BLOCKBUSTER Video BLOCKBUSTER - EXP Realty Advisors
BLOCKBUSTER Video BLOCKBUSTER - EXP Realty Advisors
BLOCKBUSTER Video BLOCKBUSTER - EXP Realty Advisors
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<strong>BLOCKBUSTER</strong> | 1024 S Main St| Kernersville, NC<br />
Subject Property<br />
New Corporate Sale-Leaseback<br />
25 Stand Alone Stores Available Throughout the Southeastern U.S.<br />
$909,000 | 9.50% CAP | 6,400 SF |$142 PSF<br />
Exclusive Listing Agents: Bob Moorhead | Joe Caputo<br />
212.686.0079 | joe@exp1031.com | www.exp1031.com<br />
<strong>BLOCKBUSTER</strong> <strong>BLOCKBUSTER</strong><strong>Video</strong><br />
1024 S Main 315 St, Greenville Kernersville, Blvd. NC SE, | Greenville, Winston-Salem NC<br />
• Priced Well Below Replacement Cost<br />
• Brand New 10-Year Corporate Sale-Leaseback with <strong>BLOCKBUSTER</strong> Inc. (NYSE: BBI)<br />
• <strong>BLOCKBUSTER</strong> Inc.: 6,000+ Stores Worldwide | Revenues $4.6+ Billion in January 2010<br />
• Strategically Located on S Main St. (Traffic: 17,000+ Cars / Day) Directly off I- 40 Business Loop<br />
• Pad Site to a Target and Petco Anchored Shopping Center<br />
• Neighboring Anchor Tenants: Wal-Mart Supercenter, Lowe’s , Kohl‘s, Food Lion , Staples, Harris Teeter Market<br />
• Kernersville is a Suburb of Winston-Salem Which is Less Than 10 Miles to the West<br />
• Average HH Income (1-Mile): $63,821 2009 US Census<br />
This information has been obtained from sources deemed reliable, however neither <strong>EXP</strong> <strong>Realty</strong> <strong>Advisors</strong>, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.<br />
In association with North Carolina Broker of Record: Marc Liles | License # 184508
<strong>BLOCKBUSTER</strong> | 1024 S Main St| Kernersville, NC<br />
1024 S Main St., Kernersville, NC (Winston-Salem)<br />
OFF I-40 BUSINESS LOOP<br />
INVESTMENT OVERVIEW<br />
<strong>EXP</strong> <strong>Realty</strong> <strong>Advisors</strong> and Retail Resource Group as exclusive advisors are pleased to present for sale a single<br />
tenant corporate sale-leaseback <strong>BLOCKBUSTER</strong>. This offering provides investors the unique opportunity of<br />
owning net leased real estate, priced below the building’s replacement cost, with a double digit investment yield<br />
and potential upside in the event <strong>BLOCKBUSTER</strong> were to vacate.<br />
This location is being sold as a part of a 25 store offering which can be purchased individually or as a portfolio.<br />
For additional information on other available <strong>BLOCKBUSTER</strong> properties please visit www.exp1031.com.<br />
IMMEDIATE TRADE AREA<br />
The subject property is located on S Main St. (average traffic: 17,000+ cars/day) at a signalized intersections. It is a<br />
pad site to a newly constructed Target and Petco anchored shopping center. Other tenants at the center include<br />
Starbucks, Hibbett Sports, Payless Shoes and Mattress Firm. Tenants in the immediate area along S Main St<br />
include Wal-Mart (Supercenter), Staples, Kohl’s, Lowe’s, Harris Teeter and Food Lion among others. In addition,<br />
there are several restaurants including McDonald’s, Chick-Fil-A, Taco Bell, Denny’s, KFC, Burger King and<br />
Wendy’s.<br />
KERNERSVILLE, NC<br />
Kernersville is located at the heart of the Piedmont Triad metropolitan area, which consists of the cities of<br />
Greensboro, High Point, and Winston-Salem. Although Kernersville has traditionally been considered a suburb of<br />
Winston-Salem, the arrival of new industries (particularly the Dell Computer plant), has given the city a booming<br />
population and a character all its own. Much of the rural farmland surrounding the town has been sold and<br />
turned into large middle-to-upper-class housing developments, and numerous large shopping centers have been<br />
built in the town over the past few years.<br />
List Price: $909,000<br />
CAP Rate (Existing): 9.50%<br />
Building Area: 6,400 + SF<br />
Building Price / SF: $142 + PSF<br />
Land Area: 0.75 + Acre<br />
Land Price / SF: $27 + PSF<br />
Year Built: 1991<br />
Ownership: Fee Simple<br />
LEASE OVERVIEW<br />
Base Rent: $86,400 / Year<br />
Annual Rental Rate: $13.50 PSF<br />
Rent Commencement: Close of Escrow<br />
<strong>BLOCKBUSTER</strong> <strong>Video</strong><br />
315 Greenville<br />
Primary Term:<br />
Blvd. SE, Greenville,<br />
10 Years*<br />
NC<br />
Options to Renew: 2, 5-Year<br />
Rent Increases: 10% Every 5 Yrs.<br />
Tenant: <strong>BLOCKBUSTER</strong> Inc.<br />
Lease Type: Absolute NNN<br />
* Tenant has a right to terminate their lease after year 5.<br />
COPYRIGHT © 2010. ALL USE, DISCLOSURE AND/OR REPRODUCTION NOT SPECIFICALLY AUTHORIZED IS PROHIBITED. ALL RIGHTS RESERVED. Retail Real Estate Group dba Retail<br />
Resource Group and <strong>EXP</strong> <strong>Realty</strong> <strong>Advisors</strong> (“Agent”) has presented this confidential Investment Memorandum to assist the recipient in evaluating the “Property” and it is intended for<br />
your use only. This confidential material contains brief, selected information pertaining to the Property and shall not be considered all-inclusive or unchanged since the date of<br />
preparation. No warranty as to the accuracy or completeness is expressed or implied. The information has been received from sources believed to be reliable but is not guaranteed.<br />
Agent disclaims all liabilities in connection with any inaccuracies or incompleteness. The Buyer should independently verify each item of information and have the same reviewed by its<br />
tax advisor and/or legal counsel. The Buyer agrees that (a) the materials are of a highly confidential nature and will be held in the strictest confidence or shall be returned to Agent<br />
upon request; (b) the Buyer shall not contact any property manager, employee or tenant of the Property regarding the enclosed materials or the Property, without prior approval of<br />
Agent; and (c) the Buyer understands and agrees that Agent represents the seller and not the Buyer. Neither the seller nor Agent shall have any obligation to pay any commission,<br />
finder’s fee, or other compensation to any broker or other person dealing with the Buyer. The Buyer may provide information to persons retained for the purpose of evaluating the<br />
Property after first obtaining a signed confidentiality This information agreement has been from obtained such persons from to sources keep such deemed information reliable, confidential. however The neither Buyer <strong>EXP</strong> shall <strong>Realty</strong> defend, <strong>Advisors</strong>, indemnify Inc. and nor hold Retail harmless Resource the Group guarantee, warranty or represent its accuracy.<br />
seller, Agent and its affiliates from and against any claims, demands, damages, liabilities, costs or expenses, including reasonable attorneys’ fees, relating to any claim for a<br />
commission, finder’s fee or other compensation by any broker or other person dealing with the Buyer. The Property is being sold on an “as-is, where-is” and “with all faults” basis.
<strong>BLOCKBUSTER</strong> | 1024 S Main St| Kernersville, NC<br />
Photo Of Intersection<br />
Retail Located Behind Subject Property<br />
<strong>BLOCKBUSTER</strong> <strong>Video</strong><br />
315 Greenville Blvd. SE, Greenville, NC<br />
This information has been obtained from sources deemed reliable, however neither <strong>EXP</strong> <strong>Realty</strong> <strong>Advisors</strong>, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
<strong>BLOCKBUSTER</strong> | 1024 S Main St| Kernersville, NC<br />
Tenant Overview<br />
Founded: 1985 Locations: 6,000+<br />
Headquarters: Dallas, TX 2009 Revenue: $4+ Billion<br />
<strong>BLOCKBUSTER</strong> INC. www.blockbuster.com<br />
<strong>BLOCKBUSTER</strong> Inc. (NYSE: BBI, BBI.B), is a leading global provider of in-home movie and game entertainment with over 6,000 stores<br />
throughout the Americas, Europe, Asia and Australia. The Company is one of the strongest and most recognizable entertainment<br />
brands in the world.<br />
<strong>BLOCKBUSTER</strong>'s stores are a ubiquitous neighborhood feature attracting nearly 47 million customers annually. Company-operated<br />
stores are open 365 days a year generally from 10 a.m. to midnight. Merchandise selection, quantity and formats are customized at<br />
the store level to meet the needs and preferences of local customers.<br />
As the media entertainment industry has evolved, so too has <strong>BLOCKBUSTER</strong>. The Company is no longer just a chain of video stores.<br />
While transforming and diversifying its store-base continues as a company priority, <strong>BLOCKBUSTER</strong> now offers convenient access to<br />
media entertainment any where and any way consumers want it – whether in stores, by mail, through vending / kiosks or digitally.<br />
<strong>BLOCKBUSTER</strong> is the only company able to provide convenient access to media entertainment across multiple channels, recognizing<br />
that the same customer may choose different ways to access media entertainment on different nights. Whether a customer selects<br />
traditional stores, by-mail, vending or digital, <strong>BLOCKBUSTER</strong> is uniquely positioned as the only provider to deliver entertainment<br />
content across all channels.<br />
On November 1, 2006, the Company introduced <strong>BLOCKBUSTER</strong> Total Access, a movie rental program that gives online customers<br />
the option of exchanging their DVDs through the mail or returning them to a nearby participating <strong>BLOCKBUSTER</strong>® store in exchange<br />
for free in-store movie rentals. With <strong>BLOCKBUSTER</strong> Total Access, customers no longer have to choose between renting online or<br />
renting in-store, and they never have to be without a movie. <strong>BLOCKBUSTER</strong> has the largest in-store presence of any company in the<br />
movie rental business, a growing online presence, and the capability -- currently, the only capability in the marketplace -- to integrate<br />
bricks-and-mortar with online.<br />
The Company continues to broaden its points of presence. In 2008 <strong>BLOCKBUSTER</strong> announced an alliance with NCR (NYSE: NCR) for<br />
vending, providing customers with a new and convenient option for accessing media entertainment. There are now over 2,000<br />
<strong>BLOCKBUSTER</strong> Express branded kiosks in the market today.<br />
Thinking beyond the box - in the first half of 2009 the Company announced strategic alliances with TiVo (NASDAQ: TIVO), Samsung<br />
and Motorola (NYSE: MOT). <strong>BLOCKBUSTER</strong> anticipates similar opportunities to position the Company as a leader in the distribution of<br />
digital entertainment.<br />
File Photo<br />
<strong>BLOCKBUSTER</strong> <strong>Video</strong><br />
315 Greenville Blvd. SE, Greenville, NC<br />
File Photo<br />
File Photo<br />
This information has been obtained from sources deemed reliable, however neither <strong>EXP</strong> <strong>Realty</strong> <strong>Advisors</strong>, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
<strong>BLOCKBUSTER</strong> | 1024 S Main St| Kernersville, NC<br />
Aerial Photograph<br />
Supercenter<br />
<strong>BLOCKBUSTER</strong> <strong>Video</strong><br />
315 Greenville Blvd. SE, Greenville, NC<br />
This information has been obtained from sources deemed reliable, however neither <strong>EXP</strong> <strong>Realty</strong> <strong>Advisors</strong>, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
<strong>BLOCKBUSTER</strong> | 1024 S Main St| Kernersville, NC<br />
Aerial Photograph<br />
Supercenter<br />
Countryside<br />
Bowling<br />
Lanes<br />
<strong>BLOCKBUSTER</strong> <strong>Video</strong><br />
315 Greenville Blvd. SE, Greenville, NC<br />
This information has been obtained from sources deemed reliable, however neither <strong>EXP</strong> <strong>Realty</strong> <strong>Advisors</strong>, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
<strong>BLOCKBUSTER</strong> | 1024 S Main St| Kernersville, NC<br />
Site Plan<br />
<strong>BLOCKBUSTER</strong> <strong>Video</strong><br />
315 Greenville Blvd. SE, Greenville, NC<br />
This information has been obtained from sources deemed reliable, however neither <strong>EXP</strong> <strong>Realty</strong> <strong>Advisors</strong>, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
<strong>BLOCKBUSTER</strong> | 1024 S Main St| Kernersville, NC<br />
Location Map<br />
<strong>BLOCKBUSTER</strong> <strong>Video</strong><br />
315 Greenville Blvd. SE, Greenville, NC<br />
This information has been obtained from sources deemed reliable, however neither <strong>EXP</strong> <strong>Realty</strong> <strong>Advisors</strong>, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
<strong>BLOCKBUSTER</strong> | 1024 S Main St| Kernersville, NC<br />
Demographic Snapshot<br />
Category 1-Mile 3-Mile 5-Mile<br />
Population:<br />
Total Population 4,138 33,301 59,947<br />
Male Population 47.3% 48.8% 49.0%<br />
Female Population 52.7% 51.2% 51.0%<br />
Median Age 41.3 38.7 38.6<br />
Population Density (per sq. mi.) 1,315.3 1,176.2 762.2<br />
Employees 2,445 16,314 25,645<br />
Establishments 203 1,389 2,079<br />
Income:<br />
Median HH Income $59,711 $60,916 $61,259<br />
Per Capita Income $27,315 $25,786 $24,699<br />
Average HH Income $63,821 $63,405 $61,905<br />
Households:<br />
Total Households 1,880 13,444 23,559<br />
Average Household Size 2.2 2.5 2.5<br />
Household Growth 1990 - 2000 21.8% 28.4% 26.0%<br />
Housing:<br />
Owner Occupied Housing Units 61.8% 62.6% 66.9%<br />
Renter Occupied Housing Units 26.6% 25.9% 22.2%<br />
Vacant Housing Units 11.6% 11.5% 10.9%<br />
<strong>BLOCKBUSTER</strong> <strong>Video</strong><br />
315 Greenville Blvd. SE, Greenville, NC<br />
This information has been obtained from sources deemed reliable, however neither <strong>EXP</strong> <strong>Realty</strong> <strong>Advisors</strong>, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.