Offering Memorandum
FRESENIUS MEDICAL CARE1104 Frank W Evans Way • Bennettsville, SC 29512
N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E
Confidentiality and DisclaimerThe 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
Non-Endorsement NoticeMarcus & 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 YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
FRESENIUS MEDICAL CARE
Bennettsville, SC
ACT ID Z0280223
2
N E T L E A S E D D I S C L A I M E R
Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:
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.
By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost,
expense, or liability arising out of your investigation and/or purchase of this net leased property.
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TABLE OF CONTENTS
SECTION
INVESTMENT OVERVIEW 01Offering Summary
Location Overview
Regional and Local Map
Aerial Photo
FINANCIAL ANALYSIS 02Acquisition Financing
MARKET OVERVIEW 03Market Analysis
Demographic Analysis
FRESENIUS MEDICAL CARE
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FRESENIUS MEDICAL CARE
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INVESTMENT
OVERVIEW
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EXECUTIVE SUMMARY
OFFERING SUMMARY
#
FRESENIUS MEDICAL CARE
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FRESENIUS MEDICAL CARE
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OFFERING SUMMARY
MAJOR EMPLOYERS
EMPLOYER# OF
EMPLOYEES *
Scotland Health Care System 479
Marley Engineered Products LLC
360
Evans Correctional Institution 350
Marley Engineered Products 330
Domtar Paper Company LLC 300
Fci Bennettsville 245
Sopakco Inc 140
Marlboro County High School 135
Carolina Particleboard 125
Flakeboard America Limited 114
Grant Application ADM 99
Bennettsville Primary School 90
DEMOGRAPHICS
1-Miles 3-Miles 5-Miles
2017 Estimate Pop 2,106 13,104 14,582
2017 Census Pop 2,228 13,806 15,365
2017 Estimate HH 950 4,126 4,707
2017 Census HH 1,004 4,373 4,984
Median HH Income
$40,503 $31,611 $31,810
Per Capita Income $22,883 $15,339 $16,114
Average HH Income
$48,329 $42,443 $42,842
* # of Employees based on 5 mile radius
OFFERING SUMMARY
Price $797,000
Net Operating Income $77,512
Capitalization Rate – Current 9.73%
Price / SF $110.82
Rent / SF $12.99
Lease Type Modified Gross
Gross Leasable Area 7,192 SF
Year Built / Renovated 2000
Lot Size 1.02 acre(s)
FINANCING
Down Payment All Cash
Net Cash Flow 9.73% / $77,512
Cash on Cash Return 9.73%
Total Return 0.00% / $77,512
FRESENIUS MEDICAL CARE
OFFERING SUMMARY
Parent Company Credit Rating is Baa3
7,192 SF Single Tenant Fresenius Dialysis
Has Occupied Building Since 2000
1% Annual Increases Plus Three- Five year Options with FMV
Increases at Each Option Period
Situated in a High Density Medical/Office Area
Property Well Maintained With Many Upgrades
9.73 Percent Cap Rate
INVESTMENT HIGHLIGHTS
Marcus & Millichap is pleased to exclusively list for sale 7,192-square-foot single tenant Fresenius Medical Care located in
Bennettsville, (Marlboro County) South Carolina. Located on approximately 1.02 acres, Fresenius Medical Care has three years
remaining on their modified gross lease. Fresenius Medical Care has 1% annual rent increases along with three- five year
options including future market value rent increases at every option period. Fresenius Medical Care has been established in this
location since 2000 and is corporately guaranteed. Moody's has given Fresenius Medical Care a credit rating of Baa3 with a
stable future outlook.
Bennettsville is a city located in in Marlboro County, South Carolina. Bennettsville is situated in northeastern South Carolina
along the Great Pee Dee River. Bennettsville is most noted for its historic architecture from the 19th and early 20th centuries.
Bennettsville shares its borders with the municipalities with Tatum,. Clio, Blenheim, Society Hill, Cheraw, Wallace, and McColl.
The major roads and highways that pass through or near Bennettsville are Route 15. Route 9, Route 38, Route 401, and Route
385. The subject property is approximately 10 miles from the southern border of North Carolina.
Within a five-mile radius of Bennettsville, the median household income is $31,810 among the 14,582 individuals who reside
within a five-mile radius of the subject property.
The asking price of $797,000 represents a 9.73 percent cap rate.
INVESTMENT OVERVIEW
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12
TENANT PROFILES
FRESENIUS MEDICAL CARE
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Fresenius Medical Care
General Information
Tenant Name Fresenius Medical Care
Website www.fmcna.com
Parent CompanyFresenius Medical Care North America Holdings Limited Partnership
Headquartered Bad Homburg, Germany
Rentable Square Feet 7,192 SF
Percentage of RBA 100.00%
Lease Commencement 1/08/2011
Lease Expiration 1/07/2021
No. of Locations 2,200 +
Fresenius Medical Care is an industry-leading network of dialysis
facilities, outpatient cardiac and vascular labs, and urgent care
centers, as well as the nation’s largest practice of hospitalist and
post-acute providers. With over 2,200 facilities, Fresenius
Medical Care provides coordinated health care services at
critical stages in thousands of chronically ill patients throughout
the continent. Fresenius is the only vertically integrated renal
company in the world. Various other medical service are offered
such as specialty pharmacy and laboratory services along with
manufacturing and the distribution of their dialysis equipment,
disposable products, and renal pharmaceuticals. Fresenius
Medical Care is a publicly traded company whose shares are
traded on the New York Stock Exchange under the ticker symbol
FMS. Moody’s has not rated Fresenius a credit rating, however,
its’ parents company has a credit rating of Baa3 with a stable
future outlook on the Frankfort Exchange.
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CLOSE PROXIMITY TO:
1104 Frank W Evans Way , Bennettsville, SC 29512
Parent Company Credit Rating is Baa3
Option Period Increases to be Negotiated
Situated One Block Away From Walmart
Excellent Visibility from Cottingham Blvd
Just Off of Cheraw Highway - 7,000 VPD
7,192 SF Building on 1.02 Acre Lot
Tenant in Same Location Since 2000
Bennettsville is a city located in in Marlboro
County, South Carolina. Bennettsville is
situated in northeastern South Carolina along
the Great Pee Dee River. Bennettsville is
most noted for its historic architecture from
the 19th and early 20th centuries.
Bennettsville shares its borders with the
municipalities with Tatum,. Clio, Blenheim,
Society Hill, Cheraw, Wallace, and McColl.
The major roads and highways that pass
through or near Bennettsville are Route 15.
Route 9, Route 38, Route 401, and Route
385. The subject property is approximately
10 miles from the southern border of North
Carolina.
LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX
PROPERTY NAMEFRESENIUS MEDICAL CARE
PRICING AND VALUATION MATRIX
PROPERTY NAMEFRESENIUS MEDICAL CARE
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LOCATION OVERVIEW
#
1104 Frank W Evans Way, Bennettsville, SC 29512
LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX
PROPERTY NAMEFRESENIUS MEDICAL CARE
PRICING AND VALUATION MATRIX
PROPERTY NAMEFRESENIUS MEDICAL CARE
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REGIONAL AND LOCAL MAP
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LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX
PROPERTY NAMEFRESENIUS MEDICAL CARE
PRICING AND VALUATION MATRIX
PROPERTY NAMEFRESENIUS MEDICAL CARE
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AERIAL MAP
1104 Frank W Evans Way, Bennettsville, SC 29512
PROPERTY PHOTO
FRESENIUS MEDICAL CARE
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PROPERTY PHOTO
FRESENIUS MEDICAL CARE
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FRESENIUS MEDICAL CARE
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FINANCIAL
ANALYSIS
#
PROPERTY SUMMARY
OFFERING SUMMARY
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FRESENIUS MEDICAL CARE
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OFFERING SUMMARY
NOTES: Parent Company Credit Rating is Baa3.
MARCUS & MILLICHAP CAPITAL CORPORATION
CAPABILITIES
MMCC—our fully integrated, dedicated financing arm—is committed to
providing superior capital market expertise, precisely managed execution, and
unparalleled access to capital sources providing the most competitive rates and
terms.
We leverage our prominent capital market relationships with commercial banks,
life insurance companies, CMBS, private and public debt/equity funds, Fannie
Mae, Freddie Mac and HUD to provide our clients with the greatest range of
financing options.
Our dedicated, knowledgeable experts understand the challenges of financing
and work tirelessly to resolve all potential issues to the benefit of our clients.
National platform
operating
within the firm’s
brokerage
offices
$5.1 billion
total national
volume in 2016
Access to
more capital
sources than
any other firm
in the industry
Optimum financing solutions
to enhance value
Our ability to enhance
buyer pool by expanding
finance options
Our ability to enhance
seller control
• Through buyer
qualification support
• Our ability to manage buyers
finance expectations
• Ability to monitor and
manage buyer/lender
progress, insuring timely,
predictable closings
• By relying on a world class
set of debt/equity sources
and presenting a tightly
underwritten credit file
WHY MMCC?
Closed 1,651
debt and equity
financings
in 2016
ACQUISITION FINANCING
FRESENIUS MEDICAL CARE
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FRESENIUS MEDICAL CARE
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MARKET
OVERVIEW
PROPERTY NAME
MARKETING TEAM
FRESENIUS MEDICAL CARE
DEMOGRAPHICS
Source: © 2017 Experian
Created on March 2018
POPULATION 1 Miles 3 Miles 5 Miles
2022 Projection
Total Population 2,089 12,752 14,244
2017 Estimate
Total Population 2,106 13,104 14,582
2010 Census
Total Population 2,228 13,806 15,365
2000 Census
Total Population 2,302 13,434 14,898
Current Daytime Population
2017 Estimate 2,522 10,697 12,500
HOUSEHOLDS 1 Miles 3 Miles 5 Miles
2022 Projection
Total Households 952 4,045 4,639
2017 Estimate
Total Households 950 4,126 4,707
Average (Mean) Household Size 2.34 2.44 2.45
2010 Census
Total Households 1,004 4,373 4,984
2000 Census
Total Households 1,021 4,642 5,225
Occupied Units
2022 Projection 952 4,045 4,639
2017 Estimate 1,115 5,038 5,722
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles
2017 Estimate
$150,000 or More 1.90% 2.19% 2.25%
$100,000 - $149,000 9.87% 5.28% 5.34%
$75,000 - $99,999 7.24% 6.78% 6.87%
$50,000 - $74,999 18.14% 14.19% 14.52%
$35,000 - $49,999 19.00% 16.38% 16.22%
Under $35,000 43.84% 55.18% 54.79%
Average Household Income $48,329 $42,443 $42,842
Median Household Income $40,503 $31,611 $31,810
Per Capita Income $22,883 $15,339 $16,114
HOUSEHOLDS BY EXPENDITURE 1 Miles 3 Miles 5 Miles
Total Average Household Retail Expenditure
$50,096 $45,347 $45,665
Consumer Expenditure Top 10 Categories
Housing $13,443 $12,492 $12,543
Transportation $8,957 $8,080 $8,119
Shelter $7,133 $6,757 $6,774
Food $5,383 $4,746 $4,777
Health Care $3,750 $3,315 $3,343
Personal Insurance and Pensions $3,507 $2,864 $2,893
Utilities $3,284 $3,072 $3,087
Entertainment $2,109 $1,809 $1,826
Cash Contributions $1,791 $1,583 $1,601
Gifts $1,688 $1,432 $1,455
POPULATION PROFILE 1 Miles 3 Miles 5 Miles
Population By Age
2017 Estimate Total Population 2,106 13,104 14,582
Under 20 23.22% 20.26% 20.34%
20 to 34 Years 18.80% 24.67% 24.33%
35 to 39 Years 6.82% 8.13% 8.05%
40 to 49 Years 12.52% 13.73% 13.73%
50 to 64 Years 20.30% 18.54% 18.72%
Age 65+ 18.31% 14.68% 14.83%
Median Age 40.89 38.05 38.24
Population 25+ by Education Level
2017 Estimate Population Age 25+ 1,478 9,521 10,593
Elementary (0-8) 3.28% 6.62% 6.80%
Some High School (9-11) 9.30% 18.81% 18.73%
High School Graduate (12) 39.36% 37.96% 37.86%
Some College (13-15) 20.88% 18.65% 19.02%
Associate Degree Only 7.19% 4.83% 4.94%
Bachelors Degree Only 12.46% 6.07% 5.96%
Graduate Degree 5.81% 3.37% 3.19%
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Income
In 2017, the median household income for your selected geography is
$31,810, compare this to the US average which is currently $56,286.
The median household income for your area has changed by 30.92%
since 2000. It is estimated that the median household income in your
area will be $38,264 five years from now, which represents a change
of 20.29% from the current year.
The current year per capita income in your area is $16,114, compare
this to the US average, which is $30,982. The current year average
household income in your area is $42,842, compare this to the US
average which is $81,217.
Population
In 2017, the population in your selected geography is 14,582. The
population has changed by -2.12% since 2000. It is estimated that
the population in your area will be 14,244.00 five years from now,
which represents a change of -2.32% from the current year. The
current population is 57.22% male and 42.78% female. The median
age of the population in your area is 38.24, compare this to the US
average which is 37.83. The population density in your area is 185.61
people per square mile.
Households
There are currently 4,707 households in your selected geography. The
number of households has changed by -9.91% since 2000. It is
estimated that the number of households in your area will be 4,639
five years from now, which represents a change of -1.44% from the
current year. The average household size in your area is 2.45 persons.
Employment
In 2017, there are 4,602 employees in your selected area, this is also
known as the daytime population. The 2000 Census revealed that
39.02% of employees are employed in white-collar occupations in
this geography, and 60.83% are employed in blue-collar occupations.
In 2017, unemployment in this area is 8.90%. In 2000, the average
time traveled to work was 22.00 minutes.
Race and Ethnicity
The current year racial makeup of your selected area is as follows:
32.02% White, 61.89% Black, 0.05% Native American and 0.56%
Asian/Pacific Islander. Compare these to US averages which are:
70.42% White, 12.85% Black, 0.19% Native American and 5.53%
Asian/Pacific Islander. People of Hispanic origin are counted
independently of race.
People of Hispanic origin make up 4.97% of the current year
population in your selected area. Compare this to the US average of
17.88%.
PROPERTY NAME
MARKETING TEAM
FRESENIUS MEDICAL CARE
Housing
The median housing value in your area was $76,812 in 2017, compare
this to the US average of $193,953. In 2000, there were 3,424 owner
occupied housing units in your area and there were 1,801 renter
occupied housing units in your area. The median rent at the time was
$260.
Source: © 2017 Experian
DEMOGRAPHICS
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