trader joe’s anchored shops brookland north shopping ... · this property is listed in...

www.preservewestcapital.comThis property is listed in conjunction with Oklahoma-licensed real estate broker Sooner Investment Realty (M. Dean Ingram) License #119510.

OFFERING MEMORANDUM

Trader Joe’s Anchored Shops | Brookland North Shopping Center

Tulsa, OK

www.preservewestcapital.com

TABLE OF CONTENTS

Michael MaffiaPartner [email protected] RE License #01340853

Putnam DailyPartner - Brokerage [email protected] RE License #01750064

Michael Maffia (“Broker”) has been retained on an exclusive basis to market the property described herein (“Property”). Broker has been authorized by the Seller of the Property (“Seller”) to prepare and distribute the enclosed information (“Material”) for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.

The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates. The pro forma is delivered only as an accommodation and neither the Seller, Broker, nor any of their respective affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma.

Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.

Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information.

Disclaimer

PROPERTY HIGHLIGHTS 1PROPERTY OVERVIEW 2FINANCIAL ANALYSIS 4RENT ROLL 8TENANT INFORMATION 9

PROPERTY PHOTO 11SITE PLAN 12AERIALS 13ABOUT THE AREA 16DEMOGRAPHICS 18

PRESERVE WEST CAPITAL | 1 PRESERVE WEST CAPITAL | 1

PROPERTY HIGHLIGHTS

Property Highlights

• Infill Retail Center Anchored by Trader Joe’s

- National & Regional Tenants on Long Term Leases

- Scheduled Rental Increases Included in All Leases

• High Quality 2016 Construction• Strategic Location in Brookside

District - Popular Shopping & Entertainment

District - Supported by Highly Educated &

Affluent Population - Average Household Income in One

Mile Radius: $95,937• Close Proximity to Oral Roberts

University & University of Tulsa – Combined 7,300+ Students

• Excellent Placement Near Highly Travelled Highways

- State Highway 412/Interstate 242 – 119,000 AADT

- Interstate 44 – 91,699 AADT - State Highway 64 – 88,013 AADT

• Healthy Demographics within Five Mile Radius

- Population: 197,578

PRESERVE WEST CAPITAL | 2

PROPERTY OVERVIEW

Newly constructed retail property anchored by a high performing Trader Joe’s grocery store.

The InvestmentBrookland North Shopping Center offers the unique opportunity for an investor to acquire a newly constructed retail property anchored by a high performing Trader Joe’s grocery store in an established and growing region of Midtown Tulsa.

The property is leased with long term leases to prominent national and regional tenants including Trader Joe’s, Blaze Pizza, AT&T, and Tropical Smoothie Café. This strong retail location serves a wide trade area and is located conveniently near three highly trafficked highways, Interstate 44 (91,699 AADT), State Highway 64 (88,013 AADT) and State Highway 412/Interstate 242 (78,900 AADT).

Additionally, both Oral Roberts University and the University of Tulsa, which have a combined student body of more than 7,300, are in close proximity to Brookland North. The immediate area is supported by the growth of a changing neighborhood that is attracting newer developments and promoting the redevelopment of existing commercial properties to better accomodate a highly educated and affluent population. As a result, Brookside District, the neighborhood where the property is located, has become a popular shopping and entertainment district in Midtown Tulsa. A majority of the population in a one mile radius are under the age of 45, have a bachelor’s or graduate/professional degree, and boast an average household income in excess of $95,000.

With excellent arterial exposure along South Peoria Avenue (23,000 AADT), this is a well located asset that will provide an investor with long term income security. With a diversified rent roll comprised of national and regional tenants on new long term leases, an investor will capitalize on both real estate appreciation and scheduled increases in income.


LocationBrookland North Shopping Center is located at 3702 and 3722 South Peoria Avenue in Tulsa, Oklahoma.

Lot SizeApproximately 1.51 acres, or 65,800 square feet.

ImprovementsConstruction completed in 2016 of two retail buildings totaling approximately 19,024 square feet.

Building 1 | 3702 South Peoria Avenue

Trader Joe’s: 12,045 square feet

Building 2 | 3722 South Peoria Avenue

AT&T: 1,959 square feet

Tropical Smoothie Café: 1,489 square feet

Available: 1,231 square feet

Blaze Pizza: 2,300 square feet

ParkingThere are approximately 120 parking spaces available on site.

Ingress/EgressThere are two points of ingress/egress to Brookland North.

PROPERTY OVERVIEW

Located in Tulsa’s growing Brookside District undergoing rapid redevelopment.


FINANCIAL ANALYSIS PRICING

PRICE

$12,976,0005.00% Return

Projected Gross RevenueYEAR 1 YEAR 6 YEAR 10

Scheduled Base Rental Revenue $675,976 $743,574 $798,716

Expense Reimbursement Revenue $110,518 $124,247 $135,501

Total Potential Gross Revenue $786,493 $867,821 $935,217

Assessments <$9,765> <$10,775> <$11,250>

Effective Gross Revenue $776,728 $857,046 $923,967

YEAR 1 YEAR 6 YEAR 10

Net Operating Income $648,794 $713,776 $767,156

CAP Rate 5.00% 5.50% 5.91%

Annual ExpensesCAM - $1.70/sf $32,341 $37,492 $42,197

Property Taxes - $3.56/sf $67,725 $74,774 $80,938

Insurance - $0.24/sf $4,566 $5,293 $5,957

Management @ 3% of EGR $23,302 $25,711 $27,719

Total Operating Expenses $127,934 $143,270 $156,811

FinancingThe property will be delivered free and clear of permant financing.

NoteThe net income is an estimate and does not provide for all potential costs and expenses (i.e. maintenance, repair, etc.) that may be required of the owner. Any reserves set forth herein are merely estimates and not based on any experience, physical inspection, or prior knowledge. All prospective purchasers are strongly advised to make an independent investigation to determine their estimate of costs and expenses prior to entering into an agreement to purchase.


FinancingThe property will be delivered free and clear of permanent financing. A possible new 10-year loan may be secured in the amount of $6,487,940 (50% loan-to-value). The loan will have a fixed interest rate of 4.65% for ten years and will be interest only for ten years.

Price $12,975,880

Loan Amount <$6,487,940>

Equity $6,487,940

Year 1 Year 6 Year 10

Cash Flow Before Debt Service $648,794 $713,776 $767,156

Debt Service <$301,689> <$301,689> <$301,689>

Cash Flow After Debt Service $347,105 $412,087 $465,467

Cash-on-Cash Return 5.35% 6.35% 7.17%

Cash Flow

FINANCIAL ANALYSIS POSSIBLE FINANCING

General Assumptions

Analysis Date June 1, 2017

Total Rentable Area 19,024 SF

Total Area for CAM Reimbursement Calculations

19,024 SF

General Inflation per Annum 3%

General Expense Growth per Annum

3%

Real Estate Tax Growth per Annum

2%

Management Fee 3% of EGR

General Vacancy Loss 5%

Tenants Excluded fromGeneral Vacancy Loss

Trader Joe’s and Blaze Fast Fire’d Pizza

Completion of Lease-Up N/A


FINANCIAL ANALYSIS GENERAL ASSUMPTIONS


Brookland NorthCash Flow ProjectionPreserve West Capital

Year: 1 2 3 4 5 6 7 8 9 10 11Begins: Jun-2017 Jun-2018 Jun-2019 Jun-2020 Jun-2021 Jun-2022 Jun-2023 Jun-2024 Jun-2025 Jun-2026 Jun-2027

Ends: May-2018 May-2019 May-2020 May-2021 May-2022 May-2023 May-2024 May-2025 May-2026 May-2027 May-2028STATISTICSNet Rentable Area in SF 19,024 - - - - - - - - - -Avg Base Rental Revenue PSF/mo. $2.96 $2.96 $2.96 $3.01 $3.18 $3.26 $3.26 $3.26 $3.29 $3.50 $3.58Total Operating Expenses PSF/yr. $6.72 $6.86 $7.00 $7.15 $7.36 $7.53 $7.68 $7.84 $8.01 $8.24 $8.44Absorption & Turnover Vacancy - - - - - - - - - - -General Vacancy 1.2% 1.2% 1.2% 1.2% 1.2% 1.2% 1.2% 1.2% 1.2% 1.2% 1.2%

Potential Gross RevenueBase Rental Revenue $675,976 $675,976 $675,976 $686,515 $726,833 $743,574 $743,574 $743,574 $751,303 $798,716 $817,931

Scheduled Base Rental Revenue $675,976 $675,976 $675,976 $686,515 $726,833 $743,574 $743,574 $743,574 $751,303 $798,716 $817,931Expense Reimbursement Revenue 110,517 113,133 115,809 118,555 121,365 124,247 127,200 130,222 133,321 136,501 139,756

Total Potential Gross Revenue $786,493 $789,109 $791,785 $805,070 $848,198 $867,821 $870,774 $873,796 $884,624 $935,217 $957,687General Vacancy (9,765) (9,799) (9,833) (9,868) (10,193) (10,775) (10,813) (10,851) (10,891) (11,250) (11,891)

Effective Gross Revenue $776,728 $779,310 $781,952 $795,202 $838,005 $857,046 $859,961 $862,945 $873,733 $923,967 $945,796

Operating ExpensesCommon Area Maint. - $1.70 $32,341 $33,311 $34,310 $35,340 $36,400 $37,492 $38,617 $39,775 $40,968 $42,197 $43,463Property Taxes - $3.56 67,725 69,080 70,462 71,871 73,308 74,774 76,270 77,795 79,351 80,938 82,557Insurance - $0.24 4,566 4,703 4,844 4,989 5,139 5,293 5,452 5,615 5,784 5,957 6,136Mgmt @ 3% (non reimb) 23,302 23,379 23,459 23,856 25,140 25,711 25,799 25,888 26,212 27,719 28,374

Total Operating Expenses $127,934 $130,473 $133,075 $136,056 $139,987 $143,270 $146,138 $149,073 $152,315 $156,811 $160,530

NET OPERATING INCOME $648,794 $648,837 $648,877 $659,146 $698,018 $713,776 $713,823 $713,872 $721,418 $767,156 $785,266

Leasing & Capital CostsTenant Improvements - - - - - - - - - - -Lease Commissions - - - - - - - - - - -

Total Leasing & Capital Costs - - - - - - - - - - -

CASH FLOW BEFORE DEBT SERVICE $648,794 $648,837 $648,877 $659,146 $698,018 $713,776 $713,823 $713,872 $721,418 $767,156 $785,266

INTERNAL RATE OF RETURN - 10 Year Hold REVERSION CALCULATION - Sale at End of Year 10

IRR Price Per SF Cap Yr 1 Using NOI in Year 11 Total Dollars Per SF

6.58% $12,975,880 $682.08 5.00% Cap Rate @ 5.00% $15,705,320 $825.55Cost of Sale @ 3.00% (471,160) (24.77)

Net Reversion Proceeds $15,234,160 $800.79

Printed 3/17/2017 at 11:01 AM

FINANCIAL ANALYSIS CASH FLOW PROJECTION


Suite Tenant Sq. Ft. % of Center

Monthly Rent PSF

AnnualRent PSF

InitialAnnual

RentTerm

Lease Commence.

Date

LeaseExpiration

Date

Rental Increase Date(s)

Rental Increase Amount

OptionsEnd-of-

TermAssumption

LeaseStructure

N/A Trader Joe's 12,045 63.31% $2.92 $35.00 $421,575 10 yrs. 2/11/2016 3/31/2026 3/1/2021

1Increase in CPI, but in no event

greater than 10%

4 @ 5 yrs. Opt. 1: Increase

in CPI Opt. 2: Increase



in CPI

Option

NNN + 10% Admin. Fee on CAM Costs (exclud-ing taxes and insurance); no mgmt. fee; 4%

cumulative CAM Cap (excluding security costs, insurance, taxes, trash removal, snow and sand

removal, common area utility charges, and costs to slurry, crack seal, seal coat, and re-stripe

the common areas); Year 1 total reimbursable expenses Capped at $5.50 per square foot

100 Communication Solutions/AT&T 1,959 10.30% $2.92 $35.00 $68,565 7 yrs. 11/10/2016 11/30/2023 12/1/2021 $75,422

1st @ 3 yrs & 2nd @ 5 yrs.

Opt. 1 (3 years): $75,422

Opt. 2 (5 years): $82,964

Option

NNN + 10% Admin. Fee on CAM costs (including taxes and insurance); no mgmt. fee; 5% cumula-tive CAM Cap (excluding snow and ice removal, utilities, trash removal, painting, roof membrane repairs, security, taxes, insurance, sealing cracks in and restriping the parking areas, and slurrying or applying a seal coat to the asphalt in the com-

mon areas)

200 Tropical Smoothie Café 1,489 7.83% $3.17 $38.00 $56,582 10 yrs. 12/31/2016 12/31/2026 1/1/2022 $62,240

2 @ 5 yrs. Opt. 1: $68,464 Opt. 2: $75,314

Option

NNN + 10% Admin. Fee on CAM Costs (including taxes and insurance); no mgmt. fee; 5% cumula-tive CAM Cap (excluding painting of the building

more than once every seven years, insurance, taxes, utilities, and security)

3002Available/Proforma

1,231 6.47% $2.83 $34.00 $41,854 TBD TBD TBD 3TBD TBD TBD Option Assumes NNN + Mgmt

400 Blaze Fast Fire'd Pizza 2,300 12.09% $3.17 $38.00 $87,400 10 yrs. 22/1/2017 1/31/2027 3/1/2022 $96,140

2 @ 5 yrs. Opt. 1: $105,754 Opt. 2: $116,334

Option

NNN + 10% Admin. Fee on CAM Costs (including taxes and insurance); no mgmt. fee; 5% cumula-tive CAM Cap (excluding snow and ice removal, utilities, trash removal, painting, roof membrane repairs, security, taxes, insurance, sealing cracks in and restriping the parking areas, and slurrying or applying a seal coat to the asphalt in the com-

mon areas)

Leased 19,024 100%

Vacant 0 0%

TOTAL 19,024 100%

RENT ROLL

1) For purposes of this valuation, in the ARGUS analysis we assume that the annual rent increases by 10%.2) For Purposes of this valuation, the ARGUS analysis assumes rent commences upon the analysis date. The seller will guarantee the rent and NNN expenses for this space for a negotiable period of time at Close of Escrow.3) This analysis assumes 10% increases every five years for this space.


TENANT PROFILES

Trader Joe’sLessee: Trader Joe’s East, Inc. Trader Joe’s Company is a privately

held chain of specialty grocery stores headquartered in Monrovia, California. Approximately half of its stores are in California, with the heaviest concentration in Southern California, but the company also has locations in 43 other states and Washington, D.C. Trader Joe’s was founded by Joe Coulombe and is owned, since 1979, by a family trust set up by the late German businessman Theo Albrecht, one of the two brothers behind the German supermarket chain Aldi. Unlike typical grocery stores, which may carry 50,000 items (or SKUs), Trader Joe’s stocks about 4,000 items, 80% of which bear one of its own brand names. By selling almost all of its products under its own label, Trader Joe’s skips the middle man and buys directly from both local and international small-time vendors. By 2015, Trader Joe’s has become a competitor in “fresh format” grocery stores in the United States. The company currently owns and operates more than 460 stores.

According to a 2014 report by real estate investment firm JLL, Trader Joe’s sells approximately $1,734 in merchandise per square foot, whereas its competitor Whole Foods only sells $930 per square foot. In 2014, Trader Joe’s had revenue of $9.38 billion with net income of $578 million.

Guarantor(s): Trader Joe’s Company

No. of Locations: 460+

Website: www.traderjoes.com

Blaze Fast Fire’d PizzaLessee: Blazing Partners, LLC Blaze Fast Fire’d Pizza is a fast-casual dining

restaurant chain based out of Pasadena, California. The company was modeled after the Chipotle concept as a made-to-order approach to serving customers. Blaze Pizza’s name was derived from the speed of how quickly it bakes the customized pizzas in their 800-degree open-flame oven (only three minutes!). Blaze Pizza locations boast a décor that exudes an urban feel, with tasteful uses of stainless steel and reclaimed wood throughout the restaurants. The company opened its first location in Irvine, California in 2012 and has now grown to over 150 restaurants across 20 states, with its first international location opening in Toronto, Canada in August 2015. The company plans to have at least 500 locations by 2020. Blaze Pizza was ranked as the #2 brand in the 2015 Fast Casual Top 100.

Guarantor(s): Flis Enterprises, Inc. and O&M Restaurant Group, Inc. (Both guarantee the lease for the initial three years)


Website: www.blaze.com


TENANT PROFILES

Communication Solutions/AT&T

Lessee: Communicate Now, LP AT&T Inc. is the nation’s leading provider of wireless voice communications services. The Company provides telephone as well as internet access to customers; key markets include California, Illinois, and Texas. It is also a top provider of IP-voice and digital video services. AT&T provides services internationally through its subsidiaries and affiliates. The Company serves corporate and government clients with an extensive range of data, managed network, and wholesale services. Through its wholly owned subsidiary AT&T Mobility LLC, AT&T is the nation’s second-largest wireless carrier by both sales and subscriptions (after Verizon Wireless). AT&T Mobility provides mobile voice and data services to about 130.4 million subscribers in the United States, including Puerto Rico and the U.S. Virgin Islands, making it the 17th largest mobile telecom operation in the world. The Company is the third largest in Texas and the largest non-oil company. As of 2016, AT&T is the 23rd largest company in the world.

For the recent quarter ended June 30, 2016, AT&T Inc. reported revenue of $40.520 billion, net income of $3.408 billion, and total stockholder equity of $123.402 billion. The company is rated “BBB+” by Standard and Poor’s.

Communicate Now, L.P., the entity behind the lease, is an authorized retailer of AT&T and has been in business since 1995. The company serves the areas of Oklahoma and Dallas Fort Worth, with over 18 retail locations and one small business services office specializing in the convergence of telecommunications for wireless, home, and business.

Tenant’s Stock Symbol:

NYSE “T”

No. of Locations: 16,000+ retail locations

Website: www.comnow.net; www.att.com

Tropical Smoothie CafeLessee: OK22 TSC LLC Tropical Smoothie Café is a restaurant

franchise based in the United States. In addition to smoothies, the company is a full café that offers sandwiches, wraps, salads, flat breads, and introduced bowls to their food line in 2016. Tropical Smoothie began as a smoothie shop in 1993, with its franchised store opening in 1997 in Tallahassee, Florida. Since then, the company has grown to currently operate more than 500 locations nationwide.

Guarantor: Glen Johnson (Three year guarantee) and Tropical Tango, LLC (Full term guarantee)


Website: www.tropicalsmoothie.com

PROPERTY PHOTO

SO

UT

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EOR

IA A

VE

NU

E

EAST 37TH STREET

EAST 37TH PLACE

12,045 SF

1,489 SF

1,231 SF

2,300 SF

1,959 SF

AVAILABLE

SITE PLAN

S P

eoria Ave (2

3,0

00

AA

DT

)

/ (78,900 AADT)DOWNTOWN

TULSA

TULSA INTERNATIONALAIRPORT

THE UNIVERSITYOF TULSA

BRYN MAWR

ARKANSASRIVER

SWAN LAKEHISTORIC DISTRICT

GILLETTEHISTORIC DISTRICT

YORKTOWNHISTORIC DISTRICT

THE ENCLAVEAT BROOKESIDE

MAPLE RIDGE

BROOKESIDEDISTRICT

MIDTOWN

UTICA SQUARE

AERIAL NORTH VIEW

S Peoria Ave (23,000 AADT)

E 37th St

E 41st St


BROOKSIDEBAPTIST CHURCH

TRINITY UNITEDMETHODIST CHURCH

BROOKESIDEDISTRICT

AERIAL CLOSE UP VIEW

S Peoria Ave (23,000 AADT)

/ (94,699 AADT)

ST FRANCIS HEARTHOSPITAL

SOUTHERN HILLSCOUNTRY CLUB

BROOK TOWNE

RANCH ACRES

ORAL ROBERTSUNIVERSITY


BROOKESIDEDISTRICT

MIDTOWN

AERIAL SOUTHEAST VIEW

General OverviewWith a population of 981,005 people and a gross domestic product of

more than $49 billion in 2014, the Tulsa metropolitan area, comprised

of Tulsa (principal municipality), Osage, Okmulgee, Rogers, Wagoner,

Creek, and Pawnee counties, represents nearly thirty percent of

Oklahoma’s economy. The city of Tulsa is the most populated city

within the metro area and the second-largest city in Oklahoma, with

a population of 406,282 and growing, and has been recognized as

one of America’s most livable communities by Partners for Livable

Communities, Forbes, and Relocate America.

Once dubbed “The Oil Capital of the World,” the energy industry has

historically played a significant role in Tulsa’s economy. While some of

these businesses relocated in the 1980s, Tulsa remains headquarters

to a number of international oil and gas related companies, including

Williams Companies, SemGroup, ONE Gas, Syntroleum, ONEOK,

Laredo Petroleum, Samson Resources, Helmerich & Payne, Magellan

Midstream Partners, WPX Energy, and Excel Energy. Other major

employment sectors in Tulsa include telecommunications, aerospace,

finance, technology, and manufacturing. The city is also home to a

thriving small business community, making up more than 80% of

businesses in the city. In addition, many nationally recognized brands

are based in Tulsa.

The Tulsa Port of Catoosa, at the head of the McClellan-Kerr Arkansas

River Navigation System, is the most inland river port in the U.S. with

access to international waterways. It is a singular combination of a

multi-modal shipping complex and 2,000 acre industrial park resulting

in an economic impact of $300 million to Oklahoma. The complex

hosts roughly 72 companies and employs nearly 3,200 Oklahomans.

Additionally, two institutions of higher education within the city

operate at the NCAA Division I level, Oral Roberts University and the

University of Tulsa. Both universities are within a three mile radius of

the subject property. The University of Tulsa is a private university

whose campus spans across 230 acres and has over 4,300 students

enrolled. It is the only Oklahoma University to be included in the top

100 of the U.S. News & World Report’s 2016 edition of Best Colleges.

SITE

ABOUT THE AREA

SITE

ABOUT THE AREA

Site InformationThe Brookland North Shopping Center is located at the southwest

corner of South Peoria Avenue (23,000 AADT) and East 37th street in

Tulsa’s thriving Brookside District, one of the city’s premier shopping

and entertainment destinations. The center is anchored by the first

Trader Joe’s to open in Tulsa. Development has been strong in the

surrounding area, with numerous restaurants and several upscale

shopping centers drawing additional traffic to the area. In addition,

construction is underway on a nearly 100-acre park neighboring the

center to be completed in 2017. Once completed, the park is expected

to draw more than one million visitors annually.

Other notable grocer anchored centers in proximity include the

Reasor’s and Whole Foods anchored shopping centers just a few

blocks south of the property. Adjacent to the grocer anchored

centers is The Enclave at Brookeside, a community of 240 luxury

apartment homes. 4100 Apartments (74 units), Brookside Garden

Apartments (52 units), Marella Apartments (50 units), and The Chalet/

Riverside Plaza Apartments (40 units) are all within a one-half mile

radius from the property. Less than a mile south of the property is a

Walmart Neighborhood Market, which is situated across from Wright

Elementary School (404 students enrolled). Less than two miles north

of the property is the 60-store outdoor shopping center, Utica Square,

which features full-service upscale department stores, such as The

Gap, Coach, Banana Republic, Saks Fifth Avenue, Pottery Barn, and

Ann Taylor, among others.

The site is conveniently located with access to Interstate 44 (91,699

AADT) less than two miles to the South and access to State Highway

412/Interstate 242 (78,900 AADT) and State Highway 64 (88,013

AADT) within four miles north. The area benefits from strong

employment with more than 94% of the civilian population over the

age of 16 in the labor force. More than 200,000 people live within a

five mile radius of the site and average household income is more than

$66,000 per annum.


Population Summary 1 Mile 1 3 Miles 5 Miles

2010 Total Population 9,461 74,926 189,675



2016-2021 Annual Rate 1.23% 1.01% 0.91%

Average Household Income

2016 $95,937 $77,898 $66,636

2021 $102,190 $82,579 $70,743

Median Home Value

2016 $206,685 $173,817 $141,869

2021 $232,336 $199,653 $171,230

Per Capita Income

2016 $49,628 $38,221 $30,271

2021 $52,499 $40,281 $31,951

Top Employers - Tulsa, OK

# of Employees

U.S. Postal Service 9,000

American Airlines Maintenance 6,750

St. John Medical Center 6,250

Tulsa Public Schools 6,250

Saint Francis Healthcare System 5,500

City of Tulsa 4,200

Hillcrest Healthcare System 4,250

ONEOK 4,077

Bank of Oklahoma 3,250

AT&T 2,600

SITE

DEMOGRAPHICS


3702-3722 S Peoria Ave | Tulsa, OK 74105

2016 POPULATION

197,578AVG HOUSEHOLD INCOME

$95,937

411 Borel Avenue, Suite 650San Mateo, CA 94402D 415.373.4063 F 415.737.6018www.preservewestcapital.com

Putnam DailyPartner - Brokerage Division [email protected] RE License #01750064

Michael MaffiaPartner [email protected] RE License #01340853

trader joe’s anchored shops brookland north shopping ... · this property is listed in...

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