jiffy lube | 1619 gessner dr., houston, tx 77080

M A T T H E W S ™ 1

FEDEX FREIGHT7685 ST CLAIR AVE

MENTOR, OHIO

O F F E R I N G M E M O R A N D U M

2 FEDEX FREIGHT M E N T O R , O H

LISTED BY:


MENTOR, OHIO

BROKER OF RECORDL A R R Y B E R G M A N

L I C N O : 3 2 4 0 2 9 ( O H )

KYLER BEANA S S O C I A T E - I N D U S T R I A L

D I R : ( 2 1 4 ) 6 9 2 -2 1 9 2M O B : ( 3 2 5 ) 2 2 7- 0 8 9 3

ky l e r . b e a n @ m a t t h e w s . c o mL I C N O : 6 4 6 9 1 0 ( TX )

CHAD KURZS V P & N A T I O N A L D I R E C T O R

D I R : ( 2 1 4 ) 6 9 2 -2 9 2 7M O B : ( 5 6 2 ) 4 8 0 -2 9 3 7

c h a d . k u r z @ m a t t h e w s . c o mL I C N O : 0 1 9 1 1 1 9 8 ( C A )

JOHNNY DUNNA S S O C I A T E - I N D U S T R I A L

D I R : ( 2 1 4 ) 6 9 2 -2 1 1 4M O B : ( 8 1 7 ) 3 7 2 - 1 74 2

j o h n n y. d u n n @ m a t t h e w s . c o mL I C N O : 6 7 75 0 6 ( TX )


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EXECUTIVE OVERVIEW

FINANCIAL OVERVIEW

PROPERTY OVERVIEW

TABLE OF CONTENTS


MENTOR, OHIO

LOCATION OVERVIEW

EXECUTIVEOVERVIEW

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MENTOR, OHIO


STRONG COMMITMENT TO AREA FedEx Freight recently renovated this site for their operations including new pavement, signage, and dock shelters at their expense. In addition, FedEx executed a brand new 5-year option with one 5-year option remaining to commence February 26.

STRATEGIC LOCATION Property is one of three facilities operating in the Cleveland Metro. This property is in Jenther Industrial Park, minutes from State route 2, Interstate 90 and 271. This location provides ease of access throughout Northeast Ohio making this a strategic site for FedEx operations.

INDUSTRIAL SYNERGYSite is situated in a major industrial corridor with over 15,000,000 SF of industrial space and vacancy rates at a low 2.1%. Nearby business parks including Tyler Corporate Center, Liberty Business Park, and Mentor East Industrial. Major Tenants included Rogers Display Company, Hansa-flex USA, NHVS International Inc. and Henkel Corporation.

NATIONALLY RECOGNIZED TENANT FedEx Freight is the largest LTL Carrier in North America with an annual revenue of $6.341 Billion with over 370 service centers nationwide.

PARENT COMPANY GUARANTEE Rare FedEx Corporation guarantee on the lease with 2018 Revenues of $65.6 Billion, operation in over 220 countries, and a credit rating of BBB making this a secure Industrial asset for future ownership.

IDEAL LTL SITE This facility was built in 1991 and fully renovated for FedEx Freight in 2018. The property is 14,640 SF with 35 docks, 4.68 acres, concrete aprons, yard lights, and a fenced yard.

EASE OF OWNERSHIP Tenant handles all expenses for day to day operations. Landlord responsibilities are only roof and structure making this investment ideal for a passive owner, 1031 exchange buyer, or out of state investor.

INVESTMENT HIGHLIGHTS

PROPERTYOVERVIEW

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MENTOR, OHIO


PROPERTY SUMMARYSQUARE FOOTAGE ±14,640

LAND AREA 4.68 Acres

YEAR BUILT/RENOVATED 1991/2018

EXTERNAL ID/APN 16-B-031-D-02-012

PARKING SPACES 106 Surface Spaces

PARKING RATIO 7.24 : 1,000 SF

ZONING M-1

BUILDING CLASS C

FINANCIALOVERVIEW

08


MENTOR, OHIO


FINANCIALPRICE $3,690,425

P/SF $252.08

CAP RATE 7.75%

LEASE SUMMARY TYPE OF OWNERSHIP Fee Simple

LEASE Corporate Guarantee

LEASE TYPE NN

OPTIONS One, 5-Year Option

LEASE TERM 5 Years

ROOF/STRUCTURE Landlord Responsible

RENT ROLL TERM MONTHLY RENT ANNUAL RENT CAP RATE

2/26/2019-2/25/2024 $23,834.00 $286,008.00 7.75%

Option 1 $26,217.00 $314,604.00 8.52%

TENANT SUMMARY TENANT FedEx Freight

HEADQUARTERS Memphis, TN

FOUNDED 1971

WEBSITE www.fedex.com

FedEx Corporation provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With

annual revenues of $50 billion, the company offers integrated business applications through operating companies competing collectively and

managed collaboratively, under the respected FedEx brand. FedEx Ground is a leading North American provider of ground small-package delivery

services, providing service to the U.S. and Canada.

With extensive coverage throughout the U.S. (including Alaska and Hawaii), Canada, Mexico, and Puerto Rico as well as service to the U.S. Virgin

Islands, FedEx Freight provides less-than-truckload (LTL) choices based on customers’ shipping needs.

± 45,000TEAM MEMBERS

WORLDWIDE

± $6.8 BILLIONA N N U A L R E V E N U E

± 370 SERVICE CENTERS

± 90K MOTORIZED VEHICLES

± 115,000SHIPMENTS

(AVG DAILY VOL)


WESTERN RESERVECOMMERCE PARK

WILLOUGHBYINDUSTRIAL

PARK

LOST NATIONINDUSTRIAL

PARK

LOST NATIONCOUNTRY

CLUB

LOST NATION AIRPORT

GREAT LAKEINDUSTRIAL

PARK

JENTHERINDUSTRIAL

PARK

TYLERCORPORATE

CENTER

LIBERTYBUSINESS

PARK

LAKELANDFREEWAY

±78,000 VPD

REYNOLDSROAD

±33,000 VPD

LOCATIONOVERVIEW

12


MENTOR, OHIO


Mentor is a city in Lake County, Ohio and a far eastern suburb of Cleveland named the “100 Best Places to Live” by Money magazine in 2006 and 2010, and to Smart Money’s “Best Places to Retire in Ohio” in 2012.

The city is home to Headlands Beach State Park, the longest public swimming beach in Ohio. The city is a major center of retail stores, ranking seventh-largest in Ohio as of 2010, and restaurants, ranking eighth-largest in the state as of 2014. US 20 (Mentor Avenue) is the major retail center, which includes the Great Lakes Mall, with additional shopping and strip malls found along most major roads. Major products include medical related, polymers, plastics, electric boards and other peripherals that generally serve the computer and automation industries. Two major railroads pass through the city, CSX Transportation and Norfolk Southern.

MENTOR, OH DEMOGRAPHICSPOPULATION 1-MILE 3-MILE 5-MILE

2024 PROJECTION 3,747 49,983 106,401

2019 ESTIMATE 3,687 49,277 104,919

2010 CENSUS 3,639 48,743 104,997

HOUSEHOLDS 1-MILE 3-MILE 5-MILE

2024 PROJECTION 1,667 22,218 46,983

2019 ESTIMATE 1,641 21,885 46,300

2010 CENSUS 1,541 20,590 44,094

INCOME 1-MILE 3-MILE 5-MILE

AVERAGE HH INCOME $99,065 $88,327 $89,089


CONFIDENTIALITY AGREEMENT & DISCLAIMERThis Offering Memorandum contains select information pertaining to the business and affairs of FedEx Freight located in 7685 St Clair Ave, Mentor, OH (“Property”). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.

By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

1 . The Offering Memorandum and its contents are confidential;2. You will hold it and treat it in the strictest of confidence; and3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or

its contents in any fashion or manner detrimental to the interest of the Seller.

Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.



MENTOR, OHIO

O F F E R I N G M E M O R A N D U M

LISTED BY:

BROKER OF RECORDL A R R Y B E R G M A N

L I C N O : 3 2 4 0 2 9 ( O H )

KYLER BEANA S S O C I A T E - I N D U S T R I A L

D I R : ( 2 1 4 ) 6 9 2 -2 1 9 2M O B : ( 3 2 5 ) 2 2 7- 0 8 9 3

ky l e r . b e a n @ m a t t h e w s . c o mL I C N O : 6 4 6 9 1 0 ( TX )

CHAD KURZS V P & N A T I O N A L D I R E C T O R

D I R : ( 2 1 4 ) 6 9 2 -2 9 2 7M O B : ( 5 6 2 ) 4 8 0 -2 9 3 7

c h a d . k u r z @ m a t t h e w s . c o mL I C N O : 0 1 9 1 1 1 9 8 ( C A )

JOHNNY DUNNA S S O C I A T E - I N D U S T R I A L

D I R : ( 2 1 4 ) 6 9 2 -2 1 1 4M O B : ( 8 1 7 ) 3 7 2 - 1 74 2

j o h n n y. d u n n @ m a t t h e w s . c o mL I C N O : 6 7 75 0 6 ( TX )

jiffy lube | 1619 gessner dr., houston, tx 77080

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