appleton entertainment shops...each luv 2 play locations offers an indoor playground, toddler area,...

OFFERING MEMORANDUM

APPLETON ENTERTAINMENT SHOPS4938 INTEGRITY WAY, APPLETON, WISCONSIN 54913

The information in this package 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. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2013 Marcus Millichap. ACT ID Z0070501

SUBJECT PROPERTY

FOX RIVER MALL

41

96

125

15

MARCUS & MILLICHAP 2 // Appleton Entertainment Shops

Rent RollLessee Information as of January 2020

SUITE TENANT NAMEAPPROX.

RENTABLE SFPERCENT

OCCUPANCYEST. LEASE

COMMENCEMENTEST. LEASE EXPIRATION

APPROX.RENT PSF

BASE RENT PER MONTH

ANNUAL RENT

LEASE TYPE

RENTAL INCREASES

RENEWAL OPTIONS

A Luv2Play 13,606 29.0% 5/14/2018 5/31/2033 $9.00 $10,204.50 $122,454.00 NNN 10.8% Every 5 Years3, 5 Year Options

B Altitude Trampoline Park

33,247 71.0% 10/1/2019 9/30/2029 $9.50 $26,320.58 $315,847.00 NNN4.2% In Year 6; 10%

In Each Option4, 5 Year Options

Total SF 46,853 100% Monthly Income $36,525

Occupied SF 46,853 100% Annual Income $438,301

Available SF 0 0% Average $9.35


Total Square Feet Per Leases 46,853

Lot Size 9.63 Acres

Year Built / Renovatd 1988 / 2019

Occupancy as of January 2020 100%

INCOME

Scheduled Base Rent $438,301

Estimated Total Potential Base Rent $438,301

Plus Expense Reimbursements $130,850

EFFECTIVE GROSS INCOME $569,151

ESTIMATED OPERATING EXPENSES

CAM Expense $35,000 $0.75

Insurance $4,700 $0.10

Property Taxes $78,000 $1.66

Management Fee (3% Base Rent) $13,150 $0.28

TOTAL OPERATING EXPENSES $130,850 $2.79

NET OPERATING INCOME $438,301

OFFERING PRICE $5,480,000

CAPITALIZATION RATE 8.00%

PRICE PER SF $116.96

Income & Expense Summary


FOX RIVER MALL

9,600 CPDN CASALOMA DR

SUBJECT PROPERTY


SUBJECT PROPERTY

96

27,000 CPDHIGHWAY 96


Population

2023 Projection 2,527 37,181 113,953

2018 Estimate 2,054 35,370 109,650

Growth 2018 – 2023 23.07% 5.12% 3.92%

Households

2023 Projection 1,435 16,035 47,804

2018 Estimate 1,107 14,977 45,338

Growth 2018 – 2023 29.68% 7.06% 5.44%

Income

2018 Est. Average Household Income

$82,966 $79,566 $77,089

2018 Est. MedianHousehold Income

$65,611 $64,639 $60,600

2018 Est. Per Capita Income

$44,769 $33,786 $32,197

DEMOGRAPHICS 1-mile 3-miles 5-miles

INVESTMENT HIGHLIGHTS

» 100% Leased to Luv 2 Play and Altitude Trampoline Park

» Triple-Net (NNN) Leases with 9 and 13 Years Remaining on Lease Terms

» 109,650 Residents in Growing Appleton Trade Area

» Households Projected to Increase Nearly 30% in Immediate Area by 2023

» Shadow-Anchored by Walmart, Menards, TJ Maxx, HomeGoods, and La-Z-Boy

» Located within the Primary Retail Corridor in Appleton - Tenants Include Walmart, Sam's

Club, Dick's Sporting Goods, Best Buy, and More

» Over $2 Million in Recent Capital and Tenant Improvements

» Excellent Visibility with Frontage Along Highway 96 (Wisconsin Avenue), 27,000 Cars/Day

» Directly Across from Fox River Mall, a Super-Regional Shopping Center Anchored by

JCPenney, Macy's, and Target

» Average Household Income Exceeds $82K within a 1-Mile Radius

Property Description


Founded in 2012, Altitude is the fastest growing trampoline park company in

the world. With parks opening on three separate continents, Altitude Tram-

poline Park has become the industry leader in experience for both visitors

and potential park owners. Altitude's trampoline parks offer fun and exercise

for people of all ages. Facilities can be used for activities such as jumping,

dodgeball, fitness classes, birthday parties, and group events.

Appleton, Wisconsin's Altitude Trampoline Park has over 30,000 square feet

of total space. The park features high energy equipment such as a ninja

course, warped wall, ropes course with double zip line, foam pit, stunt jump,

extreme dodgeball, kids court, and giant soft play.

Luv 2 Play operates indoor playgrounds across multiple states including Ari-

zona, California, Florida, Illinois, Louisiana, New Hampshire, Texas, Virginia,

and Wisconsin, as well as internationally in Canada. Each Luv 2 Play locations

offers an indoor playground, toddler area, baby area, soft climbing wall, eat-

ing area, arcade games, party area, build area, pretend play, and a relax area,

ensuring that children of all ages will enjoy spending the day at Luv 2 Play.

The ultimate goal of Luv 2 Play is to become the household name of indoor

play. With that goal in mind, Luv 2 Play set out to create an International Fran-

chise Opportunity through their indoor playgrounds. The company assists its

partners in location selection, lease negotiations, staff training, complete de-

sign and decor and other miscellaneous areas of support. Luv 2 Play has

access to and connections with quality companies that help bring the most

cutting edge and innovative attractions to each location.

Tenant Overviews

Altitude Trampoline Park Private Southlake, Texas +/-130 altitudetrampolinepark.com

Company Company Type Headquarters Locations Website

Luv 2 Play Private Surprise, Arizona +/- 39 www.luv2play.com

Company Company Type Headquarters Locations Website


Appleton spans Outagamie, Calumet, and Winnebago counties in the state of Wis-

consin. One of the Fox Cities, it is situated on the Fox River, 30 miles southwest

of Green Bay and 100 miles north of Milwaukee. The county seat of Outagamie

County, the city's estimated population is 74,526 residents. Appleton is the princi-

pal city of the Appleton, Wisconsin Metropolitan Statistical Area, which is included

in the Appleton-Oshkosh-Neenah, Wisconsin Combined Statistical Area.

Appleton serves as the heart of the Fox River Valley and is home to the Fox Cities

Exhibition Center, Fox Cities Performing Arts Center, Fox River Mall, Neuroscience

Group Field at Fox Cities Stadium, Appleton International Airport, and the Val-

ley's two major hospitals: St. Elizabeth Hospital and ThedaCare Regional Medical

Center-Appleton (better known as Appleton Medical Center). The city also hosts

numerous regional events such as its Flag Day parade, Memorial Day parade,

Christmas parade, Oktoberfest, Mile of Music, and more.

The Fox Cities region is one of the largest, fastest growing urban centers in Wis-

consin with a population of more than 300,000. With proximity to major markets

such as Milwaukee, Chicago, and Minneapolis-St. Paul, businesses in the region

can reach a larger customer base within a short shipping distance. The region is

home to notable school systems, colleges and healthcare systems, and is known

across the state as a shopping destination. The region is also home to a diverse

economy represented by the paper, technology, manufacturing, retail, service and

electronic industries. Major employers include ThedaCare, Affinity Health System,

Kimberly-Clark corp., Thrivent Financial, and Expera Specialty Solutions Inc.

3 Milesto Appleton

International Airport

4 Milesto Downtown Appleton

20 Milesto University of

Wisconsin - Oshkosh

42 Milesto University of

Wisconsin - Green Bay

Location Overview

SUBJECT PROPERTY


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NET LEASED DISCLAIMERMarcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:By accepting this Marketing Brochure, you agree to treat the information contained herein regarding the lease terms as confidential and proprietary and to only use such information to evaluate a potential purchase of this net leased property.

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors.

Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs. Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

CONFIDENTIALITY AGREEMENTThe 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 Marcus & Millichap and it should not be made available to any other person or entity without the written consent of Marcus & Millichap. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to Marcus & Millichap.

This offering memorandum has been prepared to provide summary, unverified financial and physical 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. Marcus & Millichap has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

[ exclusively listed by ]Jamie A. MedressSenior Managing Director602 687 [email protected]

Chris N. LindFirst Vice President 602 687 [email protected]

Zack HouseAssociate Advisor 602 687 [email protected]

Mark J. RubleSenior Managing Director602 687 [email protected]

Offices Nationwidewww.marcusmillichap.com

Todd LindblomBroker of RecordLicense #: 56163-90

appleton entertainment shops...each luv 2 play locations offers an indoor playground, toddler area,...

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