CRUNCH FITNESSAMARILLO, TX

SUBJECT PROPERTY

CRUNCH FITNESS

6.50%CAP

$5,657,142PRICE

LEASEABLE SF26,727 SF

LAND AREA2.92 Acres

LEASE TYPENN

LEASE EXPIRATION9/30/2027

YEAR BUILT2000

PARKING173 Spaces

2020 S GEORGIA ST, AMARILLO, TX, 79109

10-year lease with rental increases every five years in base term and option periods

Excellent visibility from I-40 with 81,000+ traffic counts

Household incomes in Amarillo are 12% higher than the rest of Texas

Fitness center concept is internet-resistant and growing in popularity

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.SUBJECT PROPERTY 2

Overview

THE SUBJECT PROPERTY is a 10-year Crunch Fitness lease with rental escalations in the base term and the two 5-year option periods. The property is strategically located on the corner of Georgia Street and Wolflin Avenue which have combined traffic counts of over 42,500 VPD. The Crunch Fitness is also right off Amarillo’s main arterial, Interstate 40, that connects Albuquerque and Oklahoma City, and sees traffic counts of 81,000 VPD.

Amarillo is the principal city of the Amarillo Metropolitan Statistical Area. More than 10,000 businesses have operations in Amarillo, with the focus being on manufacturing, distribution, retail, healthcare and social service sectors, with growing sectors in the energy and aviation industries. These industries create a strong local economy where median household incomes are 16% higher than the rest of the U.S. and 12% higher than the rest of Texas.

THE RETAIL MARKET - There are a number of other major retailers in the area including Michaels, Petco, Burlington, Church’s Chicken, Five Guys, Starbucks, and a variety of others.

Contact the team

CRUNCH FITNESS HAS OVER 1,000,000 MEMBERS THROUGHOUT THE U.S.

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

RICK SANNERrsanner@capitalpacific.comPH: 415.274.2709CA BRE# 01440360

SUBJECT PROPERTY

IN CONJUNCTION WITH TX LICENSED BROKER: Peter EllisPH: 210.325.7578 peter.e@sbcglobal.net

3

Investment Highlights

40

40

40

27

27

40

40

40W AMARILLO BOULEVARD

WOLFLIN AVENUE

GEO

RGIA

ST

REET

SG

EORG

IA

STRE

ET S

S W

ASH

ING

TON

STR

EET

HIGH SCHOOL

ASCENSION ACADEMY

MIDDLE SCHOOL

ELEMENTARY

SCHOOL

AMARILLO COUNTRY

CLUB

AMARILLO VA HEALTHCARE

SYSTEM

TEXAS TECH UNIVERSITY

HEALTH SCIENCES

NORTHWEST TEXAS

HEALTHCARE SYSTEM

AMARILLO COLLEGE

AMARILLO COLLEGE

WEST CAMPUS

PLUM CREEK SPECIALTY HOSPITAL

BAPTIST SAINT

ANTHONY HOSPITAL

96,000VPD

50,060 VPD

19,790 VPD35,900

VPD

64,000 VPD

DALLAS

4

Aerial

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

ELEMENTARY

SCHOOL

ELEMENTARY

SCHOOL

ELEMENTARY

SCHOOL

ELEMENTARY

SCHOOL

ELEMENTARY

SCHOOL

MIDDLE SCHOOL

ELEMENTARY

SCHOOL

ELEMENTARY

SCHOOLELEMENTARY

SCHOOLELEMENTARY

SCHOOL

MIDDLE SCHOOL

HIGH SCHOOL

REPRESENTATIVE PHOTOREPRESENTATIVE PHOTOREPRESENTATIVE PHOTO

StarbucksBurger KingTexas RoadhouseChurch’s ChickenWells Fargo BankDomino’s PizzaGet Fit

Texas TeaRent-A-CenterDenny’sThe Spotted ZebraFive GuysSpring StoreGNC

Office DepotGreat ClipsSweet CreationsPopeyesGold’s GymHertzMattress Express

BUSINESS SUMMARY

KEY 1-MILE 3-MILES 5-MILES

TOTAL 1-MILE 3-MILES 5-MILES

Businesses 1,206 5,108 7,698

Employees 10,197 58,708 91,835

Residential Population 12,517 94,340 177,065

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Submarket Overview REPRESENTATIVE PHOTO

5

RETAILERS IN CLOSE PROXIMITY INCLUDE:

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

PRICE $5,657,142

Price Per Square Foot: $211.66

Capitalization Rate: 6.50%

Total Rentable Area of Land (SF): 26,727

Lot Size (AC): 2.96

STABILIZED INCOME PER SQUARE FOOTScheduled Rent $13.76 $367,714

Effective Gross Income $13.76 $367,714

LESS PER SQUARE FOOTTaxes NNN $0.00

Insurance NNN $0.00

Total Operating Expenses NNN $0.00

EQUALS NET OPERATING INCOME $367,714

SUBJECT PROPERTY

6

Income & Expense

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

TENANT INFO LEASE TERMS RENT SUMMARYTENANT NAME SQ. FT. CURRENT

RENTMONTHLY

RENTYEARLY

RENTMONTHLY RENT/FT

YEARLYRENT/FT

Crunch Fitness 26,727 10/01/17 09/30/22 $367,714 $30,643 $367,714 $1.15 $13.76

10/01/22 09/30/27 $32,852 $394,223 $1.23 $14.75

Option 1 10/01/27 09/30/32 $36,137 $433,646 $1.35 $16.23

Option 2 10/01/32 09/30/37 $39,751 $477,010 $1.49 $17.85

TOTALS: 26,727 $367,714 $30,643 $367,714 $1.15 $13.76

7

Rent Roll

WOLFLIN AVENUE

WOLFLIN AVENUE

STANLEY STREET

GEO

RGIA

STR

EET

S

GEO

RGIA

STR

EET

S BLA

CKB

URN

STR

EET

NOT A PART

NOT A PART

PYLON SIGN

40

4096,000

VPD

6,690 VPD

35,900 VPD

DUNIVEN CIRCLE

Site Plan

8This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

173SPACES

26,727RENTABLE SF

2.92ACRES

LOCATIONS IN 24 STATES AND 5 COUNTRIES

250+

Crunch Fitness is has been in operation since 1989, when it first opened in New York City’s East Village. In 2010, Crunch Fitness became a franchising gym and has since grown to over 250 opened locations in 24 states and 5 countries and commitments to open over 600 franchise locations.

Since the beginning, the company has been dedicated to helping members change their lives and reach their individual fitness goals The company has emphasized the importance of inclusion, boasting that fitness is for every shape, size, age, race, gender or fitness level. With convenient club locations, personal training services, innovative group exercise classes, and a variety of strength, cardio, and functional training equipment, Crunch Fitness offers fitness solutions for everyone.

The $25.8 Billion gym and fitness club industry has continued to thrive in the U.S. with over 57 million members nationwide and counting.

ABOUT CRUNCH FITNESS

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

SUBJECT PROPERTY

NUMBER OF MEMBERS1,000,000

9

Tenant Overview

POPULATION

1-MILE 3-MILES 5-MILES

2010 12,171 91,955 168,722

2017 12,517 94,340 177,065

2022 12,793 96,546 183,358

2017 HH INCOME

1-MILE 3-MILES 5-MILES

Average $72,943 $59,227 $67,708

TOP EMPLOYERS

EMPLOYER # OF EMPLOYEES

Amarillo Independent School District 4,282

Tyson Foods, Inc. 3,700

B&W Pantex 3,200

Baptist St. Anthony’s Health Care Systems

2,900

City of Amarillo 1,973

AMARILLO

THE AVERAGE HOUSEHOLD INCOME WITHIN A 1-MILE RADIUS

IS OVER $72K

OKLAHOMA CITY (258 MILES)

This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

DALLAS(362 MILES)

10

Demographics

AMARILLO,TEXAS

AMARILLO, founded in 1887, is located in the northern region of Texas known as the “Texas Panhandle”. The Texas Panhandle is bordered by New Mexico and Oklahoma, granting Amarillo easy access to both states. The city is known as the gateway to the Palo Duro Canyon State Park, a vast trail-lined park with the second largest canyon system in the U.S.

With mostly rural communities populating the Texas Panhandle, Amarillo serves as the hub for medicine, economy, education, and culture. There are several higher education institutions including Amarillo College, Texas Tech University at Amarillo, West Texas A&M University and Wayland Baptist University.

AMARILLO’S IS THE REGIONAL ECONOMIC CENTER for the Texas Panhandle. The economy has long been associated with the agricultural

and energy industries but has since diversifies to include copper refining, fiberglass production, meat packing, ordnance manufacturing, customer service operations, and aircraft assembly operations.

AMARILLO ECONOMY

190,700

AMARILLO POPULATION (ESTIMATED)

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

11

Location Overview

INDIANAPOLIS, INDIANA

We’d love to hear from you.

CAPITAL PACIFIC COLLABORATES. CLICK HERE TO MEET OUR SAN FRANCISCO TEAM:

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

JOE CACCAMOJOHN ANDREINI

ZANDY SMITH

DAVE LUCAS

RICK SANNER JACK NAVARRA

CHRIS KOSTANECKIZEB RIPPLE CHRIS PETERS

RICK SANNERrsanner@capitalpacific.comPH: 415.274.2709CA BRE# 01440360

IN CONJUNCTION WITH TX LICENSED BROKER: Peter EllisPH: 210.325.7578peter.e@sbcglobal.net

SUBJECT PROPERTY

Copyright © 2018 Capital Pacific Partners

SFO. PDX. SEA. CAPITALPACIFIC.COM

SUBJECT PROPERTY

11-2-2015

TYPES OF REAL ESTATE LICENSE HOLDERS: A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker. A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): Put the interests of the client above all others, including the broker’s own interests; Inform the client of any material information about the property or transaction received by the broker; Answer the client’s questions and present any offer to or counter-offer from the client; and Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:

Must treat all parties to the transaction impartially and fairly; May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and

buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction. Must not, unless specifically authorized in writing to do so by the party, disclose:

ᴑ that the owner will accept a price less than the written asking price;ᴑ that the buyer/tenant will pay a price greater than the price submitted in a written offer; andᴑ any confidential information or any other information that a party specifically instructs the broker in writing not to

disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: The broker’s duties and responsibilities to you, and your obligations under the representation agreement. Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Information About Brokerage Services Texas law requires all real estate license holders to give the following information about

brokerage services to prospective buyers, tenants, sellers and landlords.

.

Designated Broker of Firm License No. Email Phone

Licensed Supervisor of Sales Agent/Associate

License No. Email Phone

Licensed Broker /Broker Firm Name or Primary Assumed Business Name

License No. Email Phone

Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov

IABS 1-0

Date Buyer/Tenant/Seller/Landlord Initials

Sales Agent/Associate’s Name License No. Email Phone