fedex office | beaumont urgent care | great clips...great clips, inc. was established in 1982 in...

FEDEX OFFICE | BEAUMONT URGENT CARE | GREAT CLIPS23100 MICHIGAN AVENUE, DEARBORN, MI 48124 (DETROIT MSA)

SUBJECT PROPERTY

CONFIDENTIALITY AND RESTRICTED USE AGREEMENTThe information (“Information”) contained in this Offering Memorandum (“Memorandum”) is confidential and furnished to you solely for the limited purpose of your review as a prospective purchaser of 23100 Michigan Ave, Dearborn, MI (“Property”) to determine whether you desire to express further interest in the acquisition of the Property and is not to be used for any other purpose or made available to any other person without the express written consent of Alrig USA ,the owner of the Property (“Owner”).

This Memorandum contains selected information pertaining to the Property and is not intended to be comprehensive or all-in-clusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real prop-erty. The Information has been obtained from sources believed reliable, however it has not been verified. No representation, warranty, or guaranty, expressed or implied, is made by Owner or any of its directors, officers, affiliates or representatives as to the accuracy or completeness of this Memorandum or any of its contents, or any other written or oral communication transmit-ted to you in the course of your evaluation of the Property and no legal commitment, obligation or liability shall arise by reason of your receipt of this Memorandum or use of its contents or in connection with any other such written or oral communication; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the Prop-erty. Without limiting the generality of the foregoing, this Memorandum does not purport to be a representation of the state of affairs of the Property or the Owner or constitute an indication that there has been no change in such affairs of the Property or Owner since the date of preparation of this Memorandum nor does it represent the future performance of the Property. You and your advisors should conduct a careful, independent investigation of the Property to determine the suitability of the Property for your needs and the value of the Property to you.

All financial projections and information are provided for general reference purposes only and are based on assumptions relat-ing to the general economy, market conditions, competition and other factors beyond the control of the Owner and therefore are subject to material change and/or variation. Any projections, opinions, assumptions or estimates used are for example only. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportu-nity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including, without limitation, leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced nor do they constitute a legal analysis of such documents. Interested parties are expected to review all such documents and information of whatever nature independently and not rely on the contents of this Memorandum in any manner.

Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making any offer to purchase the Property unless and until a written agreement approved by the Owner for the purchase of the Property has been fully executed and delivered by and between the Owner and such entity and any conditions to the Owner’s obligations therein have been satisfied or waived and then only to the extent expressly provided for therein.

This Memorandum is the property of Owner and may be used only by parties approved by Owner. The Property is privately offered and by your receipt of this Memorandum, you agree (i) to return it to Owner immediately upon Owner’s request and (ii) that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity, nor copy or reproduce any portion of this Memorandum, without the prior written authorization of Owner. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner.

VINCENT PIPIADirector of Dispositions

Mobile: 586.405.9656Direct: [email protected]

EXCLUSIVELY OFFERED BY DEVELOPER

ALRIG USA30200 Telegraph Road | Suite 205Bingham Farms, MI 48025(248) [email protected]

INVESTMENT OVERVIEW

PRICE$4,925,230

CAP RATE6.50%

LEASABLE SQUARE FOOTAGE:8,784 SF +/-

LAND AREA:1.09 ACRES

NET OPERATING INCOME:$320,140

YEAR BUILT:2020

LEASE TYPE:NNN

LEASE TERM:10 YEARS

RENT COMMENCEMENTFEDX: FEB 1, 2020 GCLIP: APR 1, 2020 BEAU: MAY 1, 2020

RENT INCREASESFEDX: Varies Every 5-Yrs GCLIP: Varies Every 5-YrsBEAU: 10% Every 5-Yrs

RENT EXPIRATION:FEDX: JAN 31, 2030GCLIP: MAR 31, 2030 BEAU: APR 30, 2030

FEDEX OFFICE | GREAT CLIPS | BEAUMONT URGENT CARE // 23100 Michigan Ave, Dearborn, MI 48124

HIGHLIGHTS 100% Occupied by FedEx Office, Great Clips and Beaumont Urgent Care Center

All Tenants Operating on 10-Year NNN Leases | Minimal Landlord Responsibilities

Brand New 2020 Construction

Great Clips Is Relocation Store From Adjacent Shopping Center To The East

Beaumont Health Is The Largest Health Care System In The State Of Michigan

FedEx Corp Holds Investment Grade Rating By Both S&P (BBB) and Moody’s (Baa1)

Excellent Exposure Being Located on Michigan Avenue (41,460+ VPD)

Densely Populated Trade Area With Over 323,960 Residents Within 5 Miles

High Average Household Income of Over $71,600 In The Trade Area

Surrounding National Retailers Include; Kroger, Marshalls, CVS, Staples, Ford, Chrysler, T-Mobile, Goodwill, Potbelly, Belle Tire, Sprint, Subway, Rite Aid and Many More...

All Tenants Have Rent Increases During Intial Term, As Well As Option Periods

FedEx and Beaumont Urgent Care Are Both Corporate Backed Leases

FedEx Store Is Relocation From Adjacent Shopping Center - Been In Market 20+ Yrs

VINCENT PIPIA | Dispositions Associate 30200 Telegraph Road, Suite 205, Bingham Farms, MI 48025Mobile: 586.405.9656 [email protected] PIPIA | Dispositions Associate 30200 Telegraph Road, Suite 205, Bingham Farms, MI 48025Mobile: 586.405.9656 [email protected]

TENANT GLA % OF GLA PSFBEGIN END ANNUAL Increase

4,084 46% $35.00$36.00$39.00$42.00

Current2/1/20252/1/20302/1/2035

$142,940$147,024$159,276$171,528

$1 PSF$3 PSF$3 PSF

FEDEX OFFICE

TOTAL: 8,784 100.00%

LEASE OVERVIEW

GREAT CLIPS

LEASE TYPE

NNN

BEGIN END

2/1/2020 1/31/2030

Option 1:Option 2:

1/31/20251/31/20301/31/20351/31/2040

CURRENT BASE RENTLEASE TERMTENANT INFO

1,200 14% NNN $31.00$32.50$35.75$39.33

Current7/1/20257/1/20307/1/2035

$37,200$39,000$42,900$47,196

5.0%10.0%10.0%

6/15/2020 6/30/2030

Option 1:Option 2:

6/30/20256/30/20306/30/20356/30/2040

BEAUMONT URGENT CARE

3,500 40% NNN $40.00$44.00$48.40$53.24

Current7/1/20257/1/20307/1/2035

$140,000$154,000$169,400$186,340

10.0%10.0%10.0%

Estimated 6/24/2020

Estimated 6/30/2030

Option 1:Option 2:

6/30/20256/30/20306/30/20356/30/2040

TOTAL CURRENT NOI: $320,140


TENANT OVERVIEW

# OF LOCATIONS2,100+

WEBSITEWWW.FEDEX.COM

FedEx Corporation (“FedEx”) is the parent holding company to the FedEx portfolio of companies. FedEx provides a broad portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collab-oratively, under the respected FedEx brand. These companies include: FedEx Express, FedEx Ground, FedEx Freight and FedEx Services. FedEx Services provides sales, marketing, information technology, communications, customer service, technical support, billing and collection services, and certain back-office functions that support our transportation segments. The FedEx Services segment includes FedEx Office and Print Services, Inc. (“FedEx Office”).

FedEx Office Print & Ship Services Inc. (d.b.a FedEx Office; formerly FedEx Kinko’s, and earlier simply Kinko’s) is an American retail chain that provides an outlet for FedEx Express and FedEx Ground (including Home Delivery) shipping, as well as printing, copying, and binding ser-vices. While FedEx dropped the Kinko’s name in 2008, to the dismay of the founder, the name remains in use. Unlike its main competitor, The UPS Store, which is franchised, all FedEx Office stores are corpo-rate-owned.

As of 2019, FedEx Office operated approximately 2,100 customer-fac-ing stores, providing convenient access to printing and shipping exper-tise. Services include digital printing, professional finishing, document creation, direct mail, signs and graphics, copying, computer rental, free WiFi and corporate print solutions. Additionally, FedEx SameDay City is available in over 1,900 cities in 34 markets across the U.S., offering door-to-door residential and business delivery of time-sensi-tive parcels within hours by FedEx Office uniformed team members in branded FedEx Office delivery vehicles.

FEDEX OFFICE

TENANT // GUARANTEECORPORATE

HEADQUARTERSPLANO, TX

YEAR FOUNDED1970

PARENT ORGANIZATIONFEDEX CORPORATION

CREDIT RATINGS&P: BBB

STOCK TICKERNYSE: FDX


https://www.pacificdentalservices.com/

TENANT OVERVIEW

TENANT // GUARANTEECIAN MACSWEENEY HOLDINGS LLC

WEBSITEWWW.GREATCLIPS.COM

Great Clips is 100% franchised and about 1,200 franchisees employ nearly 40,000 stylists in more than 180 markets. They have more than 4,400 hair salons across North America, making it the world’s largest hair salon brand—each one making it easy for customers to get a great haircut at a great price at a time and place thats convenient for them. Great Clips, Inc. was established in 1982 in Minneapolis.Great Clips provides competitively priced, high-quality haircuts to men, women and children.

Stylists receive ongoing training to learn the Great Clips customer care system and advanced technical skills. Great Clips hair salons serve about two million customers weekly. The average Great Clips salon attracts more than 500 customers per week, and the average Great Clips customer comes in every four to six weeks. Great Clips services include haircuts for men, women and children, and perms at select locations, along with other salon hair services. Great Clips hair salons are open seven days a week with no appointments, including nights and weekends, so customers can get a haircut near them when they need it. Great Clips carries several professional product lines in addition to its exclusive product lines: Solutions® by Great Clips, GRIT™ and Tea Tree.

GREAT CLIPS

OWNERSHIPFRANCHISE

YEAR FOUNDED1982

HEADQUARTERSMINNEAPOLIS, MN

# OF LOCATIONS4,400+


https://www.pacificdentalservices.com/

TENANT OVERVIEW

YEAR FOUNDED2019

WEBSITEWWW.WELLSTREET.COM

Beaumont Health is Michigan’s largest health care system and is the most preferred for health care in the tri-county area, according to Na-tional Research Corporation survey data. A not-for-profit organization, it was formed in 2014 by Beaumont Health System, Botsford Hospital and Oakwood Healthcare to provide patients with the benefit of greater access to extraordinary, compassionate care, no matter where they live in Southeast Michigan. Beaumont Health has total net revenue of $4.5 billion and consists of eight hospitals with 3,429 beds, 187 outpatient sites, nearly 5,000 physicians, 38,000 employees and 3,500 volun-teers. In 2017, Beaumont Health had 175,700 inpatient discharges, 17,800 births and 575,000 emergency visits.

WellStreet Urgent Care is excited to announce a partnership with Beau-mont Health, Michigan’s largest health care system. WellStreet Urgent Care is partnering with Beaumont Health, a Michigan-based organiza-tion, to open up to 30+ urgent care centers throughout Metro Detroit by the end of 2019.

More than 40 percent of consumers visiting an urgent care do not have a primary care physician. One of the key goals will be to connect these patients with primary care physicians affiliated with the Beaumont clin-ically integrated network.

BEAUMONT URGENT CARE

OWNERSHIPPRIVATE

TENANT // GUARANTEECORPORATE

HEADQUARTERSROYAL OAK, MI

# OF LOCATIONS30


Dearborn is a city in the State of Michigan. It is located in Wayne County and is part of the Detroit metropolitan area. Dearborn is the eighth largest city in the State of Michigan. As of the 2010 census, it had a population of 98,153 and is home to the largest Muslim population in the United States.

Ford Motor Company has its world headquarters in Dearborn. In addition its Dearborn campus contains many research, testing, finance, and some pro-duction facilities. Ford Land controls the numerous properties owned by Ford, including sales and leasing to unrelated businesses, such as the Fairlane Town Center shopping mall. DFCU Financial, the largest credit union in Mich-igan, was created for Ford and related companies’ employees.

One of the largest employers in Dearborn is Oakwood Healthcare System. Other major employers include auto suppliers like Visteon, education fa-cilities such as Henry Ford Community College, and museums such as The Henry Ford. Other businesses headquartered in Dearborn include Carhartt (clothing), Eppinger (fishing lures), AAA Michigan (insurance), and the Soci-ety of Manufacturing Engineers.and technology education center. University of Michigan–Dearborn and Henry Ford College are located in Dearborn.

DEMOGRAPHICS

POPULATION 1 MILE 3 MILES 5 MILES

2019 Population 15,108 109,275 323,968

Average Age 41.00 38.90 37.80

HOUSEHOLDS 1 MILE 3 MILES 5 MILES

2019 Total Households 6,414 43,220 123,621

Average Household Size 2.30 2.50 2.60

Average Household Income $94,592 $71,612 $62,178

DEARBORN, MICHIGAN


INCOME 1 MILE 3 MILES 5 MILES

Median Home Value $169,611 $127,470 $101,481

Median Year Built 1948 1954 1954

Number of Businesses 1,119 4,335 10,226

Number of Employees 7,478 49,209 107,129

DAY TIME EMPLOYMENT 1 MILE 3 MILES 5 MILES

FOR SALE BY DEVELOPERVINCENT PIPIADirector of Dispositions

Direct: 248.480-8058Mobile: 586.405.9656Email: [email protected]

ALRIG USA30200 Telegraph Road Suite 205Bingham Farms, MI 48025(248) 646-9999

fedex office | beaumont urgent care | great clips...great clips, inc. was established in 1982 in...

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