3719 n. oracle rd, tucson, az€¦ · exclusive listing agent: investment higlights area overview ....
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3719 N. Oracle Rd, Tucson, AZ
NANCY MCCLURE 1 520 323 [email protected]
© 2019 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. Any projections, opinions, or estimates are subject to uncertainty. The information may not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.
Exclusive Listing Agent:
INVESTMENT HIGLIGHTS AREA OVERVIEW PROPERTY OVERVIEW TENANT OVERVIEW FINANCIALS
1 3 4 5 7
N. ORACLE ROAD
TUCSON MALLAnchor Tenants: Dillard’s, Macy’s, Sears, JCPenney,
Forever 21, Dick’s Sporting Goods 154 Retail Stores
Tucson Auto Mall
N
61,000 VPD
PAG (2012)
INVESTMENT SUMMARY OFFERING PRICE
OCCUPANCY
NOI (YEAR 1)
CAP RATE (YEAR 1)
LEASE EXPIRATION
TOTAL BUILDING AREA
TOTAL LAND AREA
INVESTMENT HIGHLIGHTS » 100% occupied, corporate NNN Lease with Boot Barn
» Boot Barn (formerly Western Wearhouse) has been operating in this location since 1985.
» Store sales $1.27 million (2017-Source: Esri)
» Building interior renovated by Boot Barn in 2013.
» Regional Retail Hub - location in the Tucson Mall regional retail hub.
» Store size is Boot Barn’s current prototype size.
100%
1
±14,000*
±20,246 SF*
BOOT BARN / 3719 N. ORACLE ROAD / Tucson, Arizona
$1,600,000
$120,000
7.5%
1/31/2021
PARKING SPACES Cross-parking spaces with shopping center
*according to the Lease.
INVESTMENT HIGHLIGHTS (continued)
2
» Debt-Free – Boot Barn is marketed free and clean of existing financing
» Oracle Road is a state highway that traverses N/S from downtown CBD past Tucson Mall and other retail/office beyond Oro Valley to outskirts of the state
» Close to Interstate-10 from Prince Road, this location is convenient to a wide trade area, including affluent shoppers from Mexico
» Nationally-recognized brand with some 218 stores in 31 states
TEN MILE REGIONAL TRADE AREA DEMOGRAPHICS
2018 Estimated Populatiion 2023 Projected Population
Growth 2018-2023 Projected
2018 Estimated Median Age
2018 Estimated Households
2018 EstimatedAverage HH Income
639,949
659,766
0.61%
36.9
260,195
$65,887
Source: Esri, 2018
Area Overview
3
Tucson Tucson is the second largest metropolitan area in Arizona with over one million residents and serves as an anchor to business located in the Southern Arizona corridor. Tucson offers its community an outstanding quality of life, along with low cost for doing business. Tucson is known for an innovative manufacturing industry in a variety of different sectors such as biotech, aerospace, healthcare, defense, optics, solar, information technology and water. Just 60 miles from the Mexico border with high-capacity border and transportation infrastructure, Tucson is the best option for companies doing business in the United States.
Southern Arizona can be compared to some of the most affordable markets west of the Mississippi which allows Tucson a competitive edge compared to other markets in the west. With Cost of Living Index at 97.1 (source: ACCRA Cost of Living Index, 2014), Tucson locals can enjoy a high-quality lifestyle that is far less expensive than other comparable markets like Las Vegas, Denver and San Diego.
The structure for tax in Arizona allows it to be business-friendly as well as competitive, along with worker’s compensation and unemployment insurance being one of the lowest in the United States. Factors such as decreasing individual tax burden and low flat-rate corporate tax allow Arizona to gain a competitive advantage.
TUCSON TOP EMPLOYERS Rank Employer # of Employees
1
2
3
4
5
6
7
8
9
University of Arizona 13,160
Raytheon Missile Systems 10,625
Banner - University Medical Center
Davis-Monthan Air Force Base 10,630
Freeport-McMoran Copper & Gold
7,060
Tucson Unified School District 6,770
U.S. Customs and Border Protection
6,210
Walmart
5,739
Pima County
5,500
5,530
Source: Arizona COG/MPO Employee Database 2018
Tenant Overview
4
www.bootbarn.com
Boot Barn together with its subsidiaries operates as the nation’s leading retailer of western and work-related footwear, and apparel for the whole family. The now publicly-traded company was founded in 1978 by Ken Meany and has over 218 stores in 31 states. The store carries premium brands like Wrangler, Ariat, Montana Silversmith and many more, holding more than 8,000 styles of jeans, shirts, belts, hats, boots and jewelry.
Ownership:
Employees:
Locations:
Headquarters:
Boot Barn Holdings, Inc, (NYSE: “BOOT”) A Delaware corporation
1,200
218 Stores in 31 states
Irvine, CA
4
Property Overview Location
Site
Land Area
Building Area
Access Zoning
Traffic Counts
Parcel
Boot Barn 3719 N. Oracle RoadTucson, AZ 85705
The property is located on the west side of N. Oracle Road north of Prince Road in the City of Tucson, County of Pima, State of Arizona, in the Northview Shopping Center co-anchored with Peps Boys and Harbor Freight.
The property is approximately 0.46 acres or 20,246* SF of land area.
The property totals approx-imately 14,000* SF of net rentable area. Building built in 1985, renovated in 2013.
Access points include two (2) entrances off Oracle Road and two (2) entrances from Simmons Road.
Per the City of Tucson the site is currently zoned as C-2.
The assessor parcel number is 106-05-143A.
Parcel Map
ORACLE ROAD N
N. Oracle Road.......61,000 vpd
5
W. Prince Road.......38,659 vpd
* according to lease
SIM
MO
NS
ROA
D
DOWNTOWN TUCSON ± 4 MILES ± 4 MILES
N
N. O
RACLE ROAD
W. PRINCE RD
SUBJECT
NOT A PART
± 16,472 SF
NOT A PART OF
NOT A PART OF
SIMMONS RD
OR
AC
LE R
D
NO
T A PA
RT O
F
Nails & More
Northview Shopping Center
6
N
LEASE ABSTRACT
7
TENANT:
PREMISES:
DATE OF LEASE:
COMMENCEMENT DATE:
LEASE EXPIRATION:
RENEWAL OPTIONS:
RENT/YR:
PERMITTED USE:
REAL ESTATE TAXES:
COMMON AREA EXPENSES:
INSURANCE:
UTILITIES:
REPAIRS AND MAINTENANCE:
BOOT BARN
3719 N. Oracle Rd, Tucson, AZ 85705
August 31, 2005
February 1, 2006
January 31, 2021
BUILDING SIZE: 14,000 SF (per the lease - includes under canopy walk areas)
$120,000.00 - Base rent
Retail sale of merchandise typical of a Boot Barn store.
$24,717.44 (2018) - for the Premises- paid directly to Pima Country by Boot Barn. Tenant to pay its pro rate share of property taxes for the Center.Tenant to pay its pro-rate share (35%) of Landlord’s cost and Center cost of maintaining the Common Area. 2018 estimated share is $26,111.65. Tenant to maintain commercial general liability of not less than $500,000 for bodily injury or death, no less than $1,000,000 for any one accident and no less than $50,000 for property damage.
Tenant pays direct to utilities
TENANT ASSIGNMENT ANDSUBLETTING: Tenant may, with previous written constant of Landlord sublease or assign this lease.
BOOT BARN / 3719 N. ORACLE ROAD / Tucson, Arizona
Tenant to maintain Premises in good condition and repair
None
NANCY MCCLURE 1 520 323 [email protected]
© 2018 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners. Use of these images without the express written consent of the owner is prohibited.
Exclusive Listing Agent: