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BLOCKBUSTER Video BLOCKBUSTER - EXP Realty Advisors

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<strong>BLOCKBUSTER</strong> | 903 Beckford Drive| Henderson, NC<br />

Subject Property<br />

Corporate Owned Store<br />

<strong>BLOCKBUSTER</strong> CLOSING WITHIN 12 MONTHS OF SUBJECT PROPERTY SALE<br />

25 Stand Alone Stores Available Throughout the Southeastern U.S.<br />

<strong>BLOCKBUSTER</strong> <strong>Video</strong><br />

315 Greenville 903 Beckford Blvd. Dr., SE, Henderson, Greenville, NC<br />

$400,000 | 4,800 SF ($83 PSF) | 0.84 Acres ($10 PSF)<br />

• Priced Well Below Replacement Cost | Significant Upside Potential<br />

• Flexibility: Re-Lease to a Single Tenant or Convert to a Multi-Tenant Building<br />

• Minimize Downtime: <strong>BLOCKBUSTER</strong> will Continue Operating for 6 - 12 Months from COE at Buyer’s Discretion<br />

• Strategic Location: Retail Corridor, Directly Off I-85 & Dabney Dr. (Traffic: 53,000+ Cars/Day)<br />

• Outparcel to Neighborhood Shopping Center – Market Place Cinema<br />

• Anchor Tenants in the Immediate Area Include: Wal-Mart, Lowes, Staples, Food Lion<br />

• Henderson, NC is Located 32-Miles+ North of Durham, NC & 17-Miles+ South of Virginia<br />

Exclusive Listing Agents: Bob Moorhead | Joe Caputo<br />

212.686.0079 | joe@exp1031.com | www.exp1031.com<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> | 903 Beckford Drive| Henderson, NC<br />

903 Beckford Drive, Henderson, North Carolina<br />

INTERSECTION OF DABNEY DR & BECKFORD DR<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 stand<br />

alone building currently owned and operated by <strong>BLOCKBUSTER</strong>. At buyer’s discretion, <strong>BLOCKBUSTER</strong> will<br />

continue to operate at this location for up to 12 months after the close of escrow date. Both Buyer and<br />

Seller will have the right to terminate the lease with 90 days written notice. This offering provides investors<br />

with the unique opportunity to purchase a stand alone building, priced well below replacement cost and<br />

the flexibility of leasing to a single tenant or converting the space to a multi-tenant layout.<br />

This location is being sold as a part of a 25 store offering which can be purchased individually or as a<br />

portfolio. For additional information on other available <strong>BLOCKBUSTER</strong> properties please visit<br />

www.exp1031.com.<br />

IMMEDIATE TRADE AREA<br />

The subject property is strategically located off of Interstate Highway-85 at Dabney Drive. Average traffic<br />

counts at the subject property are in excess of 53,000+ per day. The subject property sits on the southeast<br />

corner of Beckford Drive and Beckford and is anchored by Marketplace Cinema. Other tenants in the<br />

immediate area include Wal-Mart, Lowes, Staples, Food Lion, Wendy’s, Denny’s, Bojangles, Chick-Fil-A and<br />

many other regional and national retailers.<br />

HENDERSON, NC<br />

Located 32 miles north of the capital city of Raleigh and 17 miles south of the Virginia border, Henderson,<br />

North Carolina and is the county seat of Vance County. Kerr Lake, with over 850 miles of shoreline, is one of<br />

the largest and most beautiful lakes in the southeast and located in Vance County. Henderson is a rural<br />

town rich with history. Though Henderson has historically relied heavily on the tobacco, cotton and textile<br />

industries for jobs and economic growth, in recent years the retail market has been one of its major growth<br />

sectors. With its centralized location along Interstate 85 and U.S. 1, outstanding water supply, mild climate,<br />

excellent medical, recreational and educational facilities and stable work force, Henderson continues to be<br />

an attractive location to businesses, developers and individuals alike.<br />

The city has a population of 16,095 according to the 2000 census and has a total area of 8.2 square miles.<br />

OFFERING SUMMARY<br />

List Price: $400,000<br />

Building Area: 4,800 + SF<br />

Building Price / SF: $83 + PSF<br />

Land Area: 0.84 + Acres<br />

Land Price / SF: $10 + PSF<br />

Year Built: 1991<br />

Ownership: Fee Simple<br />

SHORT TERM LEASE – BUYER OPTION<br />

Tenant: <strong>BLOCKBUSTER</strong> Inc.<br />

Term: 6-12 Months*<br />

Rent: $28,800 / Year<br />

Rent / SF: $6 + PSF<br />

<strong>BLOCKBUSTER</strong> <strong>Video</strong><br />

* Property delivered vacant with 90 days notice<br />

315 Greenville Blvd. SE, Greenville, NC<br />

Subject Property<br />

COPYRIGHT © 2010. ALL USE, DISCLOSURE AND/OR REPRODUCTION NOT SPECIFICALLY AUTHORIZED IS PROHIBITED. ALL RIGHTS RESERVED. Retail Real Estate Group dba Retail Resource Group and <strong>EXP</strong> <strong>Realty</strong> <strong>Advisors</strong> (“Agent”) has presented this confidential Investment<br />

Memorandum to assist the recipient in evaluating the “Property” and it is intended for 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 preparation. No<br />

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. Agent disclaims all liabilities in connection with any inaccuracies or incompleteness. The Buyer should independently<br />

verify each item of information and have the same reviewed by its 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 upon request; (b) the Buyer shall<br />

not contact any property manager, employee or tenant of the Property regarding the enclosed materials or the Property, without prior approval of Agent; and (c) the Buyer understands and agrees that Agent represents the seller and not the Buyer. Neither the seller nor Agent<br />

shall have any obligation to pay any commission, 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 Property after first obtaining a signed<br />

confidentiality agreement from such persons to keep such information confidential. The Buyer shall defend, indemnify and hold harmless the seller, Agent and its affiliates from and against any claims, demands, damages, liabilities, costs or expenses, including reasonable attorneys’<br />

fees, relating to any claim for a commission, This finder’s information fee or has other been compensation obtained from by any sources broker or deemed other person reliable, dealing however with the neither Buyer. <strong>EXP</strong> The <strong>Realty</strong> Property <strong>Advisors</strong>, is being Inc. sold nor on an Retail “as-is, Resource where-is” Group and “with guarantee, all faults” warranty basis. or represent its accuracy.


<strong>BLOCKBUSTER</strong> | 903 Beckford Drive| Henderson, NC<br />

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> | 903 Beckford Drive| Henderson, NC<br />

Subject Property<br />

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> | 903 Beckford Drive| Henderson, 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> | 903 Beckford Drive| Henderson, NC<br />

Aerial Photograph<br />

Maria Parham<br />

Medical<br />

Center<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> | 903 Beckford Drive| Henderson, NC<br />

Location Map<br />

32 Miles to<br />

Durham, NC<br />

17 Miles to<br />

Virginia Border<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> | 903 Beckford Drive| Henderson, NC<br />

Demographic Snapshot<br />

Category 1-Mile 3-Mile 5-Mile<br />

Population:<br />

Total Population 5,763 19,881 27,345<br />

Male Population 45.6% 45.1% 45.9%<br />

Female Population 54.4% 54.9% 54.1%<br />

Median Age 35.3 38.0 37.8<br />

Population Density (per sq. mi.) 1,831.7 702.2 347.7<br />

Employees 3,473 11,483 13,740<br />

Establishments 369 1,103 1,287<br />

Income:<br />

Median HH Income $24,265 $30,567 $34,974<br />

Per Capita Income $13,908 $18,732 $20,102<br />

Average HH Income $32,760 $44,656 $48,986<br />

Households:<br />

Total Households 2,217 8,100 10,940<br />

Average Household Size 2.5 2.4 2.4<br />

Household Growth 1990 - 2000 -4.1% 1.5% 7.2%<br />

Housing:<br />

Owner Occupied Housing Units 32.2% 46.1% 52.8%<br />

Renter Occupied Housing Units 57.4% 44.9% 37.9%<br />

Vacant Housing Units 10.4% 9.0% 9.3%<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.

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