Pro Forma based on calendar year September 1, 2018 through August 31, 2019.

10

Pro Forma

2016 2017 2018-2019 $/SF

INCOME:

Potential Rental Income

Rental Income $ 393,578 $ 410,351 $ 418,363 $ 15.05

Tenant Reimbursements (1) 52,709 28,337

Real Estate Taxes 14,736 0.53

Insurance 7,621 0.27

CAM 10,689 0.38

Management/Admin. Fee 2,243 0.08

Gross Potential Rental Income $ 446,287 $ 438,688 $ 453,650 $ 16.32

Vacancy Factor (Actual) 0.00% - -

Reimbursements From Vacancy 0.00% - -

Effective Gross Income $ 446,287 $ 438,688 $ 453,650 $ 16.32

OPERATING EXPENSES:

Management Fee 4% $ 16,735 $ 0.60

Real Estate Taxes 18,370 18,370 18,370 0.66

Insurance 9,372 9,372 9,500 0.34

Landscaping & Sweeping (2) 8,100 3,825 4,500 0.16

Lights (3) 5,567 2,451 2,750 0.10

Irrigation 907 846 925 0.03

Pest Control 624 780 850 0.03

Repairs 2,500 4,000 4,000 0.14

Sprinklers 300 200 300 0.01

Roof Maintenance (LL Cost) - - 1,500 0.05

Total Expenses $ 45,740 $ 39,844 $ 59,430 $ 2.14

Net Operating Income $ 400,547 $ 398,844 $ 394,221 $ 14.18

Loan Analysis

Cash Flow Available Before Debt Service $ 394,221 $ 14.18

CAP Rate (Reduced) 8.25% 8.25%

Valuation $ 4,780,000 $ 171.94

Loan to Value 70.00% 70.00%

Loan Amount $ 3,346,000 $ 120.36

Rate 5.00% 5.00%

Term 5 5

Amortization 25 25

Annual Debt Service $ 234,725 8.44

Debt Service Coverage Ratio 1.68 1.68

(1) In 2016, LL collected NNN's from Tenant who had vacated.

(2) One-time expense in 2016 to work on retaining wall landscaping near Chick-fil-A.

(3) New LED Lights Installed in 2017 to cut costs.

11

12

13

14

15

16

1906 Glenn Blvd SW 3 mi radius 5 mi radius 10 mi radius 15 mi radius

Fort Payne, AL 35968

POPULATION

2018 Estimated Population 7,591 13,335 35,601 59,557

2010 Census Population 7,418 13,078 35,132 59,121

2000 Census Population 6,909 12,027 31,998 54,565

Historical Annual Growth 2000 to 2018 0.5% 0.6% 0.6% 0.5%

2018 Median Age 36.4 36.9 38.7 39.7

HOUSEHOLDS

2018 Estimated Households 3,006 5,270 14,308 23,904

2023 Projected Households 3,044 5,331 14,521 24,452

2010 Census Households 2,819 4,973 13,618 22,859

2000 Census Households 2,734 4,732 12,607 21,402

Projected Annual Growth 2018 to 2023 0.3% 0.2% 0.3% 0.5%

Historical Annual Growth 2000 to 2018 0.6% 0.6% 0.7% 0.6%

RACE AND

ETHNICITY

2018 Estimated White 76.0% 78.5% 84.6% 86.1%

2018 Estimated Black or African American 6.0% 5.0% 2.9% 2.3%

2018 Estimated Asian or Pacific Islander 1.5% 1.2% 1.0% 0.7%

2018 Estimated American Indian or Native Alaskan 1.0% 1.0% 1.0% 1.1%

2018 Estimated Other Races 15.5% 14.3% 10.6% 9.9%

INCOME

2018 Estimated Average Household Income $46,378 $48,061 $51,789 $51,182

2018 Estimated Median Household Income $38,651 $40,610 $44,653 $41,931

2018 Estimated Per Capita Income $18,768 $19,249 $20,929 $20,654

EDUCATION

(AGE 25+)

2018 Estimated Elementary (Grade Level 0 to 8) 13.6% 12.9% 10.1% 10.4%

2018 Estimated Some High School (Grade Level 9 to 11) 18.7% 18.5% 14.9% 15.1%

2018 Estimated High School Graduate 31.3% 31.1% 32.9% 34.0%

2018 Estimated Some College 18.0% 18.1% 19.0% 18.8%

2018 Estimated Associates Degree Only 10.0% 10.2% 11.1% 9.9%

2018 Estimated Bachelors Degree Only 4.1% 4.7% 6.3% 6.9%

2018 Estimated Graduate Degree 4.3% 4.5% 5.6% 5.0%

BUSINESS

2018 Estimated Total Businesses 746 980 1,565 2,011

2018 Estimated Total Employees 7,301 9,859 17,089 20,823

2018 Estimated Employee Population per Business 9.8 10.1 10.9 10.4

2018 Estimated Residential Population per Business 10.2 13.6 22.8 29.6

17

18

Website:

Headquartered:

# of Locations:

Ticker Symbol:

Credit Rating:

www.walmart.com

Bentonville, AR

10,773

NYSE: “WMT”

S&P “AA”

Moody’s “Aa2”

Walmart Stores, Inc. operates retail stores in various formats worldwide. The company operates in three segments: Walmart U.S., Walmart International, and Sam's Club. The company operates retail stores, restaurants, discount stores, grocery, supercenters, hypermarkets, warehouse clubs, apparel stores, Sam’s Clubs, neighborhood markets, and other small formats. The company’s stores offer groceries, floral, health and beauty aids, baby products, home supplies, electronics, toys, photo processing services, cellular phones and services, automotive accessories, hardware and paint, pharmacy and optical services, along with apparel for women, girls, men, boys, and

infants.

*Source - www.walmart.com

Shadow Anchor Tenant

19

Sally Beauty (NYSE: SBH/S&P “BB+”/Moody’s “Ba2”) sells to both consumer and professional customers. The company sells hair color and care, skin and nail care, beauty sundries, and styling tools for retail customers and salon professionals. This segment also provides products under third-party brands, such as Clairol, CHI, China Glaze, OPI, and Conair, as well as exclusive-label merchandise Every Sally store carries more than 5,000 professional salon products for hair, nails and skin, plus the latest in beauty trends and accessories. There are also complete ethnic offerings in every store, and expanded ethnic sections in appropriate areas. Sally Beauty’s store associates are trained professionals, many of

whom are licensed hair stylists.

www.sallybeauty.com Source: www.sallybeauty.com

Tenant Base Rent Schedule

Current:

Option 1:

Monthly

$1,870.00

$2,262.70

PSF

$11.00

$13.31

Common Area Maintenance:

Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Pro Rata Share

5% Over Previous Year

on CAM Expenses

Pro Rata Share

Pro Rata Share

None

Pro Rata Share

Tenant Recapture

Annual

$22,440.00

$27,152.40

Headquarter:

# of Total Locations:

Type:

Ticker Symbol:

S&P Credit Rating:

Moody’s Credit Rating:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:

Termination Clause:

Edina, MN

3,700+

Corporate

NYSE: SBH

BB+

Ba2

2,040

2013

06/01/2018

05/31/2023

None

(1) 5-Yr.

None

Walmart

None

Tenant Lease Abstract

20

As a leading specialty retailer of women's fashions, CATO (NYSE:

CATO) is committed to offering high quality fashions at low prices

every day. The stores offer the latest fashion styles for any

occasion – work or play, dressy or casual in junior/misses and plus

sizes. CATO also offers great jewelry, shoes and accessories, too.

A substantial portion of Cato’s merchandise is sold under its

private labels and is produced by various vendors in accordance

with the company's specifications. The parent company operates

apparel and accessories specialty stores under the names "Cato",

“Versona”, “it’s Fashion” and "It's Fashion Metro". www.catofashions.com

Source: www.catofashions.com


Current:

Option 1:

Option 2:

Option 3:

Monthly

$4,853.33

$5,200.00

$5,546.67

$5,893.33

PSF

$14.00

$15.00

$16.00

$17.00

Flat Rate $1.75/SF

None

None

None

None

Annual

$58,240.00

$62,400.00

$66,560.00

$70,720.00

Headquarter:


Corporate:

Ticker Symbol:

GLA:

Tenant Since:

Current Term Start:

Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:

Termination Clause:

Charlotte, NC

1,000 in 32 States

The CATO Corp.

NYSE: CATO

4,160

2000

02/01/2015

01/31/2020

None

(3) 5-Yr.

Competitive Use

50% Occupancy

None



Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Tenant Recapture

21

GameStop Corp. (NYSE: GME/S&P “BB”/Moody’s “Ba1”) operates

as an omnichannel video game retailer. It sells new and pre-owned

video game hardware; video game software; pre-owned and value

video game products; video game accessories. The company also

sells mobile and consumer electronics, including wireless

products and services, and accessories, as well as new and

pre-owned smart phones; personal computer (PC) entertainment

software in various genres, including sports, action, strategy,

adventure/role playing, and simulation; and strategy guides,

magazines, and interactive game figures. In addition, it offers

collectibles that include licensed merchandise related to the video

game, television, and movie industries, as well as pop culture

themes.

www.gamestop.com

Source: www.gamestop.com


Current:

Option 1:

Monthly

$3,333.33

$3,500.00

PSF

$20.00

$21.00

Annual

$40,000.00

$42,000.00

Headquarter:


Corporate:

Ticker Symbol:

S&P Credit Rating:

Moody’s Credit Rating:

GLA:

Tenant Since:

Current Term Start*:

Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:

Other Termination Clause:

Grapevine, TX

7,535+

GameStop Inc.

NYSE: GME

BB

Ba1

2,000

2010

02/01/2018

01/31/2020

None

(1) 2-Yr.

Video Games

Walmart or

70% Occupancy

None



Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Pro Rata Share

3% Over Previous Year on

CAM, Excluding Snow

Removal

Pro Rata Share

Pro Rata Share

10% on CAM Expenses (Excluding Snow Removal, Utilities &

Security) None

Tenant Recapture

22

Northeast Orthopedics is a full-service orthopedic care provider

serving Northeast Alabama since 1986. Through continuing

education and training, the clinic’s board certified orthopedic

surgeons employ the latest advances in orthopedic care, including

total joint replacement, hip and knee replacement, spine, and

sports medicine. The group is committed to giving patients the

best orthopedic care available. Northeast Orthopedics has on site

x-ray, MRI, and physical therapy for the convenience of patients.

Source: www.northeastorthopedics.com


Current:

Bump 9/1/2023:

Option 1:

Option 2:

Monthly

$7,935.42

$8,330.83

$9,165.00

$10,080.42

PSF

$14.65

$15.38

$16.92

$18.61

Annual

$95,225.00

$99,970.00

$109,980.00

$120,965.00

Headquarter:


Guaranty:

GLA:

Tenant Since:


Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:


Gadsden, AL

5

Personal

6,500

2018

08/23/2018

08/31/2028

Yes

(2) 5-Yr.

Orthopedic Services

None

None



Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Pro Rata Share


CAM Expenses, Excluding

Snow/Ice Removal

Pro Rata Share

Pro Rata Share

10% on CAM Expenses

None

Tenant Recapture

www.northeastorthopedics.com

23

Rapid Care Family Medical Clinic is open 7 days a week, 360 days a year. Not only convenient with office hours, the group has mastered the art of getting patients quality medical attention with extremely short wait times. The medical clinic offers labs to simple procedures (e.g. wart removal, sutures, etc.) to health screenings/physicals and more from their state-of-the-art facility with digital

x-ray and on-site laboratories.

www.rapidcareal.com

Source: www.rapidcareal.com


Current:

Monthly

$5,198.42

PSF

$15.60

Annual

$62,381.00

Headquarter:


GLA:

Tenant Since:


Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:


Albertville, AL

2

4,000

2002

06/01/2017

05/31/2022

None

None

None

None

None



Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Gross (Pays In-Suite Utilities)

Gross

Gross

None

None

Tenant Recapture

24

Advance America is one of the nation’s largest consumer lending

companies offering a variety of financial services. Advance

America is a wholly owned subsidiary of Grupo Elektra (Moody’s

“Ba3”), one of the world’s leading providers of banking services,

consumer finance, personal loans and specialty retailing. Whether

customers need a Payday Loan or Installment Loan, Advance

America Racine is the place to go. Advance America is a

nationally recognized, fully licensed financial company that helps

millions of people every year. The company’s services include:

Payday Loans, Installment Loans, Online Installment Loans, Title

Loans, MoneyGram Services and Visa Prepaid Cards. www.advanceamerica.net

Source: www.advanceamerica.net


Current:*

Bump 6/1/2019:

Option 1:

Monthly

$1,468.75

$1,525.00

FMV

PSF

$14.69

$15.25

FMV

Annual

$17,625.00

$18,300.00

FMV

Headquarter:


Corporate:

GLA:

Tenant Since:


Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:


Spartanburg, SC

2,000+

Advance America

1,200

1999

06/01/2018

05/31/2021

Yes

(1) 3-Yr.

Check Advance

None

Prohibited Business by

State/Federal Laws



Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Pro Rata Share

Pro Rata Share

Pro Rata Share

10% on Operating Expenses

None

* Blended rental rate for increase effective 6/1/2019. Pro Forma based on calendar year September 1, 2018 through August 31, 2019.

Tenant Recapture

25


Current:

Option 1:

Option 2:

Monthly

$4,125.00

$4,537.50

$4,990.00

PSF

$16.50

$18.15

$19.96

Annual

$49,500.00

$54,450.00

$59,880.00

Headquarter:


Guaranty:

GLA:

Tenant Since:


Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:


Fort Payne, AL

1

Personal

3,000

2012

09/01/2012

08/31/2022

None

(2) 5-Yr.

None

None

None


Tenant Recapture


Cap:

Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Pro Rata Share


CAM Expenses

Pro Rata Share

Pro Rata Share

11.1% on CAM Expenses

None

26

Founded in 1952, Republic Finance specializes in providing a

variety of consumer loans, flexible lending and incomparable

customer service, and has assisted its customers in meeting their

personal finance goals for more than 60 years. With branch offices

located within Alabama, Georgia, Kentucky, Louisiana,

Mississippi, South Carolina, Tennessee, and Texas, Republic

Finance is proud to serve nearly 300,000 customers in almost 200

communities throughout the United States. Republic Finance’s

commitment to customer service is the driving force behind the

continuous development of long-lasting relationships with its

customers. A rapidly growing company, Republic Finance prides

itself in identifying lending options that fit the unique needs of

each of its customers and facilitating the loan application

process.

www.republicfinance.com

Source: www.republicfinance.com


Current:

Monthly

$1,283.33

PSF

$15.40

Annual

$15,400.00

Headquarter:


GLA:

Tenant Since:


Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:


Baton Rouge, LA

202+

1,000

2013

11/01/2018

10/31/2023

Yes

None

None

None

None



Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Pro Rata Share

Pro Rata Share

Pro Rata Share


None

* Tenant verbally expressed that they will exercise their option at the rate shown.

Tenant Recapture

27

Mattress Planet, located in Fort Payne, proudly serves the state of

Alabama. The company showcases a large variety of furniture and

appliances. Mattress Planet carries major brands such as Bassett,

Coaster Furniture, Crosley, Dreamfit, Faschion Bed Group,

Leggett & Platt, Protect-A-Bed, Sealy, Stearns & Foster,

Tempur-Pedic and more. The store’s team knows the specs and

stats of all these products, and love nothing more than helping

customers find the mattress that suits them perfectly.

www.shopmattressplanet.com

Source: www.shopmattressplanet.com


Current:

Option 1:

Monthly

$2,860.00

$3,146.00

PSF

$14.30

$15.73

Annual

$34,320.00

$37,752.00

Headquarter:


Guaranty:

GLA:

Tenant Since:


Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:


Fort Payne, AL

1

Personal

2,400

2016

04/01/2019

03/31/2022

None

(1) 3-Yr.

None

None

None



Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Pro Rata Share

Pro Rata Share

Pro Rata Share


None

Tenant Recapture

28


Current:

Monthly

$1,936.00

PSF

$15.49

Annual

$23,232.00

Headquarter:


GLA:

Tenant Since:


Lease Expiration:

Rental Bumps:

Options:

Exclusive Use:

Co-Tenancy:


Fort Payne, AL

1

1,500

2008

01/01/2018

12/31/2022

None

None

None

None

None



Insurance:

Real Estate Taxes:

Admin. Fee:

Mgmt. Fee:

Gross (Pays In-Suite Utilities)

Gross

Gross

None

None

Tenant Recapture

29

DISCLOSURE, CONFIDENTIALITY & DISCLAIMER

CONFIDENTIALITY AGREEMENT DISCLOSURE & DISCLAIMER The information within this Offering Memorandum will set forth an understanding regarding the relationship between the Recipient of this package (the “Recipient”) and The Cooper Group and the confidentiality of the investment information to be supplied to you and your organization for use in considering, evaluating and/or purchasing this property (“Property”). The recipient acknowledges that all financial, contractual, marketing, and informational materials including but not limited to lease information, occupancy information, financial information, projections, data information and any other similar information provided by The Cooper Group which relates to the Property (collectively, the Confidential Information), whether said information was transmitted orally, in print, in writing or by electronic media is confidential in nature and is not to be copied/disseminated to any party without the prior consent of The Cooper Group. The Recipient acknowledges and agrees that the Confidential Information is of such a confidential nature that severe monetary damage could result from dissemination of that information to unauthorized individuals. The Recipient shall limit access to the Confidential Information to those individuals in the Recipient’s organization with a “need to know” and shall take all precautions reasonably necessary to protect the confidentiality of the Confidential Information. The Recipient acknowledges and agrees that the Confidential Information and any copies thereof are the property of The Cooper Group and that all such information will be returned to The Cooper Group upon written request. Any offers or inquiries from Recipient in connection with this investment proposal shall be forwarded, confidentiality, to The Cooper Group. Other than The Cooper Group, recipient agrees that neither Recipient nor The Cooper Group shall be obligated to pay any procuring broker fees in connection with this investment unless a separate written Brokerage Agreement is entered into and written acknowledgement of any procuring Brokerage Agreement is received from all parties to the investment transaction. Procuring brokers must provide written introductions of potential investors and receive written acknowledgment from The Cooper Group for representation to be recognized. This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

The Memorandum contains information pertaining to the property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property, to be all-inclusive or to contain all or part of the information which perspective Recipients may require to evaluate the purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the owner or The Cooper Group. All references disclosed herein related to acreage, square footages and/or other measurements may be approximations and the best information available. The summaries of information included herein do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Photos herein are the Property and respective owners and use of these images without the express written consent of the owner is prohibited. The owner and the Cooper Group expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or terminate discussions with any entity and any time with or without notice which may arise as a result of review of this Memorandum. Neither the owner or the Cooper Group, nor any of their respective directors, officers, affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or its contents; and you are to rely solely on your investigators and inspections of the property in evaluating a possible purchase of the Property. The information contained in this document has been obtained from sources to be reliable. While the Cooper Group does not doubt its accuracy, the Cooper Group has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm the accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the Property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors.

Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124 www.coopergrp.com

Bob Havasi [email protected] (216) 562-1981 x10

Dan Cooper [email protected] (216) 562-1981 x12

In Cooperation with Licensed AL Broker

http://www.coopergrp.com



Documents

Bob Havasi [email protected] (216) 562 1981 x10 Dan ......Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124 Bob Havasi [email protected]