FFO Home - LoopNet...The Jackson area has attracted major manufacturing companies like Procter & Gamble and Stanley/Black and Decker. Jackson is the U.S. home to Japanese manufacturers

FFO Home1505 Vann Drive | Jackson, Tennessee

Net Lease Investment Offering

www.bouldergroup.com | Confidential Offering Memorandum| 2 |

FFO Home | Jackson, TN

Offering SummaryExecutive Summary ................................................................... 1

Investment Highlights ............................................................. 2

Property Overview ...................................................................... 3

Location OverviewPhotographs ...................................................................................4

Location Aerial .............................................................................. 5

Site Plan .............................................................................................6

Map ....................................................................................................... 7

Market OverviewMarket Overview ..........................................................................8

Demographics ..............................................................................9

Tenant SummaryTenant Profile ............................................................................... 10

Table of Contents

TABLE OF CONTENTS


FFO Home | Jackson, TNExecutive Summary

EXECUTIVE SUMMARY

The Boulder Group is pleased to exclusively market for sale a single tenant Furniture Factory Outlet property located in Jackson, Tennessee. The property was recently built in 2017 and has approximately thirteen years remaining on the lease, which expires August 4th, 2032. The lease features rental escalations of over 10% every five years and two 5-year renewal options.

The 21,500 square foot building is located immediately off Interstate 40 along Vann Drive in Jackson’s primary retail corridor. Interstate 40 is the primary east-west thoroughfare in the area experiencing traffic counts of 48,795 vehicles per day. Retailers located in the immediate area include Walmart Supercenter, The Home Depot, Sam’s Club, Lowe’s Home Improvement, Dick’s Sporting Goods, Ross Dress for Less and Kohl’s. Hotels located in the immediate area including Fairfield Inn, Comfort Suites, Best Western and Quality Inn. Directly west of the FFO location, construction is in progress for a mixed-use project. The project offers a destination featuring shopping, restaurants and a luxury 312-unit apartment project. Two miles north of the property is Union University, a top-ranked private university with over 3,300 students. The property is also located within close proximity to multiple residential communities and local businesses. There are over 64,000 people living within a five-mile radius of the property.

Founded over 30 years ago, FFO Home is a superior value furniture retailer with 68 stores in Arkansas, Missouri, Oklahoma and Kansas. Formerly Furniture Factory Outlet, FFO Home delivers great quality for less with a wide variety of upholstery, dining, bedroom, and mattresses, all at up to 50% less than the competition. They also carry top name brands like Flexsteel, Serta, and Homestretch.



INVESTMENT HIGHLIGHTS

■ Recently constructed (2017)

■ Approximately thirteen years remaining on the lease

■ Rental escalations of over 10% every five years

■ Positioned in a retail corridor featuring Walmart Supercenter, The Home Depot, Sam’s Club, Lowe’s Home Improvement, Dick’s Sporting Goods, Ross Dress for Less and Kohl’s

■ Less than two-mile from Union University, a top-ranked private university with over 4,300 students

■ Construction is in progress for a mixed-use project offering shopping, restaurants and luxury living directly west to the property

■ Over 64,000 people living within a five-mile radius of the property

■ FFO Home is a superior value furniture retailer with 68 stores

Investment Highlights



PROPERTY OVERVIEW

Price: $2,938,333

Cap Rate: 7.50%

Net Operating Income: $220,375*

Lease Expiration Date: 8/4/2032

Renewal Options: Two 5-Year

Rental Escalations: $247,250 – 8/5/2023$274,125 – 8/5/2028

$295,625 – 8/5/2032 (First Option)$317,125 – 8/5/2037 (Second Option)

Tenant: Furniture Factory Outlet, LLC

Year Built: 2017

Lease Type: NN (Roof & Structure)

Building Size: 21,500 SF

Land Size: 1.99 Acres

Property Overview

*Landlord can charge a 10% administration fee on management related

expenses for the Shopping Center


FFO Home | Jackson, TNPhotographs


FFO Home | Jackson, TNLocation Aerial


FFO Home | Jackson, TNSite Plan


FFO Home | Jackson, TNLocation Map



1-Mile 3-Mile 5-Mile

Total Population: 3,010 27,605 64,525

Total Households: 1,209 10,983 24,885

1-Mile 3-Mile 5-Mile

Average Household Income: $56,323 $71,154 $66,910

Median Household Income: $32,086 $49,008 $44,456

Population Income

DEMOGRAPHICS

Demographics



City ofJackson, Tennessee

Jackson is the county seat of Madison County, Tennessee with a population of over 67,000 people. Located 70 miles east of Memphis, it is a regional center of trade for West Tennessee. Jackson is the primary city of the Jackson, Tennessee metropolitan area, which is included in the Jackson-Humboldt, Tennessee Combined Statistical Area. Jackson is Madison County’s largest city, and the second-largest city in West Tennessee next to Memphis. It is home to the Tennessee Supreme Court’s courthouse for West Tennessee, as Jackson was the major city in the west when the court was established in 1834.

Interstate 40 goes through the city in an east-west direction, and U.S. Route 45 in a north-south direction. Interstate 40 has six exits in the city. McKellar-Sipes Regional Airport serves the city. SeaPort Airlines began commercial service from Jackson to both Memphis and Nashville in January 2012.

The Jackson area has attracted major manufacturing companies like Procter & Gamble and Stanley/Black and Decker. Jackson is the U.S. home to Japanese manufacturers including TBDN and ARJ [Toyota Boshoku] and Pacific Industries. Jackson is home to Bodine Aluminum, a 100% Toyota owned high volume die casting plant. Jackson began investing in a large fiber network in 2003 and in January 2015 Jackson was named a “Gig City” from the upgrades to its fiber network to offer Internet speeds up to 1 gigabit per second to the home.

www.cityofjackson.net

Market Overview



FFO Home

Founded over 30 years ago, FFO Home is a superior value furniture retailer with 68 stores in Arkansas, Missouri, Oklahoma and Kansas. Formerly Furniture Factory Outlet, FFO Home delivers great quality for less with a wide variety of upholstery, dining, bedroom, and mattresses, all at up to 50% less than the competition. They also carry top name brands like Flexsteel, Serta, and Homestretch.

Website: www.ffohome.comLocations: 68Year Founded: 1985Headquarters: Fort Smith, AR

Tenant Profile

John FeeneySenior Vice [email protected]

EXLUSIVELY LISTED BY:

Jimmy [email protected]

The Boulder Group3520 Lake Avenue, Suite 203Wilmette, Illinois 60091

www.bouldergroup.com

CONFIDENTIALITY & DISCLAIMERThe information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group.

This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation.

The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes 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.

Documents

FFO Home - LoopNet...The Jackson area has attracted major manufacturing companies like Procter & Gamble and Stanley/Black and Decker. Jackson is the U.S. home to Japanese manufacturers