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Offering Memorandum

PIGGLY WIGGLY123 Main St • Gordon, GA 31031

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.

PIGGLY WIGGLY

Gordon, GA

ACT ID ZAA0280424

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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 03Demographic Analysis

PIGGLY WIGGLY

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PIGGLY WIGGLY

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INVESTMENT

OVERVIEW

#

EXECUTIVE SUMMARY

OFFERING SUMMARY

#

PIGGLY WIGGLY

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PIGGLY WIGGLY

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OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER# OF EMPLOYEES

*

BASF Corporation 368

Nephrology Department 121

Piggly Wiggly 70

Choice Trnsp Middle GA LLC 60

Technical College System 57

Professional Nursing Services 50

W K A LLC 50

Sellers Construction Co LLC 45

City of Gordon 29

Martin Indus & Mech Contrs 27

Bloodworth Pallet Co 15

Goodwork Construction Co Inc 15

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2018 Estimate Pop 1,225 3,263 4,474

2010 Census Pop 1,253 3,343 4,599

2018 Estimate HH 489 1,249 1,695

2010 Census HH 503 1,286 1,751

Median HH Income $43,318 $42,341 $43,090

Per Capita Income $20,740 $19,444 $19,739

Average HH Income $51,903 $50,810 $52,094

* # of Employees based on 5 mile radius

FINANCING

Down Payment All Cash

Net Cash Flow 10.52% / $126,254

Cash on Cash Return 10.52%

Total Return 10.52% / $126,254

OFFERING SUMMARY

Price $1,200,000

Net Operating Income $126,254

Capitalization Rate – Current 10.52%

Price / SF $59.24

Rent / SF $6.23

Lease Type Absolute Net

Gross Leasable Area 20,257 SF

Year Built / Renovated 1982

Lot Size 2 acre(s)

PIGGLY WIGGLY

OFFERING SUMMARY

Absolute NNN Single Tenant Grocer

Half Mile From BASF Factory, The Largest Chemical Producer In The World

Only Grocery Store Servicing The Community – Nearest Piggly Wiggly 15 Miles Away

Long Term History as a Grocer Since 1982

Fee Simple Ownership

Large 2 Acre Parcel

Guaranteed By HAC Inc; Operates 74 Stores Under 8 Banners As Well As 21

Pharmacies And 9 Fuel Centers

Piggly Wiggly Reports Sales – Contact Agent For Further Details

INVESTMENT HIGHLIGHTS

Marcus & Millichap is pleased to exclusively list a single tenant retail building located in Gordon (Wilkinson County), Georgia. The subject

property is 100 % occupied by Piggly Wiggly which has been in the same location since 2012 with the property operating as a grocery store

since 1982. The approximately 20,257 square foot building is located at 123 Main Street and is within proximity to many national retail

tenants, highways, public transit, and multi family residential communities. This location is guaranteed by HAC, Inc. (http://hacretail.com/)

which is currently operating 74 stores.

Gordon is a city in Wilkinson County, Georgia, United States. As of the 2000 census, the city population was 2,152. Located in the center of

the Kaolin Belt, the City of Gordon was founded as a depot on the Central of Georgia Railway. Gordon is the largest city in Wilkinson county

and the main industry is the manufacturing of kaolin, which is used worldwide. The city was named after William Washington Gordon, a

railroad official. The median income for a household in the city was $32,891, and the median income for a family was $39,189. Males had a

median income of $33,661 versus $20,968 for females. The per capita income for the city was $13,771. About 19.3% of families and 21.4%

of the population were below the poverty line, including 30.4% of those under age 18 and 15.9% of those age 65 or over.

INVESTMENT OVERVIEW

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TENANT SUMMARY

#

Fiscal Year Ended December 31, 2016

Piggly Wiggly Midwest, LLC

CREDIT RATING:

N.A.

www.fdreports.com | www.creditntell.com | December 31, 2016

PRICING AND VALUATION MATRIX

PROPERTY NAMEPIGGLY WIGGLY



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TENANT SUMMARY

General Information

Address2215 Union Avenue , Sheboygan, Wisconsin, 53081, United States

Phone 920-457-4433

Store Base

Store Count 118

TTM Sales $760,000,000

Key Personnel

Controller Thomas Johnson

Chief Financial Officer Michael Isken

Chief Executive Officer & Chairman Paul Butera

Chief Operating Officer Gary Suokko

Financial Markets

Stock Ticker PRIVATE

Current Price N.A. as of 4/1/19

52 Week High/Low $0.00 / $0.00

AERIAL PHOTO

PIGGLY WIGGLY

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#

123 Main St, Gordon, GA 31031

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX




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REGIONAL AND LOCAL MAP

PIGGLY WIGGLY

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FINANCIAL

ANALYSIS

#

PROPERTY SUMMARY

OFFERING SUMMARY

#

NOTES

PIGGLY WIGGLY

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OFFERING SUMMARY

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

$6.24 billion

billion total

national

volume in 2018

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 1,678

debt and equity

financings

in 2018

ACQUISITION FINANCING

PIGGLY WIGGLY

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PIGGLY WIGGLY

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MARKET

OVERVIEW

PROPERTY NAME

MARKETING TEAM

PIGGLY WIGGLY

DEMOGRAPHICS

Source: © 2018 Experian

Created on April 2019

POPULATION 1 Miles 3 Miles 5 Miles

2023 Projection

Total Population 1,193 3,184 4,424

2018 Estimate


2010 Census


2000 Census


Current Daytime Population

2018 Estimate 472 1,375 1,857

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

2023 Projection

Total Households 478 1,225 1,687

2018 Estimate


Average (Mean) Household Size 2.68 2.67 2.66

2010 Census


2000 Census


Occupied Units

2023 Projection 478 1,225 1,687

2018 Estimate 579 1,504 2,033

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

2018 Estimate

$150,000 or More 1.72% 1.72% 2.08%

$100,000 - $149,000 5.72% 5.68% 6.73%

$75,000 - $99,999 13.59% 11.81% 11.60%

$50,000 - $74,999 23.69% 23.53% 23.29%

$35,000 - $49,999 14.10% 16.96% 16.88%

Under $35,000 41.19% 40.30% 39.41%

Average Household Income $51,903 $50,810 $52,094

Median Household Income $43,318 $42,341 $43,090

Per Capita Income $20,740 $19,444 $19,739

HOUSEHOLDS BY EXPENDITURE 1 Miles 3 Miles 5 Miles

Total Average Household Retail Expenditure

$54,519 $52,985 $53,584

Consumer Expenditure Top 10 Categories

Housing $15,010 $14,402 $14,502

Transportation $11,227 $10,932 $11,050

Shelter $7,907 $7,617 $7,667

Food $5,326 $5,222 $5,290

Personal Insurance and Pensions $4,274 $4,036 $4,110

Health Care $4,028 $3,833 $3,856

Utilities $3,904 $3,758 $3,772

Entertainment $2,101 $2,082 $2,133

Household Furnishings and Equipment

$1,631 $1,513 $1,532

Cash Contributions $1,591 $1,463 $1,448

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

Population By Age

2018 Estimate Total Population 1,225 3,263 4,474

Under 20 27.29% 27.17% 26.72%

20 to 34 Years 17.67% 17.66% 17.38%

35 to 39 Years 5.34% 5.37% 5.47%

40 to 49 Years 10.63% 10.53% 10.83%

50 to 64 Years 21.15% 21.53% 21.94%

Age 65+ 17.93% 17.72% 17.67%

Median Age 39.71 39.79 40.42

Population 25+ by Education Level

2018 Estimate Population Age 25+ 817 2,182 3,021

Elementary (0-8) 3.89% 4.37% 4.11%

Some High School (9-11) 10.41% 10.13% 10.51%

High School Graduate (12) 45.73% 45.96% 45.76%

Some College (13-15) 20.89% 20.72% 20.32%

Associate Degree Only 6.82% 6.57% 6.59%

Bachelors Degree Only 8.71% 7.70% 7.86%

Graduate Degree 3.31% 4.06% 4.26%

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Income

In 2018, the median household income for your selected geography is

$43,090, compare this to the US average which is currently $58,754.

The median household income for your area has changed by 17.37%

since 2000. It is estimated that the median household income in your

area will be $48,702 five years from now, which represents a change

of 13.02% from the current year.

The current year per capita income in your area is $19,739, compare

this to the US average, which is $32,356. The current year average

household income in your area is $52,094, compare this to the US

average which is $84,609.

Population

In 2018, the population in your selected geography is 4,474. The

population has changed by -5.05% since 2000. It is estimated that

the population in your area will be 4,424.00 five years from now,

which represents a change of -1.12% from the current year. The

current population is 48.27% male and 51.73% female. The median

age of the population in your area is 40.42, compare this to the US

average which is 37.95. The population density in your area is 56.97

people per square mile.

Households

There are currently 1,695 households in your selected geography. The

number of households has changed by -5.31% since 2000. It is

estimated that the number of households in your area will be 1,687

five years from now, which represents a change of -0.47% from the

current year. The average household size in your area is 2.66 persons.

Employment

In 2018, there are 1,280 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

46.27% of employees are employed in white-collar occupations in

this geography, and 53.53% are employed in blue-collar occupations.

In 2018, unemployment in this area is 6.00%. In 2000, the average

time traveled to work was 26.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

64.54% White, 32.22% Black, 0.01% Native American and 0.92%

Asian/Pacific Islander. Compare these to US averages which are:

70.20% White, 12.89% Black, 0.19% Native American and 5.59%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 1.17% of the current year

population in your selected area. Compare this to the US average of

18.01%.

PROPERTY NAME

MARKETING TEAM

PIGGLY WIGGLY

Housing

The median housing value in your area was $77,359 in 2018, compare

this to the US average of $201,842. In 2000, there were 1,497 owner

occupied housing units in your area and there were 292 renter

occupied housing units in your area. The median rent at the time was

$273.

Source: © 2018 Experian

DEMOGRAPHICS

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