NN Mattress Showroom for Sale | Matress Firm in Florence, SC

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NN Mattress Showroom for Sale | Matress Firm in Florence, SC Powered By Docstoc
					Mattress Firm
Florence|sC
mattress firm


oFFering overview

      location:                   2580 david H. Mcleod Boulevard
                                  Florence, south Carolina
                                                                        key investMent HigHligHts
                                                                        •	 three 10% increases within first 12 years of lease term
      size:                       4,000 sF                                 (assuming 1st option is exercised)
      lease type:                 landlord is responsible for capital   •	 Mattress Firm is a public company (nasdaQ:MFrM) with a
                                  repairs and replacement of               market cap of over $1.1B
                                  the roof (but not day-to-day
                                  maintenance) and structural           •	 ample on-site parking (22 spaces) with great access
                                  portions of the building
                                                                        •	 located in the middle of the Florence retail center (see
      rent commencement:          February 2, 2012                         aerial), where i-20 and i-95 meet, with the site fronting i-20 and
                                                                           enjoying great visibility and high traffic counts
      lease term:                 twelve (12) years
                                                                        •	 in addition to dozens of national hotels and motels located
      annual rent:                $120,000                                 here, Florence’s premier mall and a host of national retailers
                                  years 1 - 5:        $120,000             are all concentrated at this interchange
                                  years 6 - 10:       $132,000
                                  years 11 - 12:      $145,200          •	 Mcleod Boulevard leads directly into the city’s Central
                                                                           Business district, where it joins Highway 76, one of the major
      rent increases:             10% increases in years 6, 11, 13         coastal highways of south Carolina
                                  (1st option), and 18 (2nd option)
                                                                        •	 Magnolia Mall (located directly across from the site),
      options:                    two (2) – five (5) year options:         Crossroads Center, a ge Healthcare Facility, target, Home
                                  1st option:         $159,720             depot, kohl’s, olive garden, and red lobster surround this site.
                                  2nd option:         $175,680             the Florence Civic Center, a 50,000 sF entertainment and
                                                                           convention facility, is also within easy walking distance
      net operating income:        $120,000           rent
                                  -$     600          .15 reserves
                                   $119,400           noi
      asking price:               $1,592,000 (7.50% cap rate)



          deMograpHiCs            1 Mile      3 Mile         5 Mile
     2017 population projection    2,043       33,598        68,726
     2012 population estimate      1,944       31,687        65,308
     growth 2000 - 2012           18.54%       18.46%        14.36%
     2012 est. avg. HH income     $59,006      $67,348       $61,615
     Source: Claritas




2                                                                                                                                    florence | sc
                                                                                                                                  mattress firm


tenant proFile




   Mattress FirM (nasdaQ: MFrM)
   Houston-based Mattress Firm began in 1986 and is a leading bedding retailer offering a broad selection of both traditional and specialty
   mattresses, and bedding accessories from leading manufacturers. with more than 1,000 company-operated and franchised locations
   across 26 states (including the stores acquired as a result of the Mattress giant acquisition in May 2012), Mattress Firm has the largest
   geographic footprint in the United states among bedding retailers. the Company has a market cap of over $1.1B.




florence | sc                                                                                                                                  3
mattress firm

aerial


                                               Magnolia Mall
                Florence Commons




                                                                           West Florence
                                                                            High School




                    GE Healthcare




                                                       Crossroads Center
                                    Florence
                                      Civic
                        Regal        Center
                       Cinemas                                                             McLeod Health &
                                                                                            Fitness Center




4                                                                                                florence | sc
                                                                     mattress firm


site plan
          Mattress FirM
    square Feet   4,000
    acreage       .41




                                                         sUBJeCt




                          aCtUal site
                                        david H. Mcleod Blvd./i-20




florence | sc                                                                   5
mattress firm


aerial

                                                                                   American Shipping
                                      Magnolia Mall   Florence Mall                   & Logistics




                 Florence Commons

                                                                                       McLeod Regional
                                                                                        Medical Center

                                                                                      FLORENCE




                      GE Healthcare


                                       Florence
                                         Civic
                                        Center
                                                                      Florence
                                                                      Country
                                                                        Club



     King’s Academy

                Sneed
                Middle
                School




                                                                                 Carolinas Hospital
                                                                                      System




6                                                                                        florence | sc
                mattress firm


loCation Map




florence | sc              7
mattress firm


deMograpHiCs
                                                                       1 Mile     %      3 Mile     %      5 Mile     %
popUlation
     2017 projection                                                    2,043            33,598            68,726
     2012 estimate                                                      1,944            31,687            65,308
     2000 Census                                                        1,640            26,748            57,107
     1990 Census                                                        1,313            21,869            50,828
     growth 2011-2017                                                  5.09%             6.03%             5.23%
     growth 2000-2012                                                  18.54%            18.46%            14.36%
     growth 1990-2000                                                  24.90%            22.31%            12.35%
2 0 1 2 e s t. H o U s e H o l d s B y H o U s e H o l d i n C o M e    896              13,199            26,306
     income less than $15,000                                           222      24.78    1,472    11.15    3,958    15.05
     income $15,000 - $24,999                                            97      10.83    1,690    12.80    3,437    13.07
     income $25,000 - $34,999                                           103      11.50    1,516    11.49    3,003    11.42
     income $35,000 - $49,999                                           138      15.40    2,392    18.12    4,417    16.79
     income $50,000 - $74,999                                           137      15.29    2,447    18.54    4,661    17.72
     income $75,000 - $99,999                                            66      7.37     1,418    10.74    2,783    10.58
     income $100,000 - $124,999                                          40      4.46     904      6.85     1,774    6.74
     income $125,000 - $149,999                                          28      3.13     460      3.49     857      3.26
     income $150,000 - $199,999                                          28      3.13     321      2.43     527      2.00
     income $200,000 - $499,999                                          25      2.79     461      3.49     717      2.73
     income $500,000 and more                                            10      1.12     118      0.89     170      0.65
     2012 est. average Household income                                $59,006           $67,348           $61,615
     2012 est. Median Household income                                 $37,719           $47,049           $44,352
     2012 est. per Capita income                                       $27,512           $28,317           $25,065




8                                                                                                                       florence | sc
be r k e l e y c a p it a l a d v is ors   831 e ast Morehead | s uite 650 | Charlotte | n orth Carolina | 28202
                                                          704.379.1980 | www.berkeleycap.com
re a l estate inv estm ent sa l es


                                 steve Horvat H                    J ay leve ll
                          hor vath@berkeleycap.com          levell@berkeleycap.com

                                                MegHan knotts
                                           knotts@berkeleycap.com

				
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posted:10/9/2012
language:English
pages:9
Description: Price: $1,592,000 CAP : 7.50%