midtown center - matthews · midtown center, pueblo, co | 5 investment highlights • offered at an...

MIDTOWN CENTER

OFFERING MEMORANDUM

1000 W 6TH ST PUEBLO, CO 81003

e x c lu s iv e ly l i st e d by :

k y l e m at t h e w sBROKER OF RECORD

[email protected] (214) 692-2211MOB (520) 820-3084LIC # ER.100070690

CONTENTs 4 Executive summary

FINANCIAL SUMMARYINVESTMENT HIGHLIGHTS

6 property overviewPROPERTY DESCRIPTIONPARCEL MAPSITE PLANREGIONAL/LOCAL MAPTENANT MAP

10 area overview

14 financial overview

20 tenant overview

PUEBLO, COLORADO OVERVIEWCOMMUNITY DEVELOPMENTLOCAL ATTRACTIONSCOLORADO SPRINGS

RENT ROLLINCOME AND EXPENSESRECENT LEASES

EXPRESS SCRIPTSUS POSTAL

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Midtown center, pueblo, co | 5

i nv e st m e n t h i g h l i g h t s• Offered at an attractive 9.85% return on in-place net income

• Attractive financing could achieve a cash on cash return of over 15%.

• Low Vacancy – Center is over 97% occupied

• ABC Bank and the DMV are separately parceled allowing for the opportunity to sell these

individually

• 4 Acres of Raw Land Included – Restaurant and Storage companies have expressed interest

in ground leases or build to suit development

Tenants:

• National Investment Grade Credit Anchor – Express Scripts holds a BBB credit as rated by

S&P and currently is paying a significantly below market rent of only $3.50/SF

• Express Scripts occupies 35% of the GLA and invested in a large Tenant Improvement

package of close to $3 Million in exchange for a lower rent from the landlord. Additionally,

the City of Pueblo provided an incentives package valued at an estimated $7 Million

• Express Scripts is one of the largest employers with over 600 employees at this location

which results in an estimated payroll of $12 Million. – City of Pueblo is heavily invested in

retaining this employer

• Apria Home Health Care was acquired for $1.6 Billion in 2008 by Blackstone Partners LP

which is the largest private equity company in the world

• Long Term Tenants – Over 70% of the tenants have been operating at this location for over

10 Years

• Diversified Income Stream from ±30 different tenants including restaurants, a post office,

DMV, auto service operator, bank, health care, fitness center, bowling alley, and local strip

tenants

• Low Rents – A majority of, the tenants are currently paying rents are within or below market

rent

Property Information:

• Stabilized +200,000 SF Community Center Priced Below Replacement Cost

• 6 Buildings on 11 Parcels for a total of +/- 35 Acres of land

• Located in the center of town on highly trafficked 4th Street which sees over 30,000 ADT

• Almost $2 Million in renovations and tenant improvements in past 10 years including new roofing,

new HVAC units, new parking lot lighting, parking lot resurfacing and restriping

F i n a n c i a l s u m m a ry

Price $9,500,000

Property Size (NRA) 208,893

Year Built/ Renovated 1986

Current Occupancy 97.5%

Major Tenants

Express Scripts 75,000

Pinelles Bowling Alley 34,714

Bourbon Room 13,975

Apria Home HealthCare 11,968

Youth and Family Academy 10,000

DMV 8,350

Year 1 Operating Data (DCF)

Effective Gross Income $1,434,833

Operating Expenses $499,531

p r o p e rt y d e s c r i pt i o n THE OFFERING

Property Name .................................................................Midtown Center

Property Address .........................................................1000 W 6th Street,

Pueblo, CO 81003

Assessor’s Parcel Number ............................536238001, 536240002,

536203015, 536200033,

536200011, 536240001,

536200010, 536200052,

536205001,536205015,

536239001

Zoning ...........................................................................................................B4

SITE DESCRIPTION

Number of Stories ...................................................................................One

Year Built/Renovated .................................................................. 1959/1986

Rentable Square Feet ..............................................................208,893 SF

Lot Size ...............................................................±35 Acres (1,524,600 SF)

Type of Ownership ....................................................................Fee Simple

Parking ............................................................................................ ±1,200 SF

Parking Ratio ........................................................................ 8.70 : 1,000 SF

Landscaping ..............................................................................Professional

Topography ..........................................................................Generally Level

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891011

PARCEL MAP

APN

1 536200052

2 536240001

3 536240002

4 536200010

5 536200011

6 536200033

7 536203015

8 536238001

9 536205001

10 536205015

11 536239001

lo c a l r e g i o n a l

SUBJECT PROPERTY

SUBJECT PROPERTY

lo c a l a n d r e g i o n a l m a p


8 | Matthews Retail Advisors

s i t e p l a n

Vacant Land

(1.62 AC)

Vacant Land (1.14 AC)

Vacant Land (0.54 AC)

Suite Tenant SF

A Uhaul 355

B PPAL 300

C Touch of Class 392

D Touch of Class 590

E Pinelles 34,714

F Vacant 597

G-H Pueblo Hearing 1,152

I Colorado Legal 3,004

J Smoker Friendly

K So Co Sewing 1,700

L Peels Salon 3,500

M Angles of Hope 570

N Aileens 1,284

O Top Nails 1,073

P Honey Baked 3,020

Q BlackJack Pizza 2,000

R Elmwood Staffing 1,700

S All Risk Insurance 1,675

T InZone Fitness 4,500

U Us Postal 5,024

V Moreschini 2,165

W Express Scripts 75,000

W-1 Vacant 1,600

W-2 Frani's Beads 1,900

X Youth and Family Academy 10,000

Y Larsens Automotive 3,000

Z ABC Bank Midtown 3,847

1005 W 6th Apria Home Health Care 11,968

1007 W 6th Bourbon Room 13,975

827 W 4th DMV 8,350

827 W 4th Ste B Vacant 3,000

905 W 4th M&M liquor 1,677

824 W 4th Tory Vujcich 4,125

Occupied Totals 203,768

Vacant Totals 5,125

Totals 208,893

Matthews Retail Advisors | 9

t e n a n t m a p

P u e b lo , C o lo r a d oThe City of Pueblo has a long and colorful history dating back to 1842, when it was called Fort Pueblo. What brought the city from a small fort in southern Colorado to a major city were the ore mines. This area once housed 4 separate towns, Pueblo, South Pueblo, Central Pueblo, and Bessemer. These 4 towns together now make up the City of Pueblo.

The City of Pueblo is also known as “America’s Home of Heroes,” as was proclaimed by the United States Congress in 1993. Pueblo hosts National Medal of Honor Day and has had as many as 4 living Medal of Honor recipients living in their community.

Economically, Pueblo is booming. It is one of the largest steel-producing cities in the United States and is often referred to as the “Steel City”. Additionally, Pueblo has one of the top 5 lowest costs of living when comparing price levels of housing, utilities, transportation, and groceries.

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p o i n t s o f i n t e r e st

lake pueblocolorado state fair

whitewater park pueblo mountain park steelworks museum

pueblo zoo

The Colorado State fair is an annual event

located in Pueblo. The fair features a variety

of events including concerts, rodeos, parades

and carnival rides and games. This event takes

place at the end of August and runs through the

beginning of September.

Located in Downtown Pueblo, the Whitewater

Park is approximately ½ mile long and contains

eight drops. While it is called a “park”, this kayak

course is a real river.

Lake Pueblo has been rated a “fishing hot spot”

as it provides 60 miles of shoreline, 4,600

surface acres of water, and 10,000 acres of

land. The area offers a full-service marina and a

variety of campsites so guests can stay awhile.

Along with the top ranked fishing, you can find

guests sailing, waterskiing and much more.

Colorado is known for its beautiful scenery

and guests can immerse themselves in nature

at Pueblo Mountain Park. Several hiking trails

are found on the 611-acre park whether it be

a guided hike or discovering your own path.

Additionally, Horseshoe Lodge offers a “nature

inspired” bed and breakfast so visitors can stay

multiple days.

The Pueblo Zoo is an AZA (Association of Zoos

and Aquariums) accredited facility that covers

twenty-five acres in the southwest quadrant of

Pueblo City Park. It is home to more than 500

animals representing over 125 different species

from around the world. The Zoo is a place where

animals are exhibited in natural settings.

The Steelworks Center of the West provides

continuing education to the public through

the preservation of historic archives, artifacts

and buildings of the Colorado Fuel and Iron

Company (CF&I), and related activities leading

to the industrialization of the entire Western

United States.


Portland Park Shelters:1700 Block of East 19 Street – Eastside Neighborhood. Installation of one park shelter and the accompanying ADA accessible route, relocation of irrigation system, electrical service and lighting, installation of new picnic tables.

St Anne’s Park Ball Field Rehabilitation: 2700 E. 12 Street -Eastside Neighborhood The project will undertake the rehabilitation of the ballfield to include the removal of substandard structures to provide improved playing conditions to area residents and youth baseball teams. Improvements to be undertaken are construction of the backstop, removal and replacement of broken chain-link fencing, construction of a new announcer’s booth and new infield mix.

Installation of Streetlights:2500 & 2600 Blk. E. 9 St & 2600 Blk. E. 10 St Installation of three cobra head streetlights on the above listed streets. At present there are no streetlights on these blocks. Improvements will provide for safer pedestrian and vehicular transit.

City outline

p u e b lo c o m m u n i t y d e v e lo p m e n t

Olympic training center

Only 40 minutes from Pueblo is the second most populous city in Colorado, Colorado Springs. This city is a prime tourist location as it’s at the base of Pikes Peak and the Rocky Mountains and has an average of 243 sunny days per year. 5 million visitors come to the area annually contributing $1.35 billion in revenue. Colorado Springs has more than 55 attractions and activities in the area including the U.S. Olympic Training Center.

The city’s economy is still based heavily on tourism, although in more recent years, Colorado Springs has gained a strong foothold in the electronics, high-technology, and manufacturing industries while having a growing commercial economy led by varying components of the high-tech industry. Additionally, the area has seen a dramatic population growth over the last 30 years with the unemployment rate being below the US average.

Colorado Springs is home to the United States Olympic Training Center and the headquarters of the United States Olympic Committee. Additionally, 24 of the United States’ national federations for individual Olympic sports have their headquarters in Colorado Springs including the United States bobsled, fencing and figure skating. Figuring skating has had a particularly long associate with the city having hosted the U.S. Figure Skating Championships six times and the World Figure Skating Championships five times.

445,830

$72,579

34.4

POPULATION

AVERAGE HOUSEHOLD INCOME

MEDIAN AGE

COLORADO SPRINGS BY THE NUMBERSc o lo r a d o s p r i n g s

colorado springs top employers

Memorial Health Services

Penrose – St. Francis Health Services

Lockheed Martin Corporation

Atmel Corporation

Hewlett Packard

Broadmoor Hotel

Progressive Insurance Company

Verizon Business


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YearIn Place

Total $/SF

Income

Rental Income $1,144,199 $5.48

Expense Reimbursements $290,635 $1.39

Effective Gross Income $1,434,833 $6.87

Expenses

Real Estate Taxes $90,616 $0.43

Property Insurance $48,756 $0.23

CAM/R&M $306,936 $1.47

Management/Admin $43,045 $0.21

EGI (3%)

Misc Expenses $10,000 $0.05

Operating Expenses $499,353 $2.39

Net Operating Income $935,480 $4.48

Operating Expense Ratio 34.80%

SF 208,893

I n c o m e & E x p e n s e s

Tenant Name Unit # Terms Start Date Size (SF)Contract Rental Rate Lease

TermExpense

Reimb.

Free

Rent

T.I.s

$/SF

T.I.s

Total $$/SF/Yr. $/SF/Mo.

Touch Of Class C&D Relo Jan-17 982 $12.22 $1.02 3 Years NNN None $2.26 $2,220

Bourbon Room 1007 W 4th St New Aug-16 13,975 $4.29 $0.50 5 Years NNN N/A $1.72 $24,000

Elmwood Staffing R New Aug-15 1,700 $9.83 $0.82 5 Years NNN N/A $2.17 $3,684

So Co Sewing K New Jun-15 1,700 $9.06 $0.76 2 Years NNN N/A $1.81 $3,084

Uhaul A New Jun-15 355 $14.54 $1.21 2 Years NNN N/A $2.37 $840

PPAL B New Sep-15 300 $10.00 $0.83 2 Years Gross N/A

Total 19,012

R e c e n t L e as e s



Unit Tenant Lease Start Lease End SF % of GLA Rent PSFContract Rental Rate Rent Per Sq. Ft.

Rent Increases Annual Recovery Recovery Per AreaYear Month Year Month

A Uhaul 6/1/2015 5/31/2017 355 0.17% $16.90 $5,160 $430 $14.54 $1.21 Apr-16 Apr-17

$96,000 CPI

$840 $2.37

B PPAL 9/1/2015 8/31/2017 300 0.14% $10.00 $3,000 $250 $10.00 $0.83 Jul-15 Base + % $0 $0.00

C Touch of Class 1/1/2017 12/31/2019 392 0.19% $10.71 $4,200 $350 $10.71 $0.89 None $884 $2.25

D Touch of Class 1/1/2017 12/31/2019 590 0.28% $13.22 $7,800 $650 $13.22 $1.10 None $1,331 $2.26

E Pinelles 6/1/1995 4/30/2019 34,714 16.62% $1.79 $62,000 $5,167 $1.79 $0.15 Apr-16 Apr-17

$96,000 CPI

$13,600 $0.39

F Vacant 597 0.29% $0 $0.00 $0.00 Apr-16 Apr-17

$96,000 CPI

$0 $0.00

G-H Pueblo Hearing 6/1/1989 8/31/2021 1,152 0.55% $9.98 $11,500 $958 $9.98 $0.83 Apr-16 Apr-17

$96,000 CPI

$2,600 $2.26

I Colorado Legal 9/1/2002 9/21/2020 3,004 1.44% $10.39 $31,200 $2,600 $10.39 $0.87 None $0 $0.00

J Smoker Friendly 10/1/2012 9/30/2018 1,136 0.54% $14,400 $1,200 $12.68 $1.06 None $2,512 $2.21

K So Co Sewing 6/1/2015 5/31/2017 1,700 0.81% $8.01 $15,410 $1,284 $9.06 $0.76 Annual CPI $3,082 $1.81

L Peels Salon 3/1/2006 1/31/2021 3,500 1.68% $12.00 $42,000 $3,500 $12.00 $1.00 None $7,000 $2.00

M Angles of Hope 1/1/2007 1/8/2020 570 0.27% $12.65 $7,212 $601 $12.65 $1.05 Mar-17 Mar-18 Mar-19

$110,000 $120,000 $130,000

$1,193 $2.09

N Aileens 5/1/1984 1/5/2020 1,284 0.61% $5.58 $7,162 $597 $5.58 $0.46 None $2,720 $2.12

O Top Nails 7/15/2003 8/31/2018 1,073 0.51% $11.62 $9,883 $824 $9.21 $0.77 Annual 3% min/5% max $2,590 $2.41

P Honey Baked 4/1/2004 10/31/2019 3,020 1.45% $5.69 $24,000 $2,000 $7.95 $0.66 Every 5 Years 10% $6,814 $2.26

Q BlackJack Pizza 3/1/1997 4/30/2017 2,000 0.96% $10.78 $21,560 $1,797 $10.78 $0.90 Annual 3% $4,844 $2.42

R Elmwood Staffing 8/1/2015 7/31/2020 1,700 0.81% $9.83 $16,711 $1,393 $9.83 $0.82 Sep-20 Sep-25

$274,265 $301,722

$3,689 $2.17

S All Risk Insurance 5/1/1990 10/31/2017 1,675 0.80% $9.25 $15,492 $1,291 $9.25 $0.77 $3,780 $2.26

R e n t R o l l



A Uhaul 6/1/2015 5/31/2017 355 0.17% $16.90 $5,160 $430 $14.54 $1.21 Apr-16 Apr-17

$96,000 CPI

$840 $2.37

B PPAL 9/1/2015 8/31/2017 300 0.14% $10.00 $3,000 $250 $10.00 $0.83 Jul-15 Base + % $0 $0.00

C Touch of Class 1/1/2017 12/31/2019 392 0.19% $10.71 $4,200 $350 $10.71 $0.89 None $884 $2.25

D Touch of Class 1/1/2017 12/31/2019 590 0.28% $13.22 $7,800 $650 $13.22 $1.10 None $1,331 $2.26

E Pinelles 6/1/1995 4/30/2019 34,714 16.62% $1.79 $62,000 $5,167 $1.79 $0.15 Apr-16 Apr-17

$96,000 CPI

$13,600 $0.39

F Vacant 597 0.29% $0 $0.00 $0.00 Apr-16 Apr-17

$96,000 CPI

$0 $0.00

G-H Pueblo Hearing 6/1/1989 8/31/2021 1,152 0.55% $9.98 $11,500 $958 $9.98 $0.83 Apr-16 Apr-17

$96,000 CPI

$2,600 $2.26

I Colorado Legal 9/1/2002 9/21/2020 3,004 1.44% $10.39 $31,200 $2,600 $10.39 $0.87 None $0 $0.00

J Smoker Friendly 10/1/2012 9/30/2018 1,136 0.54% $14,400 $1,200 $12.68 $1.06 None $2,512 $2.21

K So Co Sewing 6/1/2015 5/31/2017 1,700 0.81% $8.01 $15,410 $1,284 $9.06 $0.76 Annual CPI $3,082 $1.81

L Peels Salon 3/1/2006 1/31/2021 3,500 1.68% $12.00 $42,000 $3,500 $12.00 $1.00 None $7,000 $2.00

M Angles of Hope 1/1/2007 1/8/2020 570 0.27% $12.65 $7,212 $601 $12.65 $1.05 Mar-17 Mar-18 Mar-19

$110,000 $120,000 $130,000

$1,193 $2.09

N Aileens 5/1/1984 1/5/2020 1,284 0.61% $5.58 $7,162 $597 $5.58 $0.46 None $2,720 $2.12

O Top Nails 7/15/2003 8/31/2018 1,073 0.51% $11.62 $9,883 $824 $9.21 $0.77 Annual 3% min/5% max $2,590 $2.41

P Honey Baked 4/1/2004 10/31/2019 3,020 1.45% $5.69 $24,000 $2,000 $7.95 $0.66 Every 5 Years 10% $6,814 $2.26

Q BlackJack Pizza 3/1/1997 4/30/2017 2,000 0.96% $10.78 $21,560 $1,797 $10.78 $0.90 Annual 3% $4,844 $2.42

R Elmwood Staffing 8/1/2015 7/31/2020 1,700 0.81% $9.83 $16,711 $1,393 $9.83 $0.82 Sep-20 Sep-25

$274,265 $301,722

$3,689 $2.17

S All Risk Insurance 5/1/1990 10/31/2017 1,675 0.80% $9.25 $15,492 $1,291 $9.25 $0.77 $3,780 $2.26


R e n t R o l l C O N T ’ DUnit Tenant Lease Start Lease End SF % of GLA Rent PSF

Contract Rental Rate Rent Per Sq. Ft.Rent Increases Annual Recovery Recovery Per Area

Year Month Year Month

T InZone Fitness 1/10/2011 12/31/2017 4,500 2.15% $4.13 $18,600 $1,550 $4.13 $0.34 $5,400 $1.20

U Us Postal 6/1/1987 12/31/2020 5,024 2.41% $9.75 $48,984 $4,082 $9.75 $0.81 $11,806 $2.35

V Moreschini 5/1/1997 6/30/2018 2,165 1.04% $8.50 $21,660 $1,805 $10.00 $0.83 $3,248 $1.50

W Express Scripts 9/1/2005 8/31/2018 75,000 35.90% $3.50 $262,500 $21,875 $3.50 $0.29 $159,356 $2.12

W-1 Vacant 1,600 0.77% $0 $0.00 $0.00 $0 $0.00

W-2 Frani's Beads 7/6/2006 2/28/2018 1,900 0.91% $9.47 $19,200 $1,600 $10.11 $0.84 $1,200 $0.63

X Youth and Family Academy 6/30/2017 10,000 4.79% $6.89 $68,880 $5,740 $6.89 $0.57 $0 $0.00

Y Larsens Automotive 6/1/2013 5/31/2018 3,000 1.44% $16.40 $49,200 $4,100 $16.40 $1.37 $0 $0.00

Z AMC Bank Midtown 2/15/2012 2/14/2020 3,847 1.84% $13.91 $60,000 $5,000 $15.60 $1.30 $6,473 $1.68

1005 W 6th Apria Home Health Care 8/15/2002 8/30/2018 11,968 5.73% $8.71 $104,280 $8,690 $8.71 $0.73 $18,754 $1.57

1007 W 6th Bourbon Room 8/1/2016 8/31/2021 13,975 6.69% $4.29 $60,000 $5,000 $4.29 $0.36 $24,000 $1.72

827 W 4th DMV 6/1/2009 6/30/2019 8,350 4.00% $10.24 $85,404 $7,117 $10.23 $0.85 $0 $0.00

827 W 4th Ste B Vacant 3,000 1.44% $0 $0.00 $0.00 $0 $0.00

905 W 4th M&M liquor 7/15/2014 7/14/2017 1,677 0.80% $15.38 $25,800 $2,150 $15.38 $1.28 $0 $0.00

824 W 4th Tory Vujcich 12/16/2010 12/31/2020 4,125 1.97% $4.49 $21,000 $1,750 $5.09 $0.42 $2,918 $0.71

Occupied Totals - In Place 203,768 97.5% $1,144,199 $95,350 $5.62 $0.47 $22,950 $0.11

Vacant Totals 5,125 2.5% $38,272 $3,189 $7.47 $0.62 $9,286 $1.81

Totals 208,893 100.0% $1,144,199 $98,539 $5.48 $0.46 $290,635 $1.39





T InZone Fitness 1/10/2011 12/31/2017 4,500 2.15% $4.13 $18,600 $1,550 $4.13 $0.34 $5,400 $1.20

U Us Postal 6/1/1987 12/31/2020 5,024 2.41% $9.75 $48,984 $4,082 $9.75 $0.81 $11,806 $2.35

V Moreschini 5/1/1997 6/30/2018 2,165 1.04% $8.50 $21,660 $1,805 $10.00 $0.83 $3,248 $1.50

W Express Scripts 9/1/2005 8/31/2018 75,000 35.90% $3.50 $262,500 $21,875 $3.50 $0.29 $159,356 $2.12

W-1 Vacant 1,600 0.77% $0 $0.00 $0.00 $0 $0.00

W-2 Frani's Beads 7/6/2006 2/28/2018 1,900 0.91% $9.47 $19,200 $1,600 $10.11 $0.84 $1,200 $0.63

X Youth and Family Academy 6/30/2017 10,000 4.79% $6.89 $68,880 $5,740 $6.89 $0.57 $0 $0.00

Y Larsens Automotive 6/1/2013 5/31/2018 3,000 1.44% $16.40 $49,200 $4,100 $16.40 $1.37 $0 $0.00

Z AMC Bank Midtown 2/15/2012 2/14/2020 3,847 1.84% $13.91 $60,000 $5,000 $15.60 $1.30 $6,473 $1.68

1005 W 6th Apria Home Health Care 8/15/2002 8/30/2018 11,968 5.73% $8.71 $104,280 $8,690 $8.71 $0.73 $18,754 $1.57

1007 W 6th Bourbon Room 8/1/2016 8/31/2021 13,975 6.69% $4.29 $60,000 $5,000 $4.29 $0.36 $24,000 $1.72

827 W 4th DMV 6/1/2009 6/30/2019 8,350 4.00% $10.24 $85,404 $7,117 $10.23 $0.85 $0 $0.00

827 W 4th Ste B Vacant 3,000 1.44% $0 $0.00 $0.00 $0 $0.00

905 W 4th M&M liquor 7/15/2014 7/14/2017 1,677 0.80% $15.38 $25,800 $2,150 $15.38 $1.28 $0 $0.00

824 W 4th Tory Vujcich 12/16/2010 12/31/2020 4,125 1.97% $4.49 $21,000 $1,750 $5.09 $0.42 $2,918 $0.71

Occupied Totals - In Place 203,768 97.5% $1,144,199 $95,350 $5.62 $0.47 $22,950 $0.11

Vacant Totals 5,125 2.5% $38,272 $3,189 $7.47 $0.62 $9,286 $1.81

Totals 208,893 100.0% $1,144,199 $98,539 $5.48 $0.46 $290,635 $1.39

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Property Name Express Scripts

Parent Company Trade Name Express Scripts Holding Company

Ownership Public

Revenue $101.75B

Net Income $2.48B

No. of Employees ± 25,900

Headquartered Saint Louis, MO

Website www.express-scripts.com

Year Founded 2011

EXPRESS SCRIPTS OVERVIEW

The company administers more than a billion prescription drug benefits of tens of millions of health plan members in the US and Canada. Members have access to a network of more than 70,000 retail pharmacies, as well as the company’s own mail-order pharmacies. On behalf of its insurer clients, Express Scripts processes claims for prescriptions, designs drug benefit plans, and offers such services as specialty drug delivery, disease management programs, and consumer drug data analysis.

Property Name United States Postal Service

Parent Company Trade Name United States Postal Service

Ownership Private

Revenue $68.9 B

Net Income $19.2 B

No. of Employees ± 625,000

No. of Locations ± 31,606

Headquartered Washington, DC

Website www.usps.com

Year Founded 1775

UNITED STATES POSTAL SERVICE OVERVIEW

The United States Postal Service (USPS) handles cards, letters, and packages sent from sea to shining sea. The USPS delivered some 154 billion pieces of mail in fiscal 2015 in the US and its territories, and if that’s not enough, it claims to deliver more than half of the world’s mail. The independent government agency relies on postage and fees to fund operations. The USPS currently has a monopoly on delivering the mail. The US president appoints nine of the 11 members of the board who oversee the USPS. The presidential appointees select the postmaster general, and together they name the deputy postmaster general; the two also serve on the board.

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This Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of Midtown Center located at 1000 W 6th Street, Pueblo, CO 81003 (“Property”) . I t has been prepared by Matthews Retai l Advisors. This Offer ing Memorandum may not be al l - inclusive or contain a l l of the informat ion a prospect ive purchaser may desire. The informat ion contained in th is Offer ing Memorandum is conf ident ia l and furnished solely for the purpose of a review by a prospect ive purchaser of the Property. I t is not to be used for any other purpose or made avai lable to any other person without the wri t ten consent of Sel ler or Matthews Retai l Advisors. The mater ia l is based in part upon informat ion suppl ied by the Sel ler and in part upon f inancial informat ion obtained from sources i t deems rel iable. Owner, nor their of f icers , employees, or agents makes any representat ion or warranty, express or impl ied, as to the accuracy or completeness of th is Offer ing Memorandum or any of i ts contents and no legal l iabi l i ty is assumed or shal l be impl ied with respect thereto. Prospect ive purchasers should make their own project ions and form their own conclusions without rel iance upon the mater ia l contained herein and conduct their own due di l igence.

By acknowledging your receipt of th is Offer ing Memorandum for the Property, you agree:

1 . The Offer ing Memorandum and i ts contents are conf ident ia l ;

2 . You wi l l hold i t and treat i t in the str ictest of conf idence; and

3. You wi l l not , d i rect ly or indirect ly, d isclose or permit anyone else to disclose this Offer ing Memorandum or i ts contents in any fashion or manner detr imental to the interest of the Sel ler.

Owner and Matthews Retai l Advisors expressly reserve the r ight , at their sole discret ion, to reject any and al l expressions of interest or of fers to purchase the Property and to terminate discussions with any person or ent i ty reviewing this Offer ing Memorandum or making an of fer to purchase the Property unless and unt i l a wr i t ten agreement for the purchase and sale of the Property has been ful ly executed and del ivered.

I f you wish not to pursue negot iat ions leading to the acquis i t ion of the Property or in the future you discont inue such negot iat ions, then you agree to purge al l mater ia ls relat ing to th is Property including this Offer ing Memorandum.

A prospect ive purchaser ’s sole and exclusive r ights with respect to th is prospect ive t ransact ion, the Property, or informat ion provided herein or in connect ion with the sale of the Property shal l be l imited to those expressly provided in an executed Purchase Agreement and shal l be subject to the terms thereof. In no event shal l a prospect ive purchaser have any other c la ims against Sel ler or Matthews Retai l Advisors or any of their af f i l iates or any of their respect ive of f icers , Directors , shareholders, owners, employees, or agents for any damages, l iabi l i ty, or causes of act ion relat ing to th is sol ic i tat ion process or the market ing or sale of the Property.

This Offer ing Memorandum shal l not be deemed to represent the state of af fa i rs of the Property or const i tute an indicat ion that there has been no change in the state of af fa i rs of the Property s ince the date this Offer ing Memorandum.

c o n f i d e n t i a l i t y ag r e e m e n t

Midtown center, pueblo, co |

k y l e m at t h e w sBROKER OF [email protected] (214) 692-2211MOB (520) 820-3084LIC # ER.100070690

MIDTOWN CENTER1000 W 6TH ST PUEBLO, CO 81003

midtown center - matthews · midtown center, pueblo, co | 5 investment highlights • offered at an...

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