putnam county single tenant investment opportunity

12
Putnam County Single Tenant Investment Opportunity 1221 S. Willow Avenue Cookeville, Tennessee Sharon Greaves, VP Debra Viol, President [email protected] [email protected] (615) 585-3004 (615) 373-9507 5203 Maryland Way, Suite 100, Brentwood, TN 37027 615-373-9507 • www.stantongroupinc.com

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Address: 1221 South Willow Ave. Cookeville, TN 38506 Building One: Built in 1986 2—Story Brick 9,687 SF Building Two: Built in 1987 1—Story Brick 4,386 SF Building Three: Built in 2012 Detached Storage/Garage 414 SF Total: 14,487 SF Site: 1.38 Acres The building foundations and infrastructure are designed to increase Building One by an additional floor and Build-ing Two by an additional two floors each, adding another 13,616 SF Elevator is designed for 3 floors and will actually go to the 3rd floor; a $5,000 to $6,000 cost savings. Credit Tenant: State of Tennessee Department of Environment and Conservation (TDEC) Lease expires June 2022

Building Data

Building Survey

Building One

First Floor Plan

Building One

Second Floor Plan

Building Two

Floor Plan

Demographics

The cities of Algood, Baxter, Cookeville and Monterey are located in Putnam County Cookeville is the County seat and is the 22nd most populated City in the state of Tennessee out of 427 cities

Quick Facts:

Cookeville (City) Putnam County

2014 2010 2014 2010

Population: 31,917 30,435 75,324 72,321

Unemployment Rate (%): 6.3 7.7 7.2 8.7

Median Household Income: $ 31,338 $29,789 $36,152 $33,092

Cookeville is home to : 1.6 Million SF Academy Distribution Center (700 new jobs)

270,000 SF Ficosa Distribution Center (400 new jobs)

Oreck Manufacturing (employs 500 people)

Averitt Express

TVA-based inventory of facilities and land

Tennessee Technological University

Cookeville High School, the largest non-metropolitan school

in the state

Nashville State Community Collage Campus

Burgess Falls State Park

Cummins Falls State Park

Cane Creek Park

Investment Highlights

The Highlands

Business Park

provides employers with

224 buildable acres of ecologically engi-

neered and ideally located real estate for

their businesses in the heart of the Upper

Cumberland.

The Highlands Business Park was de-

signed with sustainability applications to

exist in productive harmony within the

site's natural environment.

When you consider Cookeville-Putnam

County's other civic benefits, like the re-

gion's urban resources and rich culture,

you'll find that the Highlands Business

Park is an ideal setting for your company

to innovate, elevate and accelerate.

Academy Sports + Outdoors began

construction on its new 1.6 million

square foot distribution facility in Au-

gust 2014 and plans to become opera-

tional in early 2016. The site is located

south of Old Stewart Road along Inter-

state 40 on the west side of Cookeville.

The premier sports, outdoors and life-

style retailer will invest $100 million

and create approximately 700 new jobs

in Cookeville, Putnam County.

Ficosa announced in May 2015 that it

would be building a new 270,000 square

foot plant at Highlands Industrial Park

that will have the capacity to produce

4.5 million rear view mirrors for Ford,

Chrysler, General Motors, Volkswagen

and Nissan annually, bringing an addi-

tional 400 jobs to Cookeville.

“Tennessee’s strength in transportation and

logistics paired with its ideal central location

make our state a stand out choice for companies

that deliver quality products to their

customers each and every day.”

- Bill Hagerty, former Tennessee Economic and

Community Development Commissioner

Companies that locate in Putnam County enjoy a number of distinct advantages, including excellent access to

interstate systems, competitive incentive packages, a ready and trainable workforce, access to acclaimed uni-

versity resources, and several business parks nearing completion. Put it all together, and you have the formula

for a great place to live and do business.

- Cookeville-Putnam County Chamber of Commerce

Mine Lick Creek Interchange

The proposed Mine Lick Creek Interchange,

located at I-40 approximately 2.82 miles west

of the existing I-40/SR-135 Interchange, is

expected to be completed in 2016. The pro-

ject would begin with an interchange at the

existing location of Mine Lick Creek Road on

I-40, and extend north and east, connecting

with US-70N/SR-24 approximately 0.9 miles

west of the Cookeville City Limits. The pro-

posed route would be approximately 2.9 miles

in length.

The Interchange project is being managed by

the Tennessee Department of Transportation

(TDOT), the Local Interstate Connector pro-

ject will be managed by the City of

Cookeville.

The project is included in the City of

Cookeville Major Thoroughfare Plan, as

adopted by the Cookeville Planning Commis-

sion and City Council in 2000, and the Com-

prehensive Future Land Use Plan.

The termini for this project will provide com-

plementary and logical linkage to the existing

roadways (I-40 and US 70N) in the area and

reduce traffic volumes on existing roadways

within the project area. http://www.mustseecookeville.com/

Location Data

Cookeville, Tennessee,

“Hub of the Upper Cumberlands”

is located on the Highland Rim, just off of Interstate 40

77 miles East of Nashville • 102 miles West of Knoxville • 90 miles North of Chattanooga

Aerial Map

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, D

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thro

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ts B

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, T

he

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”) w

ill

pro

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wit

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erta

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info

r-

mat

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in c

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ar i

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aid f

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close

r,

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good

and

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atio

n,

the

rece

ipt

and

suff

icie

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h

is

her

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led

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, D

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d R

ecip

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her

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gre

e as

foll

ow

s:

1.

For

purp

ose

s of

this

Agre

emen

t, t

he

term

“C

onfi

den

tial

In

form

atio

n”

shal

l in

clude

all

finan

-

cial

and o

ther

info

rmat

ion,

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yse

s or

report

s per

tain

ing t

o t

he

Pro

per

ty f

urn

ished

by D

iscl

ose

r, o

r it

s B

ro-

ker

, to

Rec

ipie

nt

and a

ny a

nd a

ll a

nal

yse

s, p

roje

ctio

ns,

cust

om

ers,

cli

ents

, le

tter

s, m

emos,

rep

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tions

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onfi

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rmat

ion o

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ther

eof

or

der

ivat

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whet

her

su

ch i

nfo

r-

mat

ion i

s des

ignat

ed a

s “C

onfi

den

tial

In

form

atio

n”

at t

he

tim

e of

its

dis

closu

re.

2.

Rec

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l use

the

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den

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In

form

atio

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nly

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lati

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wit

h D

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Rec

ipie

nt

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l li

mit

dis

closu

re o

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onfi

den

tial

In

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n w

ithin

its

ow

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izat

ion t

o i

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dir

ecto

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ers,

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. F

urt

her

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anner

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roduce

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ose

, pro

vid

e or

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erw

ise

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aila

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an

y

Confi

den

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In

form

atio

n t

o a

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hir

d p

arty

ex

cept

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legal

counse

l, o

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dvis

ors

who h

ave

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d t

o k

now

for

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ed t

o d

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her

to e

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to a

purc

has

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rela

ting t

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per

ty.

Rec

ipie

nt

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l hav

e sa

tisf

ied

its

obli

gat

ions

under

this

par

agra

ph

if

it t

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aff

irm

ativ

e m

easu

res

to

ensu

re c

om

pli

ance

wit

h t

hes

e co

nfi

den

tial

ity o

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by i

ts e

mplo

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gen

ts,

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nd o

ther

s

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re p

erm

itte

d a

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or

use

of

the

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den

tial

Info

rmat

ion.

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This

Agre

emen

t im

pose

s no o

bli

gat

ion u

pon R

ecip

ient

wit

h r

espec

t to

an

y C

onfi

den

tial

Info

r-

mat

ion (

a) t

hat

was

in R

ecip

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s poss

essi

on b

efore

rec

eipt

from

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close

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b)

is o

r bec

om

es a

mat

ter

of

publi

c know

ledge

thro

ugh n

o f

ault

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ipie

nt;

(c)

is

rightf

ull

y r

ecei

ved

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ecip

ient

from

a t

hir

d p

arty

not

ow

ing a

du

ty o

f co

nfi

den

tial

ity t

o t

he

Dis

close

r; (

d)

is d

iscl

ose

d w

ithout

a duty

of

confi

den

tial

ity t

o a

th

ird

par

ty b

y,

or

wit

h t

he

auth

ori

zati

on o

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iscl

ose

r; o

r (e

) is

indep

enden

tly d

evel

oped

by R

ecip

ient

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Dis

close

r w

arra

nts

that

he/

she

has

the

right

to m

ake

the

dis

closu

res

under

this

Agre

emen

t.

6.

This

Agre

emen

t sh

all

not

be

const

rued

as

crea

tin

g,

conveyin

g, tr

ansf

erri

ng,

gra

nti

ng o

r co

nfe

r-

ring u

pon t

he

Rec

ipie

nt

any r

ights

, li

cense

or

auth

ori

ty i

n o

r to

the

info

rmat

ion e

xch

anged

, ex

cept

the

lim

ited

right

to u

se C

onfi

den

tial

In

form

atio

n s

pec

ifie

d i

n p

arag

raph 2

.

Pag

e 1 o

f 2

7.

Both

par

ties

ack

no

wle

dge

and a

gre

e th

at t

he

exch

ange

of

info

rmat

ion u

nder

this

Agre

emen

t

shal

l n

ot

com

mit

or

bin

d e

ither

par

ty t

o a

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rese

nt

or

futu

re c

ontr

actu

al r

elat

ionsh

ip (

exce

pt

as s

pec

ific

ally

stat

ed h

erei

n),

nor

shal

l th

e ex

chan

ge

of

info

rmat

ion b

e co

nst

rued

as

an i

nduce

men

t to

act

or

not

to a

ct i

n a

ny

giv

en m

ann

er.

8.

Nei

ther

par

ty s

hal

l be

liab

le t

o t

he

oth

er i

n a

ny m

anner

wh

atso

ever

for

any d

ecis

ions,

obli

ga-

tions,

cost

s or

expen

ses

incu

rred

, ch

anges

in

busi

nes

s pla

ns,

org

aniz

atio

n,

or

oth

erw

ise,

bas

ed o

n e

ither

par

ty’s

dec

isio

n t

o u

se o

r re

ly o

n a

ny i

nfo

rmat

ion e

xch

anged

und

er t

his

Agre

emen

t.

9.

It i

s fu

rther

under

stood a

nd a

gre

ed t

hat

money d

amag

es w

ould

not

be

a su

ffic

ient

rem

edy f

or

any b

reac

h o

f th

is A

gre

emen

t b

y R

ecip

ient

and t

hat

Dis

close

r sh

all

be

enti

tled

to e

quit

able

rel

ief,

incl

udin

g

inju

nct

ion a

nd s

pec

ific

per

form

ance

, w

ithout

the

nec

essi

ty o

f pro

vin

g i

rrep

arab

le h

arm

, as

a r

emed

y f

or

any

such

bre

ach.

Such

rem

edie

s sh

all

not

be

dee

med

to b

e th

e ex

clusi

ve

rem

edie

s fo

r a

bre

ach b

y R

ecip

ient

of

this

Agre

emen

t but

shal

l be

in a

ddit

ion t

o a

ll o

ther

rem

edie

s av

aila

ble

at

law

or

equit

y t

o D

iscl

ose

r.

In t

he

even

t o

f

liti

gat

ion

re

lati

ng

to

this

A

gre

emen

t,

if

a co

urt

of

com

pet

ent

juri

sdic

tion

det

erm

ines

th

at

Rec

ipie

nt

has

bre

ach

ed t

his

Agre

emen

t, t

hen

Rec

ipie

nt

shal

l be

liab

le t

o p

ay t

o D

iscl

ose

r th

e re

asonab

le l

egal

fee

s in

curr

ed

by D

iscl

ose

r in

connec

tion w

ith s

uch

lit

igat

ion, in

cludin

g a

ny a

pp

eal

ther

efro

m.

10.

This

Agre

emen

t st

ates

the

enti

re a

gre

emen

t bet

wee

n t

he

par

ties

con

cern

ing t

he

dis

closu

re o

f

Confi

den

tial

Info

rmat

ion a

nd s

uper

sedes

an

y p

rio

r ag

reem

ents

, under

stan

din

gs,

or

rep

rese

nta

tions

wit

h r

espec

t

ther

eto.

An

y a

ddit

ion o

r m

odif

icat

ion t

o t

his

Agre

emen

t m

ust

be

mad

e in

wri

ting a

nd s

igned

by a

uth

ori

zed

repre

senta

tives

of

both

par

ties

. T

his

Agre

emen

t is

mad

e under

and s

hal

l be

const

rued

acc

ord

ing t

o t

he

law

s of

the

Sta

te o

f T

ennes

see,

U.S

.A.

In t

he

even

t th

at t

his

Agre

emen

t is

bre

ach

ed;

any a

nd a

ll d

ispu

tes

must

be

set-

tled

in

a c

ourt

of

com

pet

ent

juri

sdic

tion i

n t

he

Sta

te o

f T

ennes

see,

U.S

.A.

11.

Upo

n c

om

ple

tion o

f th

is r

evie

w,

but

in n

o e

ven

t la

ter

than

six

ty (

60)

days

afte

r th

e d

ate

her

eof,

if D

iscl

ose

r an

d R

ecip

ient

do n

ot

for

any r

easo

n w

hat

soev

er e

nte

r in

to a

purc

has

e ag

reem

ent

rela

ting t

o t

he

Pro

per

ty,

or

imm

edia

tely

upon D

iscl

ose

r’s

reques

t, R

ecip

ient

agre

es t

o r

eturn

an

y a

nd a

ll C

onfi

den

tial

In

for-

mat

ion t

o D

iscl

ose

r.

12.

Rec

ipie

nt’

s obli

gat

ion w

ith r

espec

t to

the

confi

den

tial

ity a

nd s

ecuri

ty o

f th

e C

onfi

den

tial

Info

r-

mat

ion s

hal

l co

nti

nue

for

a per

iod o

f th

ree

(3)

yea

rs f

rom

the

dat

e of

this

Agre

emen

t an

d s

hal

l su

rviv

e th

e te

r-

min

atio

n o

f an

y o

ther

agre

emen

t or

rela

tionsh

ip b

etw

een D

iscl

ose

r an

d R

ecip

ient.

IN W

ITN

ES

S W

HE

RE

OF

, th

e par

ties

hav

e ca

use

d t

his

Agre

emen

t to

be

exec

ute

d a

s of

the

dat

e se

t

fort

h a

bove.

Rec

ipie

nt:

D

iscl

ose

r:

By:

B

y:

Nam

e:

N

ame:

Tit

le:

T

itle

:

Pag

e 2 o

f 2