marketing packet: 4117 e highland drive jonesboro, ar · marketing packet: 4117 e highland drive...
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MARKETING PACKET: 4117 E HIGHLAND DRIVE JONESBORO, AR
(870) 972-9191
1920 East Matthews Avenue
Jonesboro, AR | 72401
www.HalseyThrasherHarpole.com
Jerry L. Halsey, Jr., CCIM, CRB, SIORPrincipal Broker/Managing Partner
[email protected](870) 930-8008
NON-ENDORSEMENT AND DISCLAIMER NOTICE
Confidentiality and Disclaimer
The information contained in the following marketing packet is proprietary and strictly confidential. It is intended to be reviewed by only the party receiving it from Halsey Thrasher Harpole Real Estate Group of Jonesboro, Arkansas, and should not be made available to any other person or entity without the written consent of Halsey Thrasher Harpole. This marketing packet 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. Halsey Thrasher Harpole has not made any investigation, and makes no warranty or representation with respect to the income or expenses of 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 packet has been obtained from sources we believe to be reliable; however, Halsey Thrasher Harpole has not verified, and will not verify, any of the information contained herein, nor has Halsey Thrasher Harpole 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. Non-Endorsement Notice
Halsey Thrasher Harpole is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing packet. 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 Halsey Thrasher Harpole, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Halsey Thrasher Harpole, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
(870) 972-9191
1920 East Matthews Avenue
Jonesboro, AR | 72401
www.HalseyThrasherHarpole.com
(870) 972-9191
1920 East Matthews Avenue
Jonesboro, AR | 72401
www.HalseyThrasherHarpole.com
Jerry L. Halsey, Jr., CCIM, CRB, SIORPrincipal Broker/Managing Partner
[email protected](870) 930-8008
4117 E HIGHLAND DRIVE JONESBORO, AR
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Building Size 12,406+/- sqft
Property Type Commercial
Property Sub-Type Retail
Zoning I-1 (approved for conditional retail use in 2013)
*property information provided by listing agents and assumed correct
CORPORATE PROFILE
Dollar General is a market leader in delivering value to shoppers. Dollar General has been operating for more than 75 years, boasting 14,609 stores in 44 states as of March 2018. Dollar General offers frequently used and replenished products such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items in convenient neighborhood locations.
General Information
Address: 100 Mission Ridge, Goodlettsville,
Tennessee, 37072
Phone: 615-855-4000
Website: www.dollargeneral.com
Current Value and Shares
Key Personnel
Chief Executive Officer: Todd Vasos
Chief Financial Officer & Executive Vice President: John W. Garratt
Executive Vice President, Store Operations: Jeff Owen
Financial Markets
Stock Ticker:DG
Current Price:$93.72 as of 5.14.18
52 Week High | Low:$105.82 | $65.97
This 12,406+/- sqft building is located on E Highland Drive and seconds away from E Nettleton Avenue. This section of E Highland Drive boasts 22,720 VPD of daily traffic and is a busy thoroughfare in Jonesboro. The property is in close proximity to The Mall at Turtle Creek which is in the heart of Jonesboro’s retail district. Large brands include Target, JCPenney, Best Buy, Bed Bath & Beyond and Dillard’s.
The ariel on this page shows the location of the new overpass, as approved by the Arkansas Highway and Transportation Department and the city of Jonesboro. Businesses in this area will reap the benefits of improved access and higher traffic counts.
This property is in the perfect location for your clients that have even the slightest familiarity with Jonesboro, and there isn’t another in this market that can boast such a location.
SUBJECT PROPERTY INFORMATION
FUTUREOVERPASS
E Nettleton Ave
Arkansas State University University 3,281
St. Bernard’s Healthcare Healthcare 3,077
NEA Baptist Hospital Hospital 1,306
Hytrol Conveyer Company Manufacturing 1,178
Jonesboro Public Schools Education 941
Frito-Lay, Inc Manufacturing 900
Nestle Prepared Foods Company Manufacturing 730
NEA Baptist Clinic Healthcare 703
Nettleton Public Schools Education 590
Mid-South Health Systems Healthcare 514
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E HIGHLAND DRIVE
EXECUTIVE SUMMARY
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Price $1,735,000
Net Operating Income $112,934.00
Capitalization Rate - Current 6.5%
Price / SF $139.85
Rent / SF $9.10 / SF
Lease Type NNN
Initial Lease Term 15 Years
Gross Leasable Area 12,406
Year Built / Renovated 2013
FIN
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G Down Payment All Cash
Net Cash Flow 6.5% / $112,934
Cash on Cash Return 6.5%
Halsey Thrasher Harpole Real Estate Group is pleased to offer for sale, the Dollar General located at 4117 E Highland Drive in Jonesboro, Arkansas. The property consists of 12,406 square feet and is being offered for $1,735,000, representing a 6.5% capitalization rate. The property is also in close proximity to The Mall at Turtle Creek which is in the heart of Jonesboro’s retail district. Large brands include Target, JCPenney, Best Buy, Bed Bath & Beyond and Dillard’s.
Jonesboro is a city of distinction in Northeast Arkansas. We are the 5th largest city in Arkansas, with a population of over 75,000. Our Metropolitan Statistical Area (MSA) is over 120,000 with a Trade Area of over 500,000. Jonesboro is centrally located with easy access to other major markets, including America’s Distribution Center, Memphis, Tennessee.
Jonesboro is the largest town between the cities of Little Rock, Arkansas; St. Louis, Missouri; and Memphis, Tennessee. It has a growing population, one of the newest shopping malls in America, a Tier 1 research University, and a strong healthcare market with NEA Baptist, a new $400 million hospital. St. Bernards Regional Medical Center is also undergoing a $130 million expansion. To top it all off, Jonesboro has the latest Interstate designation in the whole state, also known as the I-555.
Jonesboro provides a positive business environment with a diversified economic foundation. A well qualified workforce, low cost utilities, the training capabilities of Arkansas State University and an overall low cost of doing business are just a few reasons why many companies are proud to call Jonesboro home. In addition, the quality of life is exceptional, with a high-quality educational system, excellent healthcare facilities, abundant retail opportunities and numer- ous recreational and cultural activities available.
LOCATION OVERVIEW
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JONESBORO’S RETAIL DISTRICTHalsey Thrasher Harpole has led extensive redevelopment projects over the past 10 years, changing the face of Jonesboro’s retail district, providing the people of Jonesboro with an extensive mix of stores and restaurants. A new Kroger Marketplace was built on the old Indian Mall location, and Halsey Thrasher Harpole brought a Burlington and Planet Fitness to Jonesboro inside of Centre Court Plaza / formerly Kroger.
Caraway Plaza, a popular retail hub, has also been experiencing rapid growth. The Plaza is home to key tenants including Natural Grocers, TJ Maxx, Old Navy, and Hallmark. HomeGoods opened in March of 2018 and Five Below will be arriving in the summer of 2018. It is nearing full capacity with a number of new businesses making plans for a presence in Jonesboro.
Jonesboro’s retail market is continuously emerging and has seen enormous growth. This quadrant of the city encompasses the major retail and restaurant corridors along Red Wolf Boulevard, Highland Drive, Caraway Road, Race Street, Nettleton Avenue. While you will certainly notice a representation of local and regional businesses located in this district, it above all others in the city is dominated by national retailers and restaurants.
Red Wolf Boulevard boasts the highest traffic counts in all of Jonesboro at nearly 40,000 vehicles per day. The intersection of Red Wolf and Highland Drive (The Mall at Turtle Creek, Chili’s, Olive Garden, AT&T, Hiro Japanese Restaurant, Chick-fil-A, Turtle Creek Crossing etc.,) is the highest traffic count intersection of the entire city. The Mall at Turtle Creek boasted over 11 million visitors last year.
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Professional Affiliations & Designations
• CCIM - Cerfitied Commercial Investment Member, since 2001
• CRB - Council of Real Estate Brokerage, since 2004
• ICSC - International Council of Shopping Centers
• SIOR - Society of Industrial & Office Realtors, since 2015
• Jonesboro Board of REALTORS
• National Association of REALTORS
• Jonesboro’s Metropolitan Area Planning Commission - Past Chairman
• Arkansas Building Authority - Past Commissioner
• Jonesboro Vision 2030 CPAC - Member
• Leadership Jonesboro Class of 2000 - Jonesboro Chamber of Commerce
• Arkansas Business’ Top 40 under 40
• Northeast Arkansas Business Today Outstanding Young Executive, 2005
• Northeast Arkansas Business Today Finalist for 2007 Business Person of the Year
• Northeast Arkansas Business Today Finalist for 2007 Small Business of the Year
• The Jonesboro Sun, Best of the Best Real Estate Agent, 2002
• The Jonesboro Sun, 12 Who Make It Happen, 2017
• Arkansas State Police Foundation - Board of Directors
Education
• ARKANSAS STATE UNIVERSITY, Jonesboro, Arkansas, Bachelor of Science in Real Estate & Insurance
Background & Experience
• March 2014 - Present Halsey Thrasher Harpole Real Estate Group, Principal Broker & Managing Partner
• July 2003-March 2014 CEO/Principal Broker
- Halsey Real Estate, Inc. - NAI Halsey - Burrow Halsey Realty Group Inc
• Jan 2001 - June 2003 Halsey Real Estate Investments, CEO/Principal Broker
• Nov 1999 - Jan 2001 John White Real Estate Co, Executive Broker
• Jan 1992 - Dec 1999 Managing Partner, Halsey Farms
Current Developments
• Centre Park - 42 acre development anchored by Hyatt Place Hotel/Convention Center
• Greensborough Village - 200 acre mixed-use development
• Parker Hollow - 30 acre mixed-use development
• Halsey Self Storage Expansion
Tenant Representation
• Kum & Go - convenience store chain selling both fuel and merchansize items throughout the Midwestern United States
• Doe’s Eat Place (franchisee)
Recent Redevelopment Projects
• Centre Court Plaza
- Burlington - Planet Fitness
• Caraway Plaza
- Natural Grocer - HomeGoods - June’s Hallmark / Merle Norman
• Key Place
- AT&T - Community Title & Escrow - Valentine’s Nails - Larry’s Pizza
• 411 Building
- Doe’s Steakhouse - JK Products & Services, Inc.
Jerry L. Halsey, Jr., CCIM, CRB, SIOR
Principal Broker / Managing [email protected]
(870) 930-8008
AGENT BIO