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CLARKSVILLE, TN
Clarksville SangoShopping Center
OFFERING MEMORANDUM
CONFIDENTIALITY AND DISCLAIMER
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified 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, PCB's or asbestos, the compliance with 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 Marketing Brochure 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.
CLARKSVILLE, TN
Clarksville Sango Shopping Center
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOURMARCUS & MILLICHAP AGENT FOR MORE DETAILS.
NON-ENDORSEMENT NOTICE
Section 1 PRICING AND FINANCIAL ANALYSIS
Section 2 PROPERTY DESCRIPTION
Section 3 RECENT SALES
Section 4 ON MARKET COMPARABLES
Section 5 MARKET OVERVIEW
Section 6 DEMOGRAPHIC ANALYSIS
TABLE OF CONTENTS
Clarksville Sango Shopping CenterCLARKSVILLE, TN
Clarksville Sango Shopping CenterCLARKSVILLE, TN
PRICING AND FINANCIAL ANALYSIS
Price $1,090,000
Down Payment 25% $272,500
Price per Square Foot (GLA) $218.00
Gross Leasable Area (GLA) 5,000
Year Built 2017
Lot Size 1.44 Acres
Parking 20
VITAL DATA
CAP Rate - Current 7.05%
Net Operating Income - Current $76,840
Net Cash Flow After Debt Service - Current $23,314
Total Return - Current 15.02% / $40,926
CAP Rate - Pro Forma 8.97%
Net Operating Income - Pro Forma $97,772
Net Cash Flow After Debt Service - Pro Forma $29,238
Total Return - Pro Forma 19.08% / $52,000
1
Major Tenants
PRICING AND FINANCIAL ANALYSIS
Tenant Name
Clarksville Sango Shopping CenterCLARKSVILLE, TN
Major Employers
Employer# of
Employees
Demographics
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
1-Mile 3-Mile 5-Mile
2012 Population
2017 Population
2012 Households
2017 Households
Median HH Income
Per Capita Income
Average HH Income
OFFERING SUMMARY
2
PRICING AND FINANCIAL ANALYSIS
Clarksville Sango Shopping CenterCLARKSVILLE, TN
Existing Financing
Loan Type Free and Clear
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
Proposed Financing
First Trust Deed
Loan Amount $817,500
Loan Type All Cash
Interest Rate 4.5%
Amortization 25 Years
Loan to Value 75/25
Debt Coverage Ratio 1.45
FINANCING
3
W. Smith Properties : 24.21%
Farmers Insurance : 25.54%
PMI Clarksville: 24.91%
McCall Contracting : 25.34%
PRICING AND FINANCIAL ANALYSIS
Comments
Due to redelopment of property from land to shopping center, new assessments for real estate taxes have not posted.
Estimates given from Montgomery County Property Assessors Office.
Property Insurance listed is part of Owner's portfolio premium.
Clarksville Sango Shopping CenterCLARKSVILLE, TN
Current Per SF Pro Forma Per SF
Real Estate Taxes $7,400 $1.48 $7,400 $1.48
Insurance $2,500 $0.50 $2,500 $0.50
CAM
Utilities $528 $0.11 $528 $0.11
Contract Services $1,800 $0.36 $1,800 $0.36
TOTAL CAM $2,328 $0.47 $2,328 $0.47
Management Fee (% of EGI) $2,297 $0.46
Reserves / Replacements $500 $0.10
TOTAL EXPENSES $15,025 $3.00 $12,228 $2.45
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
Tenants (% OF GLA)
EXPENSES
4
PRICING AND FINANCIAL ANALYSIS
Clarksville Sango Shopping CenterCLARKSVILLE, TN
Current Per SF Pro Forma Per SF
Base Rent
Occupied Space $94,706 $18.94 $110,000 $22.00
GROSS POTENTIAL RENT $94,706 $18.94 $110,000 $22.00
GROSS POTENTIAL INCOME $94,706 $18.94 $110,000 $22.00
Vacancy/Collection Allowance (% of GPR) 3% / $2,841 $0.57
EFFECTIVE GROSS INCOME $91,865 $18.37 $110,000 $22.00
Total Expenses $15,025 $3.00 $12,228 $2.45
NET OPERATING INCOME $76,840 $15.37 $97,772 $19.55
Reserves / Replacements $500 $0.10
NET CASH FLOW BEFORE DEBT SERVICE $76,340 $15.27 $97,772 $19.55
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
Gross Leasable Area (GLA) 5,000 SF
INCOME & EXPENSES
5
PRICING AND FINANCIAL ANALYSIS
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
TENANT SUMMARY
Suite Tenant GLA % of
GLA
Lease
Commence
Lease
Expire
Annual
Rent
Rent/
SF
Changes
On
Changes
To
Expense
Reimbs.
Other:
Options/
% Rent
Lease
Type
100 PMI Clarksville 1,241 24.82% 2/1/17 1/31/22 $22,338.00 $18.00 7/1/2019 $27,302.00 $0.00 Negotiable Net
200 W. Smith Properties 1,206 24.12% 2/1/17 1/31/22 $21,708.00 $18.00 7/1/2019 $26,532.00 $0.00 Negotiable Net
300 Farmers Insurance 1,272 25.44% 1/1/17 12/31/21 $22,896.00 $18.00 7/1/2019 $27,984.00 $0.00 Negotiable Net
400 McCall Contracting 1,262 25.24% 9/1/2017 8/31/22 $27,764.00 $22.00 $0.00 Negotiable Net
TOTAL VACANT
TOTAL OCCUPIED 4,981 99.62% $94,706.00 $81,818.00
TOTAL 4,981 99.62% $94,706.00 $81,818.00
6
PRICING AND FINANCIAL ANALYSIS
Clarksville Sango Shopping CenterCLARKSVILLE, TN
For The Year Beginning Year 1
Jan 2017
Year 2
Jan 2018
Year 3
Jan 2019
Year 4
Jan 2020
Year 5
Jan 2021
Year 6
Jan 2022
Year 7
Jan 2023
Year 8
Jan 2024
Year 9
Jan 2025
Year 10
Jan 2026
Tenant(s) Name Farmers
Insurance
PMI
Clarksville
W. Smith
Properties
McCall
Contracting
Total Number of Tenants 1 3
Total Square Feet 1,272 3,709
Total Percentage 25.4% 74.2%
Cumulative Percentage 25.4% 99.6%
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
Percentage of SF Expiring Number of Tenants Expiring Cumulative % of SF Expiring
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Tota
l Pro
ject
Squ
are
Foo
tage
0
1
2
3
Num
ber
of T
enan
tsJan 2017
0%Jan 2018
0%Jan 2019
0%Jan 2020
0%Jan 2021
25%Jan 2022
74%Jan 2023
0%Jan 2024
0%Jan 2025
0%Jan 2026
0%
LEASE EXPIRATION SUMMARY
Any projections, opinions, assumptions or estimates used here within are for example purposes only and do not represent the current or future performance of the property.
Tenant Name: Farmers Insurance - Wendy Stack
Lease Commencement: 7/1/2017
Lease Expiration: 6/30/2022
Gross Leasable Area (GLA): 1,272
Original Term: Five Years
Option Term: Negotiable
Pro Rata Share of Project: 25%
Headquartered: Woodland Hills, California
No. of Locations:
Web Site: Farmers.com
This Farmers Insurance Agency is owned and operated by Wendy Stack, who serves the Sango area of the Clarksville-
Montgomery County community. Services provided include home and auto insurance.
7
PRICING AND FINANCIAL ANALYSIS
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
TENANT & LEASE SUMMARY
2421 Highway 41A
Clarksville, TN 37043
Price $1,090,000
Down Payment 25% $272,500
Gross Leasable Area (GLA) 5,000
Price/SF $218.00
CAP Rate - Current 7.05%
CAP Rate - Pro Forma 8.97%
Lot Size 1.44 Acres
Year Built 2017
FIRST TRUST DEED
Loan Amount $817,500
Loan Type All Cash
Interest Rate 4.5%
Amortization 25 Years
Loan to Value 75/25
Annualized Operating Data
Income Current Pro Forma
Base Rent
Occupied Space $94,706 $110,000
Gross Potential Rent $94,706 $110,000
Gross Potential Income $94,706 $110,000
Vacancy/Collection Allowance 3% / $2,841
Effective Gross Income $91,865 $110,000
Total Expenses $15,025 $12,228
Net Operating Income $76,840 $97,772
Reserves / Replacements $500
Net Cash Flow Before Debt Service $76,340 $97,772
Debt Service $53,026 $68,534
Debt Coverage Ratio 1.45 1.43
Net Cash Flow After Debt Service 8.56% / $23,314 10.73% / $29,238
Principal Reduction $17,612 $22,762
Total Return 15.02% / $40,926 19.08% / $52,000
8
Location
PRICING AND FINANCIAL ANALYSIS
Financing
Clarksville Sango Shopping CenterCLARKSVILLE, TN
ExpensesReal Estate Taxes $7,400 $7,400
Insurance $2,500 $2,500
CAM
Utilities $528 $528
Contract Services $1,800 $1,800
TOTAL CAM $2,328 $2,328
Management Fee (% of EGI) 2.5% / $2,297
Reserves / Replacements $500
TOTAL EXPENSES $15,025 $12,228
EXPENSES/SF $3.00 $2.45
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
Loan information is time sensitive and subject to
change. Contact your local Marcus & Millichap Capital
Corporation representative.
FINANCIAL OVERVIEW
Clarksville Sango Shopping CenterCLARKSVILLE, TN
PROPERTY DESCRIPTION
Through large economic growth, Clarksville has become Tennessee's fifth largest city. In addition to the nearby presence of Ft. Campbell Army Base (estimated at 180,000 troops), Clarksville has recently landed such large companies as Google (regional fiber optic center), Handcook Tire (large Japanese based tire giant) and LG.
Investment Highlights
■ Great Visibility
■ High Traffic Counts
■ Highest Growth Submarket of Clarksville
■ Strong Rent Roll
■ Good Term on Leases
■ Brand New Construction
■ Concrete Pad Parking
10
PROPERTY DESCRIPTION
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
INVESTMENT OVERVIEW
The submarket that the subject property is situated in is known as Sango. This particular submarket has the highest growth in the Clarksville marketplace.
11
PROPERTY DESCRIPTION
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
INVESTMENT OVERVIEW
The Offering
Property Clarksville Sango Shopping Center
Property Address 2421 Highway 41A
Clarksville, TN 37043
Zoning C
Site Description
Number of Stories 1
Year Built 2017
Gross Leasable Area (GLA) 5,000 SF
Lot Size 1.44 Acres
Type of Ownership Fee Simple
Parking 20
Parking Ratio 4:1
Landscaping Excellent
Topography Slope - Front and Back
Construction
Foundation Concrete
Framing Metal
Exterior Brick/Metal
Parking Surface Concrete
Roof Flat
Mechanical
Fire Protection Sprinkled
Utilities Separately Metered
Interior Detail
Walls Dry Wall
Ceilings Acoustical
Floor Coverings VCT
Rest Rooms ADA Per Codes
12
PROPERTY DESCRIPTION
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
PROPERTY SUMMARY
Construction
Features
■ New
■ Combo Brick and Metal Facade
■ Rear Storage
■ DI Doors
■ Glass Storefront
13
PROPERTY DESCRIPTION
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
PROPERTY FEATURES
14
PROPERTY DESCRIPTION
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
PROPERTY PHOTOS
15
PROPERTY DESCRIPTION
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
Local Map Regional Map
AREA MAPS
16
PROPERTY DESCRIPTION
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
SITE PLAN
17
PROPERTY DESCRIPTION
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
AERIAL PHOTO
Clarksville Sango Shopping CenterCLARKSVILLE, TN
RECENT SALES
1)
2)
3)
4)
5)
Clarksville Sango Shopping Center
Gateway Commons
Austin Square Shopping Center
Clarksville Goodwill Thrift Store
Campbell Corner
The Fountain at Indian Lake
19
RECENT SALES
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
RECENT SALES MAP
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Subject GatewayCommons
AustinSquareShoppingCenter
ClarksvilleGoodwillThriftStore
CampbellCorner
TheFountain
atIndianLake
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Subject GatewayCommons
AustinSquareShoppingCenter
ClarksvilleGoodwillThriftStore
CampbellCorner
TheFountain
atIndianLake
Average Price per Square Foot
20
RECENT SALES
Clarksville Sango Shopping CenterCLARKSVILLE, TN
Average Cap Rate
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
CAP RATE AND PRICE PER SF
1
2
Clarksville Sango Shopping Center
2421 Highway 41A
Clarksville, TN 37043
Gateway Commons
110 Morris Road
Clarksville, TN 37040
Austin Square Shopping Center
2702 Wilma Rudolph Boulevard
Clarksville, TN 37040
Comments
Close proximity to Interstate 24.
Located next to Wilma Rudolph Boulevard.
Comments
Close proximity to Governor's Square Mall.
Located on major retail corridor of Clarksville.
Close of Escrow: 10/1/2016 Major Tenants
Year Built: 2014 Sport Clips
Gross Leasable Area (GLA): 7,403 SF Smoothie King
Sale Price: $2,700,000 Pie Five Pizza Company
Percent Down: 20% Moe's Southwest Grill
CAP Rate: 6.91% Panera Bread
Price/SF (GLA): $364.72
Lot Size: 1.1 Acres
Subject Property
Year Built: 2017
Gross Leasable Area (GLA): 5,000 SF
Offering Price: $1,090,000
Percent Down 25%
CAP Rate: 7.05%
Price/SF (GLA): $218.00
Lot Size: 1.44 Acres
21
Close of Escrow: 10/7/2015 Major Tenants
Year Built: 2013 Aspen Dental
Gross Leasable Area (GLA): 9,050 SF Noodles & Company
Sale Price: $4,200,000 Mattress Firm
Percent Down:
CAP Rate: 7.20%
Price/SF (GLA): $464.08
Lot Size: 1.05 Acres
RECENT SALES
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
RECENT SALES
5
4
3 Clarksville Goodwill Thrift Store
2001 Needmore Road
Clarksville, TN 37042
Campbell Corner
4131 Fort Campbell Boulevard
Hopkinsville, KY 42240
The Fountain at Indian Lake
200 North Anderson Lane
Hendersonville, TN 37075
Comments
On July 7, 2016 the Campbell Corner retail center located at 4131 Fort Campbell Boulevard in Hopkinsville, Kentucky sold for
$5,396,557. The Class B property built in March of 2016 and consisting of 15,518 square feet, was fully occupied at the time
of sale. The property was on the market for five months, with an initial asking price of $5,514,730. The transaction was under
Comments
Northern Nashville Retail Market
Close of Escrow: 11/10/2016 Major Tenants
Year Built: 2007 Maggie Moo's
Gross Leasable Area (GLA): 23,205 SF Fountain Hair Salon
Sale Price: $7,075,000 Edible Arrangements
Percent Down: 100% Care Spot
CAP Rate: 6.50% The Chop Shop
Price/SF (GLA): $304.89 Nashville Apartment
Lot Size: 1.73 The Metabolic Group
Close of Escrow: 7/7/2016 Major Tenants
Year Built: 2016 Mattress Firm
Gross Leasable Area (GLA): 15,518 SF Aspen Dental
Sale Price: $5,396,557 Vision Works
Percent Down: 100% Kay Jewelers
CAP Rate: 6.90% Saffire Vapor Retail
Price/SF (GLA): $347.76
Lot Size: 1.54 Acres
22
Close of Escrow: 7/15/2017 Major Tenants
Year Built: 2015 Goodwill Thrift Store
Gross Leasable Area (GLA): 27,910 SF
Sale Price: $4,800,000
Percent Down:
CAP Rate: 7.02%
Price/SF (GLA): $171.98
Lot Size: 2.98
RECENT SALES
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
RECENT SALES
Clarksville Sango Shopping CenterCLARKSVILLE, TN
ON MARKET COMPARABLES
1)
2)
Clarksville Sango Shopping Center
Trenton Shopping Center
O'Reilly Auto Parts
24
ON MARKET COMPARABLES
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
ON MARKET COMPARABLES MAP
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Subject TrentonShoppingCenter
Average Price per Square Foot
25
ON MARKET COMPARABLES
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
CAP RATE AND PRICE PER SF
2
1
Clarksville Sango Shopping Center
2421 Highway 41A
Clarksville, TN 37043
Trenton Shopping Center
3862 Trenton Road
Clarksville, TN 37040
O'Reilly Auto Parts
1821 Madison Street
Clarksville, TN 37043
Status: On Market
Year Built: 2016
Gross Leasable Area (GLA): 7,225 SF
List Price: $2,047,685
Percent Down:
CAP Rate:
Price/SF (GLA):
Lot Size: 3 acres
Status: On Market Major Tenants
Year Built: 2006 Mr Topples Frozen
Gross Leasable Area (GLA): 4,300 SF Michael's Pizza
List Price: $975,000 Getsome Coffee
Percent Down: Potato Bowl
CAP Rate: Yolo's Food For The
Price/SF (GLA): $226.00
Lot Size: .5
Subject Property
26
Year Built: 2017
Gross Leasable Area (GLA): 5,000 SF
Offering Price: $1,090,000
Percent Down 25%
CAP Rate: 7.05%
Price/SF (GLA): $218.00
Lot Size: 1.44 Acres
ON MARKET COMPARABLES
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
ON MARKET COMPARABLES
Clarksville Sango Shopping CenterCLARKSVILLE, TN
MARKET OVERVIEW
Nashville-Davidson-Murfreesboro-Franklin, TN Metro
28
MARKET OVERVIEW
Clarksville Sango Shopping CenterCLARKSVILLE, TN
Geography
The Nashville metro is located in the north-central portion of the state of Tennessee, in what is known as the
Central Basin. The area is underlain primarily by limestone from the Ordovician Period. The Cumberland River,
which snakes through the region, adds to the local economic base and enhances Nashville’s quality of life.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
Market Highlights
Music city
■ The music industry provides jobs and supports a
large hospitality sector.
Diversifying economy
■ Other major industries in the metro include
healthcare, government, automotive, publishing,
insurance and finance.Population growth
■ The population will increase at a faster pace than the
nation over the next five years.
NASHVILLE
Largest Cities in Metro by Population
* ForecastSources: Marcus & Millichap Research Services, U.S. CensusBureau, Experian
Metro
The Nashville metro, with a population of nearly 1.8
million, has 13 counties: Davidson, Smith, Macon,
Williamson, Cheatham, Sumner, Dickson, Robertson,
Cannon, Rutherford, Hickman, Trousdale, Maury and
Wilson. Nashville, the capital city, is also the largest in
the metro with 646,600 residents, followed by
Murfreesboro.
29
Infrastructure
Three major interstate highways intersect in Nashville,
I-40, I-24 and I-65. In addition, I-440 serves as an
inner beltway circling the city, and I-840 is an outer
beltway. The region is home to numerous freight
carriers and truck terminals.
Air service to the region comes through the Nashville
International Airport and several general aviation
facilities, including the John C. Tune and Smyrna
airports. Also, Nashville Air Cargo is an all-cargo
complex located at the Nashville International Airport.
The Port of Nashville, located on the Cumberland
River, provides full river barge access to the Gulf of
Mexico. CSX Transportation has a major intermodal
rail yard servicing the Southeast U.S. located nearby. In
addition, the Music City Star, a passenger commuter
rail, runs between the city of Lebanon and downtown
Nashville, and bus transit within the city is provided by
the Metropolitan Transit Authority.
MARKET OVERVIEW
Clarksville Sango Shopping CenterCLARKSVILLE, TN
Nashville 646,600
Murfreesboro 120,600
Franklin 69,300
Hendersonville 55,100
Smyrna 43,800
Brentwood 41,700
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
Airports
■ Nashville International Airport
■ General Aviation Airports
Major Roadways
■ Interstates 24, 40, 65, 440 and 840
■ U.S. Routes 31, 41, 70 and 431
Rail
■ Freight - CSX
■ Commuter - Music City Star Rail
Port
■ Port of Nashville
The Nashville Metro is:
■ 210 miles from Memphis
■ 249 miles from Atlanta
■ 290 miles from Indianapolis
■ 310 miles from St. Louis
NASHVILLE
* ForecastSources: Marcus & Millichap Research Services, Bureau ofEconomic Analysis, Moody’s Analytics, U.S. Census Bureau,Experian
30
Economy
For many, country music and Nashville are
synonymous. The metro is home to the Ryman
Auditorium, Grand Ole Opry, Country Music
Television and Music Row. Music and entertainment
have helped to establish a large tourism industry.
Facilities such as the Gaylord Opryland Resort &
Convention Center, the Nashville Convention Center
and the 1.2 million-square-foot Music City Center have
all played a role in expanding the hospitality and
tourism segment.
Although entertainment and tourism are vital to the
local economy, the economic base is much more diverse.
This is due, in part, to the area having one of the
nation’s lowest overall tax burdens and the availability of
incentives to attract relocating and expanding
businesses. Other major industries in the metro include
healthcare, higher education, finance and insurance,
automobile production, printing and publishing, and
technology manufacturing. There are six fortune 500
companies headquartered in the region: HCA Holdings,
Dollar General, Community Health Systems, LifePoint
Health, Delek US Holdings and Tractor Supply Co.
Institutions of higher learning in the metro include
Middle Tennessee State University, Lipscomb
University, Belmont University, Vanderbilt University
and Tennessee State University. Education, healthcare
and government employment help to diversify
Nashville’s employment base.
MARKET OVERVIEW
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
NASHVILLE
31
Labor
After outperforming the national rate of job growth over the past 10 years, the Nashville metro is expected to
maintain an elevated pace of growth through 2020. Many employment sectors that posted the most robust growth
during the previous five years are now decelerating to a more sustainable pace, and all sectors except for
manufacturing are forecast to expand during this period. The largest increase will be in construction, at an average
pace of 5.3 percent annually in the coming five years.
Currently, the trade, transportation and utilities sector is the largest provider of regional jobs. These industries
comprise 20 percent of Nashville’s entire employment base, or approximately 180,600 jobs. Many of these
positions are in retail. The professional and business services sector makes up another major share of Nashville
employment, representing about 16 percent of payrolls. While this sector registered impressive annual growth of
approximately 6.8 percent throughout the previous five years, jobs in this sector are now forecast to expand by 3.5
annually. The education and health services segment comprises another 16 percent of employment. Demand for
these services is expected to increase throughout the foreseeable future, as the metro continuously records
population growth well above the national average.
Other employment segments that will register impressive gains through 2020are education and health services,
leisure and hospitality, information and the financial activities sectors. All of these industries are expected to grow
jobs at a pace in excess of 1 percent annually.
MARKET OVERVIEW
Clarksville Sango Shopping CenterCLARKSVILLE, TN
* ForecastSources: Marcus & Millichap Research Services, BLS, Moody’s Analytics
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
NASHVILLE
Major Employers
Employers
The list of major employers in Nashville is dominated
by education, healthcare and government entities. The
state of Tennessee, the Metropolitan Nashville-
Davidson County Government, which includes the
public school system, and Vanderbilt University and
Medical Center each account for nearly 20,000 jobs. St.
Thomas Health Services, MedSolutions and HCA also
contribute to the growing healthcare industry. Other
large employers are financial and insurance companies,
which employ tens of thousands of workers in the
metro. Major companies include American General Life
Companies, Hylant Group, CNA, First Tennessee
Bank, Sun Trust Bank, Primus Automotive Financial
Services and Asurion Insurance Services Inc.
Ryman Hospitality Properties, formerly Gaylord
Entertainment, is a large employer in the leisure and
hospitality sector. The company operates the Grand Ole
Opry, the Ryman Auditorium and other venues. The
entertainment industry helped to spawn a large printing
and publishing industry that focuses not only on
country-western media, but Christian media as well.
Large companies include the United Methodist
Publishing House, Ingram Content Group and R R
Donnelley & Sons Co.
Automobile production flourished when Nissan’s
Smyrna Plant began operations. The headquarters for
Nissan North American, Inc. moved to Franklin in
2006 and International Automotive Components, GM
and Bridgestone are located in the region.
Zycron, Amazon and Emma are a few of the technology
employers in the Nashville area that draws young
professionals to the region.
32
* ForecastSources: Marcus & Millichap Research Services, BLS, Moody’sAnalytics, Experian
MARKET OVERVIEW
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
Vanderbilt University and Medical Center
Kroger
Community Health Systems
Saint Thomas Health Services
Nissan North America
HCA
Ryman Hospitality Properties
Electrolux Home Products
Cracker Barrel Old Country Store, Inc.
Randstad Staffing
NASHVILLE
Demographics
The Nashville metro population is expected to grow by
more than 120,000 people over the next five years. The
growth will come from both in-migration and natural
increases, as the area has a large portion of families in
their childbearing years. Accordingly, the median age, at
36.2 years, is below the U.S. median of 37.5 years. The
number of residents in the 65-plus age bracket accounts
for just 12 percent of the metro’s population, under the
average for the country. This bodes well for Nashville’s
future, as it illustrates the area’s large, available
employment pool on the verge of their most successful
earning years.
Nashville, which is home to more than 20 colleges and
universities and is the state capital, has a higher level of
education among residents than the national average.
Approximately 30.2 percent of the local population
older than age 25 have earned at least a bachelor’s
degree, as opposed to 28.8 percent for the entire
country. The metro also places high in education
attainment when compared with many other
Southeastern cities.
Elevated education levels often translate to higher
incomes. The metro’s median household income has
consistently tracks the nationwide median. Strong
incomes and the relatively affordable median home price
of $208,500 have afforded more than 65 percent of
households to own their home.
33
* ForecastSources: Marcus & Millichap Research Services, AGS, Experian,Moody’s Analytics, U.S. Census Bureau
MARKET OVERVIEW
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
NASHVILLE
The information contained in the market overview comes from sources deemed to be reliable, however, no representation, warranty or guarantee, express or implied, may be made as to the accuracy or reliability of the information contained herein. The most timely data available at time of production, including estimates and forecasts, were used and may be subject to revision.
Quality of Life
While music may be in Nashville’s blood, Music City
has a lot more to offer, including performing arts,
history, cuisine, professional sports, education
institutions, natural beauty and Southern charm.
Music is alive not only at the Grand Ole Opry, but also
at the Ryman Auditorium, Fontanel Mansion,
Schermerhorn Symphony Center and the Tennessee
Performing Arts Center. For country music fans, there is
the Country Music Hall of Fame and Museum.
Performing arts include the Nashville Ballet, Nashville
Symphony, Nashville Opera Association, Tennessee
Repertory Theatre, Nashville Children’s Theatre and
the ACT 1, Artists’ Cooperative Theatre.
Museums in the metro include the Tennessee State
Museum, the Vanderbilt University Fine Arts Gallery,
Frist Center for the Visual Arts, Cheekwood Botanical
Garden & Museum of Art and the Carl Van Vechten
Gallery at Fisk University.
Sports enthusiasts can watch the Tennessee Titans of
the NFL, the NHL Nashville Predators and the
Nashville Sounds, which are a member of baseball’s
AAA Minor League.
For those who want to spend an afternoon outdoors,
one can take in the Parthenon, the world’s only replica
of the ancient Greek temple, which is located only 2
miles from downtown Nashville or Nashville Shores
Water Park and Marina.
34
* ForecastSources: Marcus & Millichap Research Services, NationalAssociation of Realtors, Moodys Analytics, U.S. Census Bureau
MARKET OVERVIEW
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
NASHVILLE
35
Burgeoning Millennial Base Drives Occupancy
And Rent Rates to Current Cycle Highs
Healthy demographics and property performance are at a 10-year high, indicating a bright future for the Nashville
retail market. Job opportunities for young professionals and the hip, bohemian feel of the metro has led to heavy
levels of net migration, especially among millennials. Population growth for those ages 20 to 34, an incredibly
important cohort to retailers, is triple the national average, supporting annual retail-sales volume that will exceed
$32 billion by year end. The influx of new residents has ignited multi- and single-family development, which has
in turn fed the retail market. Mixed-use construction is highly prevalent as office and apartment developers look to
supplement traditional space with some retail component. Capitol View in the North Gulch is a prime example;
once completed, the project will offer both stand-alone and ground-floor retail, as well as office, multifamily and
hospitality space. Although mixed-use development is heating up, pure retail construction has faltered and will
reach the lowest level since the recession. A slowdown in new development amid robust demand will encourage
metrowide tightening with vacancy reaching the lowest point since the downturn. Rent growth will follow suit as
operators lift rents past the prior cycle’s peak.
The Nashville retail investment market is locally driven with in-state buyers dominating sales activity. Institutional
and national money, however, have begun testing the market, especially for properties with long-term leases or
corporate guarantees. Sale-lease activity among single-tenant franchisee assets has become increasingly popular, as
owners look to raise capital for reimaging or expansion efforts. Seller motivation is primarily driven by pricing as
cap rates for multi-tenant space compress to unprecedented levels. First-year yields for these assets in premier
locations average in the low- to mid-5 percent range.
MARKET OVERVIEW
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
* Forecast
NASHVILLE
2016 Market Forecast
36
MARKET OVERVIEW
Clarksville Sango Shopping CenterCLARKSVILLE, TN
* ForecastSources: CoStar Group, Inc.; Real Capital Analytics
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
NRI Rank11, up 8 places
Employmentup 2.9%
Construction371,000 sq. ft.
Vacancydown 60 bps
Rentup 4.5%
Investment
Nashville jumped eight spots this year amid tight conditions and strengthening rent gains.
Employers will hire 27,000 new workers in 2016, an increase of 2.9 percent. This is onpace with last year, when the metro added 28,900 jobs.
Nashville developers will deliver 371,000 square feet of retail space this year, growingmetro inventory 0.4 percent. This is a slowdown from 2015, when 478,000 square feetwere completed.
Following a 40-basis-point drop last year, the metrowide vacancy rate will drop 60 basispoints to 4.9 percent in 2016 on nearly 1 million square feet of net absorption.
The average asking rent will climb 4.5 percent to $16.21 per square foot this year. Lastyear, the metro recorded a jump of 6.1 percent.
Attention is focused on areas surrounding the universities, with investment activity heatingup in 12 South and Hillsboro Village.
NASHVILLE
37
MARKET OVERVIEW
Clarksville Sango Shopping CenterCLARKSVILLE, TN
Nashville-Davidson-Murfreesboro-Franklin, TN Metro
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
Geography
The Nashville metro is located in the north-central portion of the state of Tennessee, in what is known as the
Central Basin. The area is underlain primarily by limestone from the Ordovician Period. The Cumberland River,
which snakes through the region, adds to the local economic base and enhances Nashville’s quality of life.
NASHVILLE
Market Highlights
Music city
■ The music industry provides jobs and supports a
large hospitality sector.
Diversifying economy
■ Other major industries in the metro include
healthcare, government, automotive, publishing,
insurance and finance.Population growth
■ The population will increase at a faster pace than the
nation over the next five years.
38
Largest Cities in Metro by Population
MARKET OVERVIEW
* ForecastSources: Marcus & Millichap Research Services, U.S. CensusBureau, Experian
Clarksville Sango Shopping CenterCLARKSVILLE, TN
Metro
The Nashville metro, with a population of nearly 1.8
million, has 13 counties: Davidson, Smith, Macon,
Williamson, Cheatham, Sumner, Dickson, Robertson,
Cannon, Rutherford, Hickman, Trousdale, Maury and
Wilson. Nashville, the capital city, is also the largest in
the metro with 646,600 residents, followed by
Murfreesboro.
Infrastructure
Three major interstate highways intersect in Nashville,
I-40, I-24 and I-65. In addition, I-440 serves as an
inner beltway circling the city, and I-840 is an outer
beltway. The region is home to numerous freight
carriers and truck terminals.
Air service to the region comes through the Nashville
International Airport and several general aviation
facilities, including the John C. Tune and Smyrna
airports. Also, Nashville Air Cargo is an all-cargo
complex located at the Nashville International Airport.
The Port of Nashville, located on the Cumberland
River, provides full river barge access to the Gulf of
Mexico. CSX Transportation has a major intermodal
rail yard servicing the Southeast U.S. located nearby. In
addition, the Music City Star, a passenger commuter
rail, runs between the city of Lebanon and downtown
Nashville, and bus transit within the city is provided by
the Metropolitan Transit Authority.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
Nashville 646,600
Murfreesboro 120,600
Franklin 69,300
Hendersonville 55,100
Smyrna 43,800
Brentwood 41,700
Airports
■ Nashville International Airport
■ General Aviation Airports
Major Roadways
■ Interstates 24, 40, 65, 440 and 840
■ U.S. Routes 31, 41, 70 and 431
Rail
■ Freight - CSX
■ Commuter - Music City Star Rail
Port
■ Port of Nashville
The Nashville Metro is:
■ 210 miles from Memphis
■ 249 miles from Atlanta
■ 290 miles from Indianapolis
■ 310 miles from St. Louis
NASHVILLE
39
MARKET OVERVIEW
Clarksville Sango Shopping CenterCLARKSVILLE, TN
* ForecastSources: Marcus & Millichap Research Services, Bureau ofEconomic Analysis, Moody’s Analytics, U.S. Census Bureau,Experian
Economy
For many, country music and Nashville are
synonymous. The metro is home to the Ryman
Auditorium, Grand Ole Opry, Country Music
Television and Music Row. Music and entertainment
have helped to establish a large tourism industry.
Facilities such as the Gaylord Opryland Resort &
Convention Center, the Nashville Convention Center
and the 1.2 million-square-foot Music City Center have
all played a role in expanding the hospitality and
tourism segment.
Although entertainment and tourism are vital to the
local economy, the economic base is much more diverse.
This is due, in part, to the area having one of the
nation’s lowest overall tax burdens and the availability of
incentives to attract relocating and expanding
businesses. Other major industries in the metro include
healthcare, higher education, finance and insurance,
automobile production, printing and publishing, and
technology manufacturing. There are six fortune 500
companies headquartered in the region: HCA Holdings,
Dollar General, Community Health Systems, LifePoint
Health, Delek US Holdings and Tractor Supply Co.
Institutions of higher learning in the metro include
Middle Tennessee State University, Lipscomb
University, Belmont University, Vanderbilt University
and Tennessee State University. Education, healthcare
and government employment help to diversify
Nashville’s employment base.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
NASHVILLE
40
MARKET OVERVIEW
Clarksville Sango Shopping CenterCLARKSVILLE, TN
Labor
After outperforming the national rate of job growth over the past 10 years, the Nashville metro is expected to
maintain an elevated pace of growth through 2020. Many employment sectors that posted the most robust growth
during the previous five years are now decelerating to a more sustainable pace, and all sectors except for
manufacturing are forecast to expand during this period. The largest increase will be in construction, at an average
pace of 5.3 percent annually in the coming five years.
Currently, the trade, transportation and utilities sector is the largest provider of regional jobs. These industries
comprise 20 percent of Nashville’s entire employment base, or approximately 180,600 jobs. Many of these
positions are in retail. The professional and business services sector makes up another major share of Nashville
employment, representing about 16 percent of payrolls. While this sector registered impressive annual growth of
approximately 6.8 percent throughout the previous five years, jobs in this sector are now forecast to expand by 3.5
annually. The education and health services segment comprises another 16 percent of employment. Demand for
these services is expected to increase throughout the foreseeable future, as the metro continuously records
population growth well above the national average.
Other employment segments that will register impressive gains through 2020are education and health services,
leisure and hospitality, information and the financial activities sectors. All of these industries are expected to grow
jobs at a pace in excess of 1 percent annually.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
* ForecastSources: Marcus & Millichap Research Services, BLS, Moody’s Analytics
NASHVILLE
41
MARKET OVERVIEW
Clarksville Sango Shopping CenterCLARKSVILLE, TN
Major Employers
Employers
The list of major employers in Nashville is dominated
by education, healthcare and government entities. The
state of Tennessee, the Metropolitan Nashville-
Davidson County Government, which includes the
public school system, and Vanderbilt University and
Medical Center each account for nearly 20,000 jobs. St.
Thomas Health Services, MedSolutions and HCA also
contribute to the growing healthcare industry. Other
large employers are financial and insurance companies,
which employ tens of thousands of workers in the
metro. Major companies include American General Life
Companies, Hylant Group, CNA, First Tennessee
Bank, Sun Trust Bank, Primus Automotive Financial
Services and Asurion Insurance Services Inc.
Ryman Hospitality Properties, formerly Gaylord
Entertainment, is a large employer in the leisure and
hospitality sector. The company operates the Grand Ole
Opry, the Ryman Auditorium and other venues. The
entertainment industry helped to spawn a large printing
and publishing industry that focuses not only on
country-western media, but Christian media as well.
Large companies include the United Methodist
Publishing House, Ingram Content Group and R R
Donnelley & Sons Co.
Automobile production flourished when Nissan’s
Smyrna Plant began operations. The headquarters for
Nissan North American, Inc. moved to Franklin in
2006 and International Automotive Components, GM
and Bridgestone are located in the region.
Zycron, Amazon and Emma are a few of the technology
employers in the Nashville area that draws young
professionals to the region.* ForecastSources: Marcus & Millichap Research Services, BLS, Moody’sAnalytics, Experian
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
Vanderbilt University and Medical Center
Kroger
Community Health Systems
Saint Thomas Health Services
Nissan North America
HCA
Ryman Hospitality Properties
Electrolux Home Products
Cracker Barrel Old Country Store, Inc.
Randstad Staffing
NASHVILLE
42
MARKET OVERVIEW
Clarksville Sango Shopping CenterCLARKSVILLE, TN
Demographics
The Nashville metro population is expected to grow by
more than 120,000 people over the next five years. The
growth will come from both in-migration and natural
increases, as the area has a large portion of families in
their childbearing years. Accordingly, the median age, at
36.2 years, is below the U.S. median of 37.5 years. The
number of residents in the 65-plus age bracket accounts
for just 12 percent of the metro’s population, under the
average for the country. This bodes well for Nashville’s
future, as it illustrates the area’s large, available
employment pool on the verge of their most successful
earning years.
Nashville, which is home to more than 20 colleges and
universities and is the state capital, has a higher level of
education among residents than the national average.
Approximately 30.2 percent of the local population
older than age 25 have earned at least a bachelor’s
degree, as opposed to 28.8 percent for the entire
country. The metro also places high in education
attainment when compared with many other
Southeastern cities.
Elevated education levels often translate to higher
incomes. The metro’s median household income has
consistently tracks the nationwide median. Strong
incomes and the relatively affordable median home price
of $208,500 have afforded more than 65 percent of
households to own their home.
* ForecastSources: Marcus & Millichap Research Services, AGS, Experian,Moody’s Analytics, U.S. Census Bureau
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
NASHVILLE
43
MARKET OVERVIEW
The information contained in the market overview comes from sources deemed to be reliable, however, no representation, warranty or guarantee, express or implied, may be made as to the accuracy or reliability of the information contained herein. The most timely data available at time of production, including estimates and forecasts, were used and may be subject to revision.
Clarksville Sango Shopping CenterCLARKSVILLE, TN
Quality of Life
While music may be in Nashville’s blood, Music City
has a lot more to offer, including performing arts,
history, cuisine, professional sports, education
institutions, natural beauty and Southern charm.
Music is alive not only at the Grand Ole Opry, but also
at the Ryman Auditorium, Fontanel Mansion,
Schermerhorn Symphony Center and the Tennessee
Performing Arts Center. For country music fans, there is
the Country Music Hall of Fame and Museum.
Performing arts include the Nashville Ballet, Nashville
Symphony, Nashville Opera Association, Tennessee
Repertory Theatre, Nashville Children’s Theatre and
the ACT 1, Artists’ Cooperative Theatre.
Museums in the metro include the Tennessee State
Museum, the Vanderbilt University Fine Arts Gallery,
Frist Center for the Visual Arts, Cheekwood Botanical
Garden & Museum of Art and the Carl Van Vechten
Gallery at Fisk University.
Sports enthusiasts can watch the Tennessee Titans of
the NFL, the NHL Nashville Predators and the
Nashville Sounds, which are a member of baseball’s
AAA Minor League.
For those who want to spend an afternoon outdoors,
one can take in the Parthenon, the world’s only replica
of the ancient Greek temple, which is located only 2
miles from downtown Nashville or Nashville Shores
Water Park and Marina. * ForecastSources: Marcus & Millichap Research Services, NationalAssociation of Realtors, Moodys Analytics, U.S. Census Bureau
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
NASHVILLE
Clarksville Sango Shopping CenterCLARKSVILLE, TN
DEMOGRAPHIC ANALYSIS
1 Mile 3 Miles 5 Miles
2000 Population 2,501 18,436 45,215
2010 Population 2,261 20,863 53,601
2014 Population 2,482 23,026 59,881
2019 Population 2,586 24,222 63,557
2000 Households 989 7,598 17,618
2010 Households 936 8,862 21,064
2014 Households 1,030 9,815 23,663
2019 Households 1,081 10,388 25,270
2014 Average Household Size 2.29 2.32 2.43
2014 Daytime Population 965 6,090 21,159
2000 Owner Occupied Housing Units 55.78% 59.05% 57.80%
2000 Renter Occupied Housing Units 39.19% 35.48% 34.62%
2000 Vacant 5.02% 5.47% 7.58%
2014 Owner Occupied Housing Units 62.16% 58.56% 57.93%
2014 Renter Occupied Housing Units 37.84% 41.44% 42.07%
2014 Vacant 2.26% 4.32% 5.11%
2019 Owner Occupied Housing Units 61.75% 58.57% 58.03%
2019 Renter Occupied Housing Units 38.25% 41.43% 41.97%
2019 Vacant 2.22% 4.20% 4.78%
$ 0 - $14,999 11.9% 12.4% 13.9%
$ 15,000 - $24,999 12.8% 12.1% 12.4%
$ 25,000 - $34,999 11.7% 11.1% 10.7%
$ 35,000 - $49,999 16.3% 14.7% 14.1%
$ 50,000 - $74,999 20.4% 20.9% 20.6%
$ 75,000 - $99,999 12.9% 12.6% 12.1%
$100,000 - $124,999 5.9% 6.7% 7.2%
$125,000 - $149,999 4.5% 3.6% 3.8%
$150,000 - $199,999 2.7% 3.3% 2.9%
$200,000 - $249,999 0.3% 0.9% 0.9%
$250,000 + 0.7% 1.7% 1.4%
2014 Median Household Income $46,619 $49,656 $48,699
2014 Per Capita Income $24,785 $28,498 $25,734
2014 Average Household Income $59,700 $66,570 $64,148
Demographic data © 2012 by Experian.
45
DEMOGRAPHIC ANALYSIS
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
DEMOGRAPHIC REPORT
Geography: 5 miles
Population
In 2014, the population in your selected geography is 59,880. The population has changed by 32.43% since 2000. It is estimated
that the population in your area will be 63,557 five years from now, which represents a change of 6.13% from the current year. The
current population is 48.70% male and 51.29% female. The median age of the population in your area is 34.4, compare this to the
Entire US average which is 37.3. The population density in your area is 761.90 people per square mile.
Households
There are currently 23,662 households in your selected geography. The number of households has changed by 34.31% since 2000.
It is estimated that the number of households in your area will be 25,269 five years from now, which represents a change of 6.79%
from the current year. The average household size in your area is 2.43 persons.
Income
In 2014, the median household income for your selected geography is $48,698, compare this to the Entire US average which is
currently $51,972. The median household income for your area has changed by 28.93% since 2000. It is estimated that the median
household income in your area will be $53,709 five years from now, which represents a change of 10.28% from the current year.
The current year per capita income in your area is $25,734, compare this to the Entire US average, which is $28,599. The current
year average household income in your area is $64,148, compare this to the Entire US average which is $74,533.
Race & Ethnicity
The current year racial makeup of your selected area is as follows: 76.28% White, 16.60% Black, 0.13% Native American and 1.78%
Asian/Pacific Islander. Compare these to Entire US averages which are: 71.60% White, 12.70% Black, 0.18% Native American and
5.02% Asian/Pacific Islander.
People of Hispanic origin are counted independently of race. People of Hispanic origin make up 5.05% of the current year
population in your selected area. Compare this to the Entire US average of 17.13%.
Housing
In 2000, there were 11,018 owner occupied housing units in your area and there were 6,599 renter occupied housing units in your
area. The median rent at the time was $436.
Employment
In 2014, there are 21,159 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed
that 58.03% of employees are employed in white-collar occupations in this geography, and 42.39% are employed in blue-collar
occupations. In 2014, unemployment in this area is 7.29%. In 2000, the average time traveled to work was 25.6 minutes.
Demographic data © 2012 by Experian.
46
DEMOGRAPHIC ANALYSIS
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
SUMMARY REPORT
Number of people living in a given area per square mile.
Demographic data © 2012 by Experian.
47
DEMOGRAPHIC ANALYSIS
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
POPULATION DENSITY
The number of people employed in a given area per square mile.
Demographic data © 2012 by Experian.
48
DEMOGRAPHIC ANALYSIS
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
EMPLOYMENT DENSITY
Average income of all the people 15 years and older occupying a
single housing unit.
Demographic data © 2012 by Experian.
49
DEMOGRAPHIC ANALYSIS
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
AVERAGE HOUSEHOLD INCOME
Two-way, average daily traffic volumes.
50
DEMOGRAPHIC ANALYSIS
Clarksville Sango Shopping CenterCLARKSVILLE, TN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Y0480157 Marcus &Millichap. All rights reserved.
Traffic Count data © 2012 by TrafficMetrix. All rights reserved.
TRAFFIC COUNTS
* Traffic Count Estimate
CLARKSVILLE, TN
OFFERING MEMORANDUM
Clarksville Sango ShoppingCenter
Offices Throughout the U.S and Canada
www.MarcusMillichap.com
Exclusively Listed By:
Alan Treadway, Jr.Associate
Director, National Retail GroupNashville Office
License: TN: 00226652Tel: (615) 997-2856Fax: (615) 997-2910
[email protected]/WilliamTreadway