offering summary - loopnet€¦ · 4,733 active duty officers 39,262 enlisted active duty members...

5
OFFERING SUMMARY KILLEEN, TEXAS

Upload: others

Post on 21-Sep-2020

6 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: OFFERING SUMMARY - LoopNet€¦ · 4,733 active duty officers 39,262 enlisted active duty members 74,294 family members 89,805 retirees, survivors, and their family members

OFFERING SUMMARY

K I L L E E N , T E X A S

Page 2: OFFERING SUMMARY - LoopNet€¦ · 4,733 active duty officers 39,262 enlisted active duty members 74,294 family members 89,805 retirees, survivors, and their family members

Investment OverviewHFF is pleased to exclusively offer Killeen Crossing (the “Property”), a 60,438 square-foot Gold’s Gym-anchored retail center located immediately adjacent to Fort Hood, the country’s third-most populous military base with 217,000 people. Killeen Crossing is fully leased to Gold’s Gym, the University of Phoenix, and CenturyLink. In addition to its location near a high-density military base, the Property is located at one of Killeen’s most visible intersections along S. Fort Hood Street (30,000 VPD) and Interstate 14 (74,000 VPD). Gold’s Gym recently executed a 10-year renewal, demonstrating historical success at this location and the expectation of future profitability.

Killeen Crossing enjoys stable cash flow at a best-in-market location with internet-resistant anchors that drive multiple weekly trips to the center. With a corporate guaranty on the Gold’s Gym lease, Killeen’s only fully amenitized health club, investors stand to benefit from durable, long term cash flows.

MAJOR TENANTS:Tenant SF % GLA Lease Expiration Parent OptionsGold’s Gym 39,974 66% Sep-28 Gold’s Gym

InternationalFour Fixed 5-Year Options

U. of Phoenix 17,924 30% May-21/Dec-21 Apollo Education Group

10,000 SF: Two 5-Year Options at FMV

7,924 SF:Two 5-Year Options at

95% FMVCenturyLink 2,540 4% Feb-20 NYSE: CTL (S&P: BB) NoneTotal 60,438 100%

ADDRESS: 902 W. Central Texas Expy | Killeen, TX 76541

1OFFERING SUMMARY

Page 3: OFFERING SUMMARY - LoopNet€¦ · 4,733 active duty officers 39,262 enlisted active duty members 74,294 family members 89,805 retirees, survivors, and their family members

Investment HighlightsFORT HOOD PERIPHERYKilleen Crossing is located immediately adjacent to Fort Hood, the third-largest United States military installation with 217,000 total people including:

► 4,733 active duty officers

► 39,262 enlisted active duty members

► 74,294 family members

► 89,805 retirees, survivors, and their family members

► 8,909 other employees

GROWING CENTRAL TEXAS DEMOGRAPHICSSituated in one of the city’s most desirable intersections, Killeen Crossing benefits from its dense demographics that combine both residential Killeen as well as Fort Hood. The Killeen-Temple-Fort Hood MSA, one of the nation’s fastest-growing, is just over an hour drive from Austin.

COMPLIMENTARY USESKilleen Crossing’s two largest tenants, Gold’s Gym and University of Phoenix (total of 96% of GLA) provide each other with complimentary uses that are likely to drive traffic between the two tenants. Additionally, there is a separately owned strip center attached to the Property with several dining options, making it one of the city’s top retail centers.

IRREPLACEABLE LOCATIONWith limited developable land in the immediate area, strong visibility on one of Killeen’s most trafficked hard corners, and immediate proximity to Fort Hood, the Property is in one of the most desirable locations in the market.

LONG TERM, DURABLE CASH FLOWKilleen Crossing is a fully leased asset with internet-resistant anchor tenants in Gold’s Gym (corporate guaranty) and the

University of Phoenix

TRADE AREA DEMOGRAPHICS3 Miles 5 Miles 7 Miles MSA

Population 103,382 173,212 206,365 443,5092023 Projected Population 110,634 185,388 221,468 470,490Projected Growth 7.0% 7.0% 7.3% 6.1%# of Households 26,038 46,959 52,186 159,333Average Household Income $53,872 $58,381 $60,913 $67,011

2OFFERING SUMMARY

Page 4: OFFERING SUMMARY - LoopNet€¦ · 4,733 active duty officers 39,262 enlisted active duty members 74,294 family members 89,805 retirees, survivors, and their family members

STREET HIGHLIGHT STYLES

Fort Hood4th Largest U.S. Military Base

217,000 people

East Gate of Fort Hood: 1.5 miles from Property

S. F

ort

Ho

od

St

- 3

0,0

00

VP

D

W. Central Texas Expy - 74,000 VPD

3OFFERING SUMMARY

Page 5: OFFERING SUMMARY - LoopNet€¦ · 4,733 active duty officers 39,262 enlisted active duty members 74,294 family members 89,805 retirees, survivors, and their family members

S Fort Hood St

W C

entr

al T

exas

Exp

y

100B

300

201B

NAP

195

S Fo

rt H

ood

Stre

et

201

201

W Stan Schlueter Loop

Clea

r Cre

ek R

d

McMillanMountains

CrossvilleMountain

Killeen-Fort Hood Regional Airport

Killeen

Hood ArmyAir�eld

CastleMountain

195

RattlesnakeHill

SevenmileMountain

Fort Hood

Additional InformationIf you have any questions or require additional information, please contact:

AARON JOHNSON | Director | [email protected] | 469.232.1987KELSEY ROOP | Senior Director | [email protected] | 512.532.1927DREW FULLER | Director | [email protected] | 512.232.1931CHRIS MURPHY | Director | [email protected] | 469.232.1941ROSS CRAWFORD | Analyst | [email protected] | 214.692.4712For information regarding debt structures on the property, please contact:JIM CURTIN | Senior Director | [email protected] | 469.221.7781

HFF has been engaged by the owner of the property [properties] to market it [them] for sale. Information concerning the property [properties] described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.

2323 Victory AvenueSuite 1200

Dallas, TX 75219 214-265-0880 214-265-9564

www.hfflp.com