Big 5 Sporting Goods. Northern California. Just opened major commercial street public company-rent increases

Transcription

1 Big 5 Sporting Goods Northern California Just opened major commercial street public company-rent increases For more info on this opportunity please contact: Rick Sanner rsanner@capitalpacific.com (415) CA BRE# Bob Sanner bsanner@capitalpacific.com (415) CA BRE# US Highway 101, Crescent City, CA John Andreini Chris Kostanecki jandreini@capitalpacific.com (415) CA BRE# Capital Pacific collaborates. Click here to meet the rest of our San Francisco team. ck@capitalpacific.com (415) CA BRE#

2 Big 5 sporting goods is a new, freestanding store in northern california Investment Highlights PRICE: $2,572,000 CAP: 6.0% RENTABLE SF ,000 SF LAND AREA Acre LEASE TYPE NN YEAR BUILT.... Late 2014 Located just north of downtown Crescent City, this is the only Big 5 store within a 60-mile radius. It is located on Highway 101, a major commercial street. In most parts of California, highway 101 is a limited-access freeway. However, going through Crescent City it is a five-lane commercial street with an unrestricted left turn into the site. Public company tenant Big 5 (NASDAQ: BGFV) has revenue of nearly $1 billion California-based, stable tenant The company opened its first store in It is headquartered in the Los Angeles area and, of the 62 stores opened in the last five years, 44% were in California. There are a total of 439 stores, about 49% of which are in California. Twenty years of options 7-year primary lease term with twenty years of options Completed and opened in December, 2014 Big 5 sporting goods 2

3 Income & Expense PRICE $2,572,000 Capitalization Rate: 6.0% Total Rentable Area (SF): 10,000 Lot Size (Acres): 1.00 STABILIZED INCOME Per Square Foot Scheduled Rent $15.43 $154,308 Effective Gross Income $15.43 $154,308 LESS Per Square Foot Taxes Paid by Tenant $0.00 Insurance Paid by Tenant $0.00 Total Operating Expenses $0.00 EQUALS NET OPERATING INCOME $154,308 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. Big 5 sporting goods 3

4 Rent Roll TENANT INFO LEASE TERMS RENT SUMMARY Tenant Name Sq. Ft. Term Current Rent Monthly Rent This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. Yearly Rent Monthly Rent/FT Yearly Rent/FT Big 5 10,000 12/15/2014 1/31/2020 $154,308 $12,859 $154,308 $1.29 $ /1/2020 1/31/2022 $14,145 $169,740 $1.41 $16.98 Option 1 2/1/2022 1/31/2025 $14,145 $169,740 $1.41 $ /1/2025 1/31/2027 $15,559 $186,708 $1.56 $18.67 Option 2 2/1/2027 1/31/2030 $15,559 $186,708 $1.56 $ /1/2030 1/31/2032 $17,115 $205,380 $1.71 $20.54 Option 3 2/1/2032 1/31/2035 $17,115 $205,380 $1.71 $ /1/2035 1/31/2037 $18,826 $225,912 $1.88 $22.59 Option 4 2/1/2037 1/31/2040 $18,826 $225,912 $1.88 $ /1/2040 1/31/2042 $20,709 $248,508 $2.07 $24.85 Totals: 9,999 $154,308 $12,859 $154,308 $12, $15.43 Big 5 sporting goods 4

5 Northcres t Drive desirable freeway accesibility Subject property is located on Highway 101, a five-way commercial street, with an unrestricted left turn into the site Mary Peacock Elementary DEL NORTE COUNTY AIRPORT 101 e riv D ay rkw Pa W Washington Boulevard E Washington Boulevard Del Norte County High School Castle Rock Charter School Inyo Street 101 Pacific Avenue Crescent Elk Elementary Joe Hamilton Elementary t ee W EUREKA tr hs 9t Elk Valley Road t ee Fro n tr ts 101

6 Big 5 Sporting Goods Big 5 Sporting goods is one of america s top retailers of name brand sporting goods and accessories About Big 5 Sporting Goods With 439 locations in 12 western states and about 9,500 employees, Big 5 Sporting Goods (NASDAQ: BGFV) is one of America s top retailers of name brand sporting goods and accessories. The standard store is approximately 10,000-11,000 square feet and sells a mix of sporting goods including athletic shoes, apparel, and outdoor and athletic equipment. The net worth is about $194 million sales were $978 million. Net income for 2014 is not yet reported but will be about $15-$17 million. NUMBER OF EMPLOYEES 9, REVENUE $977.9 Million NUMBER OF LOCATIONS 439 Big 5 sporting goods 6

7 Regional Map Crescent City CA Location Crescent City Big 5 Sporting goods Big 5 sporting goods 7

8 Location & Demos Crescent City, CA Overview Named for the crescent-shaped stretch of sandy beach south of the city, Crescent City is the county seat of Del Norte County and is located just 20 miles south of the Oregon-California border. The population of the Crescent City area is about 18,000. Due to the richness of the local Pacific Ocean waters and the ease of access, Crescent City Harbor serves as home port for numerous commercial fishing vessels. The harbor is also home to multiple fishing and non-fishing related businesses and harbor government offices. Crescent City is a popular tourist destination due to its coastal location and abundance of beautiful redwood trees. Crescent City is also home to a satellite campus of College of the Redwoods, a two-year college based in Humbolt County. A few miles north of downtown is Pelican Bay State Prison (PBSP), with state employees and an annual budget approaching $200 million. Crescent city also benefits form non-stop commercial air service to Crescent City Airport (CEC) from San Francisco on United Express. Population 1-Mile 3-Mile 5-Mile ,902 16,141 17, Household incomes 1-Mile 3-Mile 5-Mile Average $38,828 $49,030 $50,201 Median $26,374 $33,335 $33,997 Top Employers in Crescent City Walmart Del Norte County Unified School District College of the Redwoods Home Depot Safeway Pelican Bay State Prison Big 5 sporting goods 8

9 A unique HUMAN RESULTS-DRIVEN client experience The capital pacific experience - our daily commitment to our clients [ ] Rick Sanner rsanner@capitalpacific.com (415) CA BRE# John Andreini jandreini@capitalpacific.com (415) CA BRE# Bob Sanner bsanner@capitalpacific.com (415) CA BRE# Chris Kostanecki ck@capitalpacific.com (415) CA BRE# Copyright 2015 [Capital Pacific Real Estate Brokerage Company]