total 58,035 sf · 2017. 8. 24. · daniel mcphail property features • two well-maintained...

Memphis, Tennessee 38116

For more information:

901 526 3100 • [email protected] Califf, CCIM

901 526 3100 • [email protected] McPhail

Property Features• Memphis, TN Single Tenant Office Portfolio

• Portfolio 100% leased to Performance Properties

• Annual in place Rent well below market at $5.96 per footNNN

• Priced significantly below replacement cost at $58 perfoot

• 10.2% cap rate on in place income

• Performance Properties operates executive suites out ofall locations and is willing to execute a new 5 year leaseat closing

• Absolute NNN lease structure

Single Tenant Office Portfolio

NAI Saig Company5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120901 526 3100

NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OFTHE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS,OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE ORFINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONSIMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THECONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED. saigcompany.com

For Sale

Office InvestmentTotal 58,035 SF

NAI Saig Company | 5860 Ridgeway Center Parkway Suite 400, Memphis, TN 38120 | 901 526 3100saigcompany.com

Tenant Information

Performance Properties is a multifaceted real estate companythat has successfully operated executive office suites for the past15 years. They have a track record of success operating at thesubject properties. They are willing to execute and personallyguarantee a new five year lease at closing based on the enclosedfinancial terms.

Location Overview & Investment Highlights

Positioned in the southeast and southwest office submarkets. Allbuildings are within 5 miles of the Memphis InternationalAirport. The buildings are in close proximity near the EastMemphis office submarket. All properties are located in densecommercial areas with easy access to interstate systems

New 5 year lease termStable cash flowLow basis in the buildings

Property Summary

For Sale

Office Investment

Sale Price: $3,400,000

Cap Rate: 10.2%

NOI: $356,000

# Of Tenants 1 tenant for all 4locations

Lot Size: 6.6 Total Acres

Building Size: 58,035 Total SF

Building Class: B

Year Built: Between 1985 - 1991

TenantName PerformanceProperties,LLC

LeaseGuaranty PerformancePropertiesownerwillpersonallyguaranteethelease

TotalPortfolioSquareFootage 58,035

LeaseTerm 5Years–ExecutedatClosing

AnnualNetOperatingIncome $346,000.00

NetRentPerFoot $5.96

SalePrice $3,400,000.00

PricePerFoot $58.59

CapRate 10.2%PropertyAddresses SquareFootage3145&3155HickoryHillRoad 34,3845395&5405FoxPlazaDrive 14,4006089AppleTreeDrive 4,2845090Millbranch 4,967


For Sale

Income Analysis





Property Features

• Well maintained multi tenant office building

• 4,284 SF Free standing building

• Lot size: 0.4 acres

• Recently renovated

• Conveniently located in close proximity to Bill Morris

Parkway off of the Ridgeway Rd exit.

• Near the intersection of Ridgeway Road and Mt Moriah

Road

6089 Apple Tree Rd



For Sale

Office Building4,284 SF


For Sale

6089 Apple Tree





Property Features

• Two well-maintained adjoining multi tenant office

buildings for sale

• 34,384 Total SF

• Lot size: 3.4 total acres

• Recently updated roofs

• Two, two-story buildings that are elevator - served

• Located close to Bill Morris Parkway and near the

intersection of Hickory Hill Road and Knight Arnold Road

3145 & 3155 Hickory Hill Rd



For Sale

Office Buildings34,384 Total SF


For Sale

3145/3153 Hickory Hill Rd





Property Features

• Two well-maintained adjoining multi tenant office

buildings

• 14,400 Total SF

• Lot size: 1.3 total acres

• Recently updated roofs

• Conveniently located near I-240 and Bill Morris Parkway

• Near intersection of Mt. Moriah Road and S Mendenhall

Road

5395 & 5404 Fox Plaza Dr



For Sale

Office Buildings14,400 Total SF


For Sale

5395/5405 Fox Plaza Dr





Property Features

• Updated and well-maintained office building

• 4,967 SF free standing building

• Lot size: 1.5 acres

• Conveniently located close to I-55

• Near the intersection of Millbranch Road and E Holmes

Road.

5090 Millbranch



For Sale

Office Building4,967 SF


For Sale

5090 Millbranch

Memphis Market Overview • Perched on the buffs above the Mississippi River, Memphis occupies the southwest corner of Tennessee.

Memphis is the birthplace of Rock n’ Roll, the home of the blues and the home to three fortune 500 companies: Federal Express Corporation with 32,000 employees, International Paper, and Autozone.

• Entertainment and nightlife is a dominant attraction for the Memphis area for tourists and residents. Residents can experience an NBA game with the Memphis Grizzlies at the FedEx Forum, a Redbirds AAA baseball game at Autozone Park, a Broadway show at the historic Orpheum Theater, or experience the local music scene at the numerous clubs and restaurants of the Downtown Beale Street Entertainment District. Visitors can also stay in one of Memphis’ premiere Four Diamond hotels, such as the historic Peabody Hotel, the Madison Hotel, and the River Inn at Harbor Town.

• As “America’s Distribution Center,: Memphis is a regional and national supply chain and logistics hub due to its central location and excellent transportation network that includes seven federal highways and two interstate systems. The city is hoe to the worlds second largest air cargo airport, the second largest port on the Mississippi River and the third largest rail center in the US. Interstate 69, a new transportation artery running from Canada through Memphis to Mexico, will further improve the Memphis MSA transportation infrastructure.

For Sale Downtown Office Building


For Sale

Value Add Retail Investment


For Sale

Office Investment

Economic Strength and Stability • The City of Memphis is the headquarters location of several Fortune

500/1000 companies. Including FedEx, AutoZone, International Paper, and ServiceMaster. Wallet Hub ranked Memphis 5th in their ”2014 Best Cities to Start a Business” listing.

• Memphis is home to nonprofit world leaders, including internationally renowned childhood disease center, St. Jude Children’s Research Hospital and Ducks Unlimited.

Market at a Glance

Major Population Center• The Memphis MSA is an eight0county area ranked as

the nation’s 41st largest with an estimated population of 1.3 million (U.S.. Census Bureau, 2013 Estimates)

• While its amenities are comparable to other major cities in the US, the cost of living in Memphis is nearly 14% below the national metro average. Forbes recognized Memphis as the second most affordable city in the nation.

• Forty-two (42%) of the United States population lives within one-day drive of Memphis and all forty-eight (48) contiguous states are reachable within three days.

Key Transportation and Logistics Hub• As one of only four cities in the US that possess 5 Class I rail

systems, Memphis offers prominent rail carriers a strategic location for their intermodal facilities based upon its proximity to the majority of the nation’s population. Memphis was ranked as the “Top Logistics, Distribution, and Shipping Hub in the US.”

• Memphis s the 3rd largest rail center in the US behind Chicago and St. Louis.

• Memphis International Airport serves nearly 10 million passengers a year with more than 80 passenger flights daily, with direct service to 40 destinations. The airport ships over 3.5 million metric tons of cargo per year, garnering the title of the world’s busiest cargo airport in North America for 22 years.


For Sale



For Sale

Office Investment

Memphis Businesses • The central geographic location of the city combined with its competitive tax structure allows Memphis to

draw quality businesses. Chief Executive Group named Tennessee the “4th Best State for Business 2012.” FedEx Corporation, the city’s largest employer with 32,000 employees, joins other Fortune 500 Companies currently headquartered in the city: International Paper and Autozone. Memphis’ corporate citizens include world-renowned companies:

• ServiceMaster (Global Headquarters)• First Tennessee (World HQ)• Hilton Hotels (Divisions HQ) • Hunter Fan (World HQ)• Nike (Major Operations)• Wright Medical Technologies (World HQ)• Youth Villages (World HQ)

(FedEx Global Headquarters)

(AutoZone Headquarters)

(First Tennessee World HQ)


For Sale



For Sale

Office Investment

total 58,035 sf · 2017. 8. 24. · daniel mcphail property features • two well-maintained...

Documents