visionworks - loopnet · 2017. 11. 15. · 9410 sheridan blvd, westminster, colorado, 80031...

The information contained herein has been received from sources we believe to be reliable, but we have made no independent investigation of the accuracy or completeness and make no representation thereto. The above is subject to errors, omissions, or withdrawal from the market.

700 Larkspur Landing Circle • Suite #150 • Larkspur • CA • 94939 • Phone: 415.464.3245 • Fax: 415.464.3255

www.willisventures.com

Lease Terms• Five (5) Year Net (NN) Lease• Four, 5-Year Renewal Options - 10% Increase Every Five Years

Purchase Price: $2,591,600

Cap Rate: 6.45%

Current NOI: $167,160

Total Building Area: ± 4,113 SF

Total Land Area: ± 0.470 Acres ± 20,477 SF

Landlord Responsibilities: None

Lease Commencement: October 5, 2012

Lease Expiration: October 4, 2022

Renovated: 2012

Population: 307,175 (5 Miles)

Average HH Income: $96,947 (1 Miles)

Single Tenant Investment Property Information Statement

Total Annual Rent$167,160 Years 5-10

Options$183,876 Years 11-15 +10.0%

$202,264 Years 16-20 +10.0%

$222,490 Years 21-25 +10.0%

$244,739 Years 26-30 +10.0%

Visionworks9410 Sheridan Boulevard, Westminster, Colorado 80031(Denver MSA)

County: Adams / APN# 0171919204007

The Visionworks property is located within the main shopping district along Sheridan Boulevard in Westminster, a growing northern suburb of Denver that offers a wide choice of housing, excellent schools, and public amenities. One of the many features in Westminster includes coveted recreational areas and associated outdoor activities.

With direct access to major highways, Westminster is centrally located between Denver and Boulder and puts it within easy reach of major business centers, retail centers and a variety of entertainment facilities. The distance between Denver and Boulder is just a 20-minute drive in either direction and the drive time from Westminster to the Denver International Airport takes approximately 30 minutes.

Representative Photo

Visionworks of America

Visionworks of America, Inc. (formerly Eye Care Centers of America) is an American company that operates 700 optical retail stores in 40 U.S. states. The company was incorporated in 1988 with headquarters in San Antonio and has approximately 5,600 employees. Before June 2013, when it began operating under the Visionworks name, stores operated under eleven different trade names, including Eyemasters, Visionworks, Vision World, Doctor’s VisionWorks, Dr. Bizer’s VisionWorld, Dr. Bizer’s ValuVision, Doctor’s ValuVision, Hour Eyes, Stein Optical, Eye DRX and Binyon’s. Visionworks of America is a subsidiary of HVHC, a Highmark, Inc. company. The former parent company, ECCA Holdings Corp., merged with the Pittsburg based HVHC in 2006, resulting in Eye Care Centers of America Inc. becoming a wholly owned Highmark subsidiary. ECCA had 385 stores, in 36 states, at that time. Its largest chains are Eyemasters, with about 160 stores and Visionworks, with 140 stores. All stores sell designer and exclusive brand frames, lenses, sunglasses and accessories. Comprehensive service offerings include contact lens dispensing, in-store labs, which provide one-hour service on many prescriptions at nearly all locations and doctors of optometry at or next to every store. Visionworks also sells contact lenses online. Revenue in 2001, when the company had 360 stores (in 32 states) was $336 million.

Type Private, subsidiary

Industry Eyewear / optical retailing

Founded 1988

Headquarters 175 E. Houston Street San Antonio, Texas 78205

Number of locations

700 (as of 2015) and operated under various trade names (not the ECCA name)

Area served United States

Number of employees

5,600

Parent Highmark, Inc.

Website www.visionworks.com________________________________________

Highmark, Inc. ______________________________________

Highmark Inc. and its health insurance subsidiaries and affiliates collectively are among the ten largest health insurers in the United States and comprise the fourth-largest Blue Cross and Blue Shield-affiliated organization. Highmark Inc. and affiliates operate health insurance plans in Pennsylvania, Delaware and West Virginia that serve 5 million members and hundreds of thousands of additional members through the BlueCard® program. Its diversified businesses serve group customer and individual needs across the United States through dental insurance, vision care, and other related businesses.

Aug. 2, 2006--Highmark Inc. and ECCA Holdings Corporation the merger of ECCA Holdings with HVHC, resulting in ECCA Holdings becoming a wholly owned subsidiary of HVHC. Eye Care Centers of America, Inc. ("ECCA"), a San Antonio, Texas based optical retail chain, is owned by ECCA Holdings and as a result of the merger is now an indirect wholly-owned subsidiary of Highmark.

Asian Market

Bank of the West

Arby's

Jared Jewelers

The Tile Shop

Party CityPayless ShoeSource

Sports Authority

Office Building

Site Plan

Visionworks

Property Survey

Actual Site Photo

Visionworks

dwillisLine

Sheridan Westminster Shopping Center

List of Tenants

Visionworks Golfsmith FedEx & Einstein Bagels Barnes & Noble Starbucks Party City DSW Designer Shoes Babies R Us Dress Barn Ultra Beauty David's Bridal Ross Dress For Less JoAnn Fabrics The Tile Shop Jared Jewelers Jack-n-Grill Restaurant

Sheridan Westminster Walmart Center

List of Tenants

Walmart Best Buy Office Depot Total Beverage Wendy’s Outback Steak Boston Market Payless ShoeSource Verizon Wireless & Qdoba Mexican Grill Valero Convenience & Gas

Surrounding Tenants Sheridian Westminster Shopping Center

Federal Ex & Einstein Bagels Barnes & Noble Starbucks Coffee

Golfsmith Party City Designer Shoe Warehouse

Babies R Us

Ross Dress For Less JoAnn Fabrics

The Tile Shop

Jared Jewelers Jack N Grill Restaurant

Sheridan Westminster Walmart Shopping Center Surrounding Tenants

Walmart Best Buy

Office Depot

Sports Authority

Total Beverage Wendy's

Boston Market OutBack Steakhouse

Demographic and Income Comparison Profile9410 Sheridan Blvd, Westminster, Colorado, 80031 Prepared by EsriRings: 1, 3, 5 mile radii Latitude: 39.86830

Longitude: -105.05306

1 mile 3 miles 5 milesCensus 2010 Summary

Population 10,585 132,159 307,175Households 4,236 51,298 117,108Families 2,862 33,810 78,275Average Household Size 2.50 2.57 2.61Owner Occupied Housing Units 2,839 34,116 76,285Renter Occupied Housing Units 1,397 17,182 40,823Median Age 37.9 35.4 34.9

2017 SummaryPopulation 11,126 142,380 333,810Households 4,441 54,825 126,860Families 2,979 35,818 84,013Average Household Size 2.51 2.59 2.62Owner Occupied Housing Units 2,814 34,391 77,662Renter Occupied Housing Units 1,627 20,434 49,198Median Age 39.5 36.6 36.1Median Household Income $75,345 $62,056 $62,051Average Household Income $96,947 $79,930 $79,829

2022 SummaryPopulation 11,484 148,758 351,486Households 4,574 57,121 133,400Families 3,054 37,101 87,885Average Household Size 2.51 2.60 2.63Owner Occupied Housing Units 2,889 35,537 81,099Renter Occupied Housing Units 1,685 21,584 52,301Median Age 40.2 37.3 37.0Median Household Income $84,122 $68,698 $69,727Average Household Income $108,135 $89,824 $90,365

Trends: 2017-2022 Annual RatePopulation 0.64% 0.88% 1.04%Households 0.59% 0.82% 1.01%Families 0.50% 0.71% 0.91%Owner Households 0.53% 0.66% 0.87%Median Household Income 2.23% 2.05% 2.36%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022.

November 07, 2017

©2017 Esri Page 1 of 7

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1 mile 3 miles 5 miles2017 Households by Income Number Percent Number Percent Number Percent



1 mile 3 miles 5 miles2010 Population by Age Number Percent Number Percent Number Percent

Age 0 - 4 603 5.7% 9,379 7.1% 22,257 7.2%Age 5 - 9 648 6.1% 8,958 6.8% 21,732 7.1%Age 10 - 14 642 6.1% 8,596 6.5% 20,644 6.7%Age 15 - 19 637 6.0% 8,728 6.6% 20,539 6.7%Age 20 - 24 719 6.8% 9,321 7.1% 21,824 7.1%Age 25 - 34 1,637 15.5% 20,405 15.4% 47,227 15.4%Age 35 - 44 1,382 13.1% 17,879 13.5% 41,711 13.6%Age 45 - 54 1,592 15.0% 19,474 14.7% 44,409 14.5%Age 55 - 64 1,430 13.5% 15,177 11.5% 33,786 11.0%Age 65 - 74 777 7.3% 8,231 6.2% 18,446 6.0%Age 75 - 84 376 3.6% 4,510 3.4% 10,953 3.6%Age 85+ 141 1.3% 1,502 1.1% 3,650 1.2%

2017 Population by Age Number Percent Number Percent Number PercentAge 0 - 4 576 5.2% 9,357 6.6% 22,399 6.7%Age 5 - 9 585 5.3% 9,278 6.5% 22,227 6.7%Age 10 - 14 638 5.7% 9,118 6.4% 21,945 6.6%Age 15 - 19 636 5.7% 8,408 5.9% 20,161 6.0%Age 20 - 24 752 6.8% 9,411 6.6% 22,106 6.6%Age 25 - 34 1,709 15.4% 22,415 15.7% 52,690 15.8%Age 35 - 44 1,418 12.7% 19,014 13.4% 44,935 13.5%Age 45 - 54 1,430 12.9% 17,976 12.6% 41,929 12.6%Age 55 - 64 1,557 14.0% 17,620 12.4% 40,454 12.1%Age 65 - 74 1,166 10.5% 12,096 8.5% 26,940 8.1%Age 75 - 84 493 4.4% 5,600 3.9% 12,932 3.9%Age 85+ 166 1.5% 2,087 1.5% 5,094 1.5%

2022 Population by Age Number Percent Number Percent Number PercentAge 0 - 4 608 5.3% 9,854 6.6% 23,656 6.7%Age 5 - 9 571 5.0% 9,245 6.2% 22,406 6.4%Age 10 - 14 607 5.3% 9,432 6.3% 22,761 6.5%Age 15 - 19 622 5.4% 8,847 5.9% 21,268 6.1%Age 20 - 24 741 6.5% 9,232 6.2% 21,654 6.2%Age 25 - 34 1,778 15.5% 22,790 15.3% 53,782 15.3%Age 35 - 44 1,518 13.2% 20,711 13.9% 49,764 14.2%Age 45 - 54 1,370 11.9% 17,489 11.8% 41,138 11.7%Age 55 - 64 1,504 13.1% 17,700 11.9% 41,363 11.8%Age 65 - 74 1,321 11.5% 14,118 9.5% 32,105 9.1%Age 75 - 84 663 5.8% 7,021 4.7% 15,963 4.5%Age 85+ 181 1.6% 2,319 1.6% 5,627 1.6%


November 07, 2017




1 mile 3 miles 5 miles2010 Race and Ethnicity Number Percent Number Percent Number Percent

White Alone 8,843 83.6% 105,542 79.9% 244,290 79.5%Black Alone 135 1.3% 1,827 1.4% 4,476 1.5%American Indian Alone 81 0.8% 1,411 1.1% 3,593 1.2%Asian Alone 640 6.0% 6,269 4.7% 12,521 4.1%Pacific Islander Alone 11 0.1% 126 0.1% 349 0.1%Some Other Race Alone 542 5.1% 12,397 9.4% 31,277 10.2%Two or More Races 332 3.1% 4,587 3.5% 10,669 3.5%Hispanic Origin (Any Race) 1,900 17.9% 35,501 26.9% 88,976 29.0%

2017 Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 9,087 81.7% 110,875 77.9% 259,163 77.6%Black Alone 159 1.4% 2,214 1.6% 5,548 1.7%American Indian Alone 95 0.9% 1,614 1.1% 4,146 1.2%Asian Alone 754 6.8% 7,455 5.2% 14,854 4.4%Pacific Islander Alone 14 0.1% 167 0.1% 479 0.1%Some Other Race Alone 619 5.6% 14,482 10.2% 36,580 11.0%Two or More Races 398 3.6% 5,573 3.9% 13,041 3.9%Hispanic Origin (Any Race) 2,166 19.5% 41,325 29.0% 103,681 31.1%

2022 Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 9,207 80.2% 113,635 76.4% 267,967 76.2%Black Alone 175 1.5% 2,474 1.7% 6,290 1.8%American Indian Alone 104 0.9% 1,758 1.2% 4,548 1.3%Asian Alone 842 7.3% 8,324 5.6% 16,637 4.7%Pacific Islander Alone 16 0.1% 196 0.1% 570 0.2%Some Other Race Alone 690 6.0% 16,097 10.8% 40,719 11.6%Two or More Races 450 3.9% 6,274 4.2% 14,756 4.2%Hispanic Origin (Any Race) 2,432 21.2% 46,288 31.1% 116,257 33.1%


November 07, 2017




1 mile

AreaStateUSA

Trends 2017-2022Trends 2017-2022

Annual

Rat

e (i

n p

erce

nt)

3

2.5

2

1.5

1

0.5

0Population Households Families Owner HHs Median HH Income

20172022

Population by AgePopulation by Age

Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

2017 Household Income 2017 Household Income

< $15K2.8%

$15K - $24K4.3%

$25K - $34K5.0%

$35K - $49K11.1%

$50K - $74K26.5%

$75K - $99K14.4%

$100K - $149K22.8%

$150K - $199K6.5%

$200K+6.6%

2017 Population by Race2017 Population by Race

Perc

ent

80

70

60

50

40

30

20

10

0White Black Am.Ind. Asian Pacific Other Two+ Hisp


November 07, 2017




3 miles

AreaStateUSA

Trends 2017-2022Trends 2017-2022

Annual

Rat

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nt)

3

2.5

2

1.5

1

0.5


20172022


Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


< $15K6.5%

$15K - $24K7.8%

$25K - $34K8.5%

$35K - $49K14.2%

$50K - $74K22.3%

$75K - $99K15.3%

$100K - $149K15.9%

$150K - $199K5.5%

$200K+4.1%


Perc

ent

70

60

50

40

30

20

10



November 07, 2017




5 miles

AreaStateUSA

Trends 2017-2022Trends 2017-2022

Annual

Rat

e (i

n p

erce

nt)

3

2.5

2

1.5

1

0.5


20172022


Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


< $15K6.9%

$15K - $24K8.0%

$25K - $34K8.8%

$35K - $49K14.1%

$50K - $74K21.1%

$75K - $99K15.3%

$100K - $149K16.3%

$150K - $199K5.5%

$200K+4.2%


Perc

ent

70

60

50

40

30

20

10



November 07, 2017


Dan Willis / Willis Ventures Investment Real Estate 700 Larkspur Landing Circle, Suite 150 Larkspur, CA 94939 Office: (415) 464-3245 / Cell: (415) 531-1287 Fax: (415) 464-3255 [email protected]

Disclaimer and Confidentiality Statement

The information contained in this property statement has been obtained from sources considered to be reliable. However, Willis Ventures Investment Real Estate makes no guarantee or representation about the accuracy or completeness of this information.

It is the responsibility of a prospective investor to independently confirm the accuracy and completeness of all material in the property statement before proceeding with the purchase of the property. A prospective investor should complete a thorough due diligence investigation of the property. Willis Ventures Investment Real Estate denies any obligation to conduct a due diligence examination of this property for an investor.

Any projections, assumptions or estimates used in this property information statement are for example only and do not necessarily represent the current or future performance of this property. The value of a net leased retail property depends on many factors that should be evaluated carefully by the prospective investor along with their legal, financial and tax advisors.

The information contained in the property statement is proprietary and confidential and to be reviewed by a prospective investor and their advisors only.

The information contained herein has been received from sources we believe to be reliable, but we have made no independent investigation of the accuracy or completeness and make no representation thereto. The above is subject to errors, omissions, or withdrawal from the market.

700 Larkspur Landing Circle • Suite #150 • Larkspur • CA • 94939 • Phone: 415.464.3245 • Fax: 415.464.3255

Single Tenant Investment Retail Property

Contact:

Dan [email protected] Ventures Investment Real Estate 700 Larkspur Landing Circle, Suite # 150 Larkspur, California 94939Cell: 415-531-1287Office: 415-464-3245Fax: 415-464-3255

www.willisventures.com

Visionworks9410 Sheridan Boulevard, Westminster, CO 80031 (Denver MSA)

visionworks - loopnet · 2017. 11. 15. · 9410 sheridan blvd, westminster, colorado, 80031...

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