total 58,035 sf · 2017. 8. 24. · daniel mcphail property features • two well-maintained...
Post on 28-Sep-2020
2 Views
Preview:
TRANSCRIPT
Memphis, Tennessee 38116
For more information:
901 526 3100 • bcaliff@saigcompany.comBrian Califf, CCIM
901 526 3100 • dmcphail@saigcompany.comDaniel McPhail
Property Features• Memphis, TN Single Tenant Office Portfolio
• Portfolio 100% leased to Performance Properties
• Annual in place Rent well below market at $5.96 per footNNN
• Priced significantly below replacement cost at $58 perfoot
• 10.2% cap rate on in place income
• Performance Properties operates executive suites out ofall locations and is willing to execute a new 5 year leaseat closing
• Absolute NNN lease structure
Single Tenant Office Portfolio
NAI Saig Company5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120901 526 3100
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OFTHE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS,OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE ORFINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONSIMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THECONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED. saigcompany.com
For Sale
Office InvestmentTotal 58,035 SF
NAI Saig Company | 5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120 | 901 526 3100saigcompany.com
Tenant Information
Performance Properties is a multifaceted real estate companythat has successfully operated executive office suites for the past15 years. They have a track record of success operating at thesubject properties. They are willing to execute and personallyguarantee a new five year lease at closing based on the enclosedfinancial terms.
Location Overview & Investment Highlights
Positioned in the southeast and southwest office submarkets. Allbuildings are within 5 miles of the Memphis InternationalAirport. The buildings are in close proximity near the EastMemphis office submarket. All properties are located in densecommercial areas with easy access to interstate systems
New 5 year lease termStable cash flowLow basis in the buildings
Property Summary
For Sale
Office Investment
Sale Price: $3,400,000
Cap Rate: 10.2%
NOI: $356,000
# Of Tenants 1 tenant for all 4locations
Lot Size: 6.6 Total Acres
Building Size: 58,035 Total SF
Building Class: B
Year Built: Between 1985 - 1991
TenantName PerformanceProperties,LLC
LeaseGuaranty PerformancePropertiesownerwillpersonallyguaranteethelease
TotalPortfolioSquareFootage 58,035
LeaseTerm 5Years–ExecutedatClosing
AnnualNetOperatingIncome $346,000.00
NetRentPerFoot $5.96
SalePrice $3,400,000.00
PricePerFoot $58.59
CapRate 10.2%PropertyAddresses SquareFootage3145&3155HickoryHillRoad 34,3845395&5405FoxPlazaDrive 14,4006089AppleTreeDrive 4,2845090Millbranch 4,967
NAI Saig Company | 5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120 | 901 526 3100saigcompany.com
For Sale
Income Analysis
Memphis, Tennessee 38116
For more information:
901 526 3100 • bcaliff@saigcompany.comBrian Califf, CCIM
901 526 3100 • dmcphail@saigcompany.comDaniel McPhail
Property Features
• Well maintained multi tenant office building
• 4,284 SF Free standing building
• Lot size: 0.4 acres
• Recently renovated
• Conveniently located in close proximity to Bill Morris
Parkway off of the Ridgeway Rd exit.
• Near the intersection of Ridgeway Road and Mt Moriah
Road
6089 Apple Tree Rd
NAI Saig Company5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120901 526 3100
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OFTHE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS,OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE ORFINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONSIMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THECONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED. saigcompany.com
For Sale
Office Building4,284 SF
NAI Saig Company | 5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120 | 901 526 3100saigcompany.com
For Sale
6089 Apple Tree
Memphis, Tennessee 38116
For more information:
901 526 3100 • bcaliff@saigcompany.comBrian Califf, CCIM
901 526 3100 • dmcphail@saigcompany.comDaniel McPhail
Property Features
• Two well-maintained adjoining multi tenant office
buildings for sale
• 34,384 Total SF
• Lot size: 3.4 total acres
• Recently updated roofs
• Two, two-story buildings that are elevator - served
• Located close to Bill Morris Parkway and near the
intersection of Hickory Hill Road and Knight Arnold Road
3145 & 3155 Hickory Hill Rd
NAI Saig Company5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120901 526 3100
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OFTHE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS,OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE ORFINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONSIMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THECONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED. saigcompany.com
For Sale
Office Buildings34,384 Total SF
NAI Saig Company | 5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120 | 901 526 3100saigcompany.com
For Sale
3145/3153 Hickory Hill Rd
Memphis, Tennessee 38116
For more information:
901 526 3100 • bcaliff@saigcompany.comBrian Califf, CCIM
901 526 3100 • dmcphail@saigcompany.comDaniel McPhail
Property Features
• Two well-maintained adjoining multi tenant office
buildings
• 14,400 Total SF
• Lot size: 1.3 total acres
• Recently updated roofs
• Conveniently located near I-240 and Bill Morris Parkway
• Near intersection of Mt. Moriah Road and S Mendenhall
Road
5395 & 5404 Fox Plaza Dr
NAI Saig Company5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120901 526 3100
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OFTHE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS,OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE ORFINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONSIMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THECONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED. saigcompany.com
For Sale
Office Buildings14,400 Total SF
NAI Saig Company | 5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120 | 901 526 3100saigcompany.com
For Sale
5395/5405 Fox Plaza Dr
Memphis, Tennessee 38116
For more information:
901 526 3100 • bcaliff@saigcompany.comBrian Califf, CCIM
901 526 3100 • dmcphail@saigcompany.comDaniel McPhail
Property Features
• Updated and well-maintained office building
• 4,967 SF free standing building
• Lot size: 1.5 acres
• Conveniently located close to I-55
• Near the intersection of Millbranch Road and E Holmes
Road.
5090 Millbranch
NAI Saig Company5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120901 526 3100
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OFTHE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS,OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE ORFINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONSIMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THECONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED. saigcompany.com
For Sale
Office Building4,967 SF
NAI Saig Company | 5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120 | 901 526 3100saigcompany.com
For Sale
5090 Millbranch
Memphis Market Overview • Perched on the buffs above the Mississippi River, Memphis occupies the southwest corner of Tennessee.
Memphis is the birthplace of Rock n’ Roll, the home of the blues and the home to three fortune 500 companies: Federal Express Corporation with 32,000 employees, International Paper, and Autozone.
• Entertainment and nightlife is a dominant attraction for the Memphis area for tourists and residents. Residents can experience an NBA game with the Memphis Grizzlies at the FedEx Forum, a Redbirds AAA baseball game at Autozone Park, a Broadway show at the historic Orpheum Theater, or experience the local music scene at the numerous clubs and restaurants of the Downtown Beale Street Entertainment District. Visitors can also stay in one of Memphis’ premiere Four Diamond hotels, such as the historic Peabody Hotel, the Madison Hotel, and the River Inn at Harbor Town.
• As “America’s Distribution Center,: Memphis is a regional and national supply chain and logistics hub due to its central location and excellent transportation network that includes seven federal highways and two interstate systems. The city is hoe to the worlds second largest air cargo airport, the second largest port on the Mississippi River and the third largest rail center in the US. Interstate 69, a new transportation artery running from Canada through Memphis to Mexico, will further improve the Memphis MSA transportation infrastructure.
For Sale Downtown Office Building
NAI Saig Company | 5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120 | 901 526 3100saigcompany.com
For Sale
Value Add Retail Investment
NAI Saig Company | 5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120 | 901 526 3100saigcompany.com
For Sale
Office Investment
Economic Strength and Stability • The City of Memphis is the headquarters location of several Fortune
500/1000 companies. Including FedEx, AutoZone, International Paper, and ServiceMaster. Wallet Hub ranked Memphis 5th in their ”2014 Best Cities to Start a Business” listing.
• Memphis is home to nonprofit world leaders, including internationally renowned childhood disease center, St. Jude Children’s Research Hospital and Ducks Unlimited.
Market at a Glance
Major Population Center• The Memphis MSA is an eight0county area ranked as
the nation’s 41st largest with an estimated population of 1.3 million (U.S.. Census Bureau, 2013 Estimates)
• While its amenities are comparable to other major cities in the US, the cost of living in Memphis is nearly 14% below the national metro average. Forbes recognized Memphis as the second most affordable city in the nation.
• Forty-two (42%) of the United States population lives within one-day drive of Memphis and all forty-eight (48) contiguous states are reachable within three days.
Key Transportation and Logistics Hub• As one of only four cities in the US that possess 5 Class I rail
systems, Memphis offers prominent rail carriers a strategic location for their intermodal facilities based upon its proximity to the majority of the nation’s population. Memphis was ranked as the “Top Logistics, Distribution, and Shipping Hub in the US.”
• Memphis s the 3rd largest rail center in the US behind Chicago and St. Louis.
• Memphis International Airport serves nearly 10 million passengers a year with more than 80 passenger flights daily, with direct service to 40 destinations. The airport ships over 3.5 million metric tons of cargo per year, garnering the title of the world’s busiest cargo airport in North America for 22 years.
NAI Saig Company | 5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120 | 901 526 3100saigcompany.com
For Sale
Value Add Retail Investment
NAI Saig Company | 5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120 | 901 526 3100saigcompany.com
For Sale
Office Investment
Memphis Businesses • The central geographic location of the city combined with its competitive tax structure allows Memphis to
draw quality businesses. Chief Executive Group named Tennessee the “4th Best State for Business 2012.” FedEx Corporation, the city’s largest employer with 32,000 employees, joins other Fortune 500 Companies currently headquartered in the city: International Paper and Autozone. Memphis’ corporate citizens include world-renowned companies:
• ServiceMaster (Global Headquarters)• First Tennessee (World HQ)• Hilton Hotels (Divisions HQ) • Hunter Fan (World HQ)• Nike (Major Operations)• Wright Medical Technologies (World HQ)• Youth Villages (World HQ)
(FedEx Global Headquarters)
(AutoZone Headquarters)
(First Tennessee World HQ)
NAI Saig Company | 5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120 | 901 526 3100saigcompany.com
For Sale
Value Add Retail Investment
NAI Saig Company | 5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120 | 901 526 3100saigcompany.com
For Sale
Office Investment
top related