Alpharetta, GA 30022 770.481.1960 › ... · 5755 North Point Parkway, Suite 262 Alpharetta, GA 30022 770.481.1960 WARNER ROBINS PLACE 2764 Watson Blvd., Centerville, GA

5755 North Point Parkway, Suite 262

Alpharetta, GA 30022

770.481.1960

www.shanegroup.net

WARNER ROBINS PLACE

2764 Watson Blvd., Centerville, GA

5755 North Point Parkway, Suite 262

Alpharetta, GA 30022

770.481.1960

www.shanegroup.net

http://www.shanegroup.net

http://www.shanegroup.net

The Shane Investment Property Group, LLC has been engaged as the exclusive agent and representative of the Owner. No

contacts shall be made by any prospective purchaser or agents to the Owner, its executives, personnel or related entities.

This Investment Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly

reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves

the right, at its sole discretion, to terminate discussions with any entity at any time with or without notice. The Owner shall have no

legal commitment or obligation to any entity reviewing the Investment Offering Brochure or making an offer to purchase the

Property unless and until the Owner executes and delivers a signed Purchase Agreement on terms acceptable to the Owner, at

Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and

agrees to release the Owner from any liability with respect hereto.

The enclosed materials are being provided solely to facilitate the prospective purchaser’s own due diligence for which the

purchaser shall be fully and solely responsible.

Neither the Shane Investment Property Group, LLC nor the Owner make any representation or warranty, express or implied, as to

the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied upon as a promise

or representation as to the future performance of the Property. This Investment Offering Brochure may include certain

statements and estimates by the Shane Investment Property Group, LLC with respect to the projected future performance of the

Property. These assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be

achieved. Further, the Shane Investment Property Group, LLC and the Owner disclaim any and all liability for representations or

warranties, expressed or implied, contained in or omitted from this Investment Offering Brochure, or any other written or oral

communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those

representations and warranties that may be made to it in any final, fully executed and delivered Purchase Agreement between it

and the Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not look to the

Owner or the Shane Investment Property Group, LLC, nor any of their officers, employees, representatives, independent

contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Investment Offering Brochure are advised

and encouraged to conduct their own comprehensive review and analysis of the Property.

2764 Watson Blvd., Centerville, GA 770.481.1960 | www.shanegroup.net

WARNER ROBINS PLACE


WARNER ROBINS PLACE

See accompanying Confidentiality Statement.

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ROBINS AFB ARTICLE

RENT COMPARABLES

Warner Robins Place occupies an excellent location, in the heart of 3.5mm square feet of retail. It is located in Centerville, Georgia

directly adjacent to Warner Robins and nearby Robins Air Force Base. Robins Air Force Base is over 6,935 acres and home to

22,000 Airmen and civilian contractors from 54 different mission partners. Robins Air Force Base has an annual economic impact

of $2.87 Billion to Georgia, and a $1Bn civilian payroll! Warner Robins AFB is currently expanding by nearly 1,200 civilian

employees.

There are over 108,000 people within a 5-mile area with an average household income of approximately $70,000 per year. While

the household income exceeds the national and state averages, the average housing cost averages only $150,000, meaning families

have more spendable income than in most areas of the country. Additionally, there is a daytime population of over 37,000 people

within 5 miles, making this area a popular location both daytime and evening/weekend.

BUILDING: 10,500 SF | LAND: 1.08 ACRES | YEAR BUILT: 2017

6 Tenants / Ease of Management

Average Lease Term of over 8 Years Remaining

Most Tenants are Multi-Unit Operators

Major Retail Hub—Over 3.5mm SF of Retail Nearby; only 4% Vacancy Factor

Nearby Significant Traffic Generators—Regional Mall, Multiple Power Centers, and the Largest Military Base in the Southeast (Robins Air Force Base)

Warner Robins Place is a 10,500-square-foot, 6-tenant retail center, newly built and located in Warner Robbins (Centerville),

Georgia. Warner Robins is a prosperous MSA just south of Macon—Georgia’s second largest City. The property is in the heart of

the regional retail hub, which includes over 3.5mm square feet of retail with only 4% vacancy. Nearby traffic generators, including

a Regional Mall (Houston Galleria) and several power centers, include the “who’s who” of national retailers like Academy Sports,

Walmart, Lowe’s, Home Depot, Target, Kohl’s, Best Buy and many of the nation's hottest restaurants including Chipotle, Starbucks,

Panda Express, Cheddar’s, and many more. Furthermore, the town is anchored by the largest military and industrial complex in the

southeast, the Robins Air Force Base. The base has been in business since 1942 and has more than 7,500 civilian employees plus

16,000 military personnel. They are currently expanding their employment by 1,200 additional personnel.


WARNER ROBINS PLACE

Robins AFB halfway to its 1,200 hiring goal

A new hiring initiative at Robins Air Force Base will add 1,200 jobs

over the next year. The new workforce is needed to address growing

demand for depot maintenance, engineering support and software

development for certain aircraft and new missions, leaders at the base

in Warner Robins in Middle Georgia said.

In an August press conference, Brig. Gen. John Kubinec, commander

of Warner Robins Air Logistics Complex, announced that the “1,200 in

12” hiring program to be completed by the end of fiscal 2019.

Robins Air Force Base (RAFB) is the largest employer in the region.

Among its 22,257 total personnel, 5,938 are military members, 13,686

are appropriated fund civilians and 2,633 employees are funded by

other sources, according to a base economic impact report. In fiscal

year 2017, RAFB exerted a $2.87 billion total annual economic impact

on Georgia, representing an $11 million increase over the previous

fiscal year. The “1,200 in 12” program is projected to have an annual

economic impact of $69 million and more than $345 million over the

next five years.

In his presentation, Kubinec said the accelerated workforce expansion

is driven by growing need for depot maintenance, engineering support

and software development regarding weapons systems including F-15,

C-5, C-130, C-17 and Special Operations Forces aircraft, as well as

new missions being introduced by the Pentagon. Among those

missions is the Advanced Battle Management System (ABMS), which

performs global space intelligence and reconnaissance.

Assisting in the hiring process is 21st Century Partnership, a 501(c)(3)

organization dedicated to fostering regional development and ensuring

the long-term viability and sustainability of RAFB. The program also

received a boost from the recent granting of direct hiring authority to

RAFB by the federal government’s Office of Personnel Management,

which expedites hiring qualified candidates by eliminating some red

tape.

Three months from the announcement, in mid-November, the “1,200 in

12” program was almost halfway to accomplishing its mission with

550 new hires.

“We are very pleased with the progress of the hiring effort so far,”

Kubinec said via email in late November. “The response to this effort

has been tremendous and we continue to hire highly qualified

candidates into our workforce.”

Stacey Wood, chief of Human Resources Management at Warner

Robin Air Logistics Complex, further updated Atlanta Business

Chronicle on the program in a recent interview:

For what types of jobs and skills is RAFB hiring? Some of our

larger buckets of jobs include experienced aircraft mechanics,

sheetmetal mechanics, aircraft electricians and engineers in virtually

all disciplines, but especially electronics engineers. In fewer numbers,

we are looking for tool and parts attendants, powered system

mechanics and various other skills categories.

More than 800 aerospace companies including Lockheed Martin,

Boeing, Northrop Grumman and Gulfstream have a presence in

Georgia. In what way does the workload expansion at RAFB

reflect the general growth trend in the state’s aerospace sector?

The Air Force mission is growing in general along with the aerospace

industry at large. The need for these types of skills stands not only at

Warner Robins, but across the spectrum of the industry. We are in

direct competition for skilled labor with companies such as Gulfstream

and Delta Air Lines.

What are some advantages that would compel a job candidate to

choose working at RAFB over a competitor in the commercial or

private sector? With civil service work, particularly at the Robins Air

Logistics Complex, there is tremendous job security. The Warner

Robins facility was officially dedicated in April 1943. Since then,

we’ve

never experienced a large-scale reduction in workforce.

If you get hired at the ALC, you essentially have a job for life. Being

in the civil service means you can earn time off and accumulate leave

time. Plus, being on the Air Force team, you’re supporting our war

fighters around the world, which is a point of pride.

What are some of the major facets of your recruiting strategy? We

have tremendously increased our participation in job fairs and work

fairs, not only in the local area, but across the greater Southeast.

Sometimes, based on qualifications and a brief interview, a candidate

at a job fair is issued a tentative job offer right on the spot.

In partnership with 21st Century Partnership, we developed a website

where candidates can submit resumes directly into our database. They

can also go to www.USAJobs.gov and follow the application process

or submit a resume.

Once a candidate submits a resume, if he or she is not contacted within

six months, he or she should submit another resume because the

database is periodically purged to keep it fresh. We have had as many

as 3,000 resumes on file, but it usually numbers around 2,000, which

represents an exponential increase following Brig. Gen. Kubinec’s

announcement in August of the “1,200 in 12” program.

The front of a C-5 Galaxy aircraft in the depot maintenance

hangar at Robins Air Force Base in Warner Robins, GA

Atlanta Business Chronicle, Macon Market Report, December 7-13, 2018

Robins Air Force Base by the numbers

• RAFB employs 22,257 personnel

• Annual federal payroll at RAFB is $1.38 billion; annual expenditures are $398.3 million

• In FY 2017, RAFB exerted a $2.87 billion economic impact on Georgia, an $11 million

increase from FY 2016


WARNER ROBINS PLACE


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SUBJECT

Watson Blvd—35,200 Cars Per Day

Covers 6,935 acres and is Georgia’s largest single-site industrial complex. Home to 54

mission partners, covering 5 major commands and 3 wings, totaling 8,000 civilian employees, plus 16,000 military personnel. It has been in existence since 1942. Robins AFB has an annual economic impact of approximately $2.87 Billion. The civilian payroll exceed $1Bn . The AFB is currently hiring an additional 1,200 civilian employees!


WARNER ROBINS PLACE


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Watson Blvd—35,200 Cars Per Day

SUBJECT


WARNER ROBINS PLACE


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Please note: Lot Lines are Approximate

Future

Retail


WARNER ROBINS PLACE


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WARNER ROBINS PLACE


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Not For

Sale

100 200 300 400 500 700

Suite 100—1,700 SF

Suite 200—1,500 SF

Suite 400—1,720 SF

Lease Guaranty

Suite 300—1,380 SF

Suite 500—1,600 SF

Suite 700—2,600 SF

GLA: 10,500 Parking: 64 Spaces or 6.1 / 1000

Land: 1.08 acres Superior access, parking and circulation


WARNER ROBINS PLACE


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PROPERTY

Warner Robbins Place 10,500

2764 Watson Blvd.

3-Tenant Retail 7,600

2745 Watson Blvd.

2-Tenant Retail 6,592

2971 Watson Blvd.

Shops at Margie Drive 10,430

133 Margie Drive

$30 to $32 PSF

OCCUPANCY

100%

with guaranty

Batteries + Bulbs, Your Pie, WingStop, Tropical Smoothies, Hearing Aids

TENANTS

100%

BLDG. SQ. FT

$27 to $30 PSF

RENTS

100%

$27 to $31 PSF

Aspen Dental, Sprint, Vision Works

Panera Bread, Vitamin Shoppe

100%1

2

3 $27 to $28 PSF Chipotle, Five Guys, Uncle Madio's Pizza,

Total Nutrition, Jersey Mike's Subs

SUBJECT

1 2

3


WARNER ROBINS PLACE


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START EX PIRAT ION

Batteries Plus 1,700 16.19% Oct-16 Oct-29 $52,700 $31.00 $7,650 5% on 5/1/24

Wing Stop 1,500 14.29% Feb-17 Feb-27 $45,000 $30.00 $6,750 10% every 5

Hearing Aids 1,380 13.14% Nov-18 Feb-24 $38,640 $28.00 $6,210 3% per Year

Lease Guaranty 1,720 16.38% $48,160 $28.00 $7,740 N/A

Tropical Smoothies 1,600 15.24% May-18 Dec-28 $43,200 $27.00 $7,200 10% every 5

Your Pie Pizza 2,600 24.76% Dec-17 Dec-27 $72,800 $28.00 $11,700 10% every 5

10,500 $47,250

Occupied 100% 10,500 100.00% $300,500 $28.62 $47,250

Vacant % #DIV/0!

Term to be negotiated

1 x 5

TENANT

300

2 x 5

2 x 5

400

500

700

N/A

OPTIONS

2 x 5

2 x 5200

ANNUAL

RENT/SQ. FT. ESCALATIONS

ESTIMATED

RECAPTURE

100

SQUARE

FOOTAGE

ANNUAL

BASE RENT

% OF

CENTER

LEASE TERM

SUITE

$300,500


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ROBINS AFB ARTICLE

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B u i l d i n g

Price: 2017

Down Payment: 35.00% Building Square Feet: 10,500

7.50% Land Parcel (Acres): 1.08

$356.52

$28.62

First Loan Amount: ◼

◼ Interest Rate: 5.00% ◼

◼ Amortization: 25 ◼

◼ Term: 5 ◼

Monthly Payment: ◼

Current Rents

300,500$ 21,000$

11,285 5,250

47,250 21,000

359,035$ 1,050

17,952 5.0% 4.0% 12,020

341,083$

60,320

280,763$

170,696

110,067$ 8.4%

50,172

160,238$ 12.2% 60,320$

Per Rentable Square Foot: $5.74

$2,433,275

L o a n I n f o r m a t i o n

Wing Stop

Plus Principal Reduction

Loan Payments

$14,224.68

R e t u r n

Net Operating Income

E x p e n s e s

Scheduled Gross Income

Plus Admin / Mgmt Recapture

* Loan above is proposed for cash flow purposes. Buyer

may obtain new loan or pay all cash.

Pre Tax Cash Flow

Gross Operating Income

Total Income

Plus CAM, Taxes, Ins. Recapture

Total Return Before Taxes

Less Vacancy

Total Expenses

$3,743,500

Your Pie

Cost per Gross Square Foot:

Batteries Plus

Hearing Aid

Tropical Smoothies

T e n a n t s

Annual Rent per Square Foot:

$1,310,225

Year Built:

Current CAP:

F i n a n c i a l

Taxes (est.)

Less Expenses

Maintenance

Insurance

Reserves ($0.10 PSF)

Management


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Batteries + Bulbs

www.batteriesplus.com

WingStop

www.wingstop.com

Elite Hearing Centerswww.elitehearingcenters.com

Tropical Smoothie Caféwww.tropicalsmoothiecafe.com

Your Pie

www.yourpie.com

In 2006, Drew French was visiting his wife’s family in Ischia, a small volcanic island located 19 miles from

the city of Naples, Italy. It was there that he fell in love with the region’s use of brick ovens and the

perfectly-crisp doughs and smoky, earthy flavors that came out of it. Inspired, French took the humbling

experience home with him, and once his feet were planted back on American soil, he put himself to work.

Two years later, Your Pie was born. The first store opened its doors in 2008 in Athens, Georgia, and

forever changed the way people experience pizza. Today, Your Pie operates approximately 40 locations

across 4 states. Location operated by 2 unit operator.

Batteries Plus Bulbs was the first organization to respond to the evolving needs of the replacement

battery market. Their first store opened in 1988 in Green Bay, WI and franchising began in 1992. In 2010,

they refined the model of the all-battery franchise by adding light bulbs. In 2014, they launched

smartphone and tablet repair services nationwide, providing in-store repairs for cracked screens, battery

replacements, and more. They are the nation’s largest and fastest-growing battery, light bulb and

smartphone/tablet repair franchise with a nationwide network of over 700 stores. In 2014 and 2015 they

were named as one of the Top 10 Best Franchises to Buy in America by Forbes, within their investment

category, and the #1 franchise in the battery category by Entrepreneur magazine for the last seven years.

Batteries Plus Bulbs continues to reign as the undisputed leader in the expanding $32 Bn U.S. battery

replacement market, the growing $22 Bn U.S. light bulb replacement market, and the $2.4 Bn smartphone

repair industry. Location operated by 6 unit operator; who just renewed and extended his Lease to 10

WingStop is traded on the Nasdaq ("WING") and has a Market CAP over $1.8 Billion. They have over

1,200 locations worldwide. WingStop's mission is: "We’re not in the wing business. We’re in the flavor

business." They first opened in 1994, then opened their first franchised location in 1997. By 2002, they

had served the world one billion wings. It’s flavor that defines them and has made Wingstop one of the

fastest growing brands in the restaurant industry. Location operated by 29-unit operator.

Elite Hearing Centers of America has 23 locations in 3 states. They were founded by some of the

industry’s most experienced private practice owners in the United States. At Elite Hearing Centers they

focus on what matters most to their patients: the highest quality service, industry leading products, and a

NO EXCUSES 100% satisfaction guarantee! They carry the industries leading manufacturers of hearing

aids at the most affordable prices.

Tropical Smoothie Cafe is a restaurant franchise that, in addition to smoothies, the cafes offer sandwiches,

wraps, salads, flat breads, and introduced bowls to their food line in 2017. Tropical Smoothie Cafe

operates more than 700 locations in 44 states with a goal to reach 1,500 locations nationwide by 2025.

Tropical Smoothie Cafe was founded in 1997 and opened their first franchise location in Tallahassee, FL in

1998. Their mission, to this day, is to inspire a healthier lifestyle by serving amazing food and

smoothies…with a bit of tropical fun.


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Gurantor

Termination Date

Term

Increases

Security Deposit

Year Annual Base Rent

10/18/16 to 4/30/24 $52,700

5/1/24 to 10/31/29 $55,335

Option 1 11/1/29 to 10/31/34 $60,869

11/1/34 to 10/31/39 $66,955

Tenant pays Estimated Monthly Pro Rata Share

Operating Costs Operating Costs paid by Tenant include parking lot and roof (amortized over not less than 7 Years)

Admin / Mgmt

13 Years, plus Two 5 Year Options

Tenant R&B Batteries of Warner Robins, LLC d/b/a Batteries Plus Bulbs

Suite / Size Suite 100 / 1,700 SF

Commencement Date October 18, 2016

October 31, 2029

R&B Batteries, LLC - guaranty expires 10/31/21

5% on 5/1/24 and then 10% each Option

None

Rent Schedule Monthly Base Rent

$4,391.67

$5,072.38

Option 2 $5,579.61

$4,611.25

Insurance

CAM

Utilities Paid directly by Tenant

}Taxes

Operating Costs may include a 5% fee of the Annual Operating Costs

Tenant is responsible to maintain, repair and replace HVACHVAC

Landlord Expenses Roof (reimbursed as noted above), structure, load bearing walls, foundations


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Gurantor

Termination Date

Term

Increases

Security Deposit


2/16/17 to 2/28/22 $45,000

3/1/22 to 2/28/27 $49,500

Option 1 3/1/27 to 2/28/32 $54,450

3/1/32 to 2/28/37 $59,895



Admin / Mgmt


Taxes

}Insurance

CAM


HVAC Tenant is responsible to maintain, repair and replace HVAC

Operating Costs may include a 4% Management Fee of the annual Base Rent

Option 2 $4,991.25

February 28, 2027


10% every 5 Years

$4,250.00


$3,750.00

$4,125.00

$4,537.50

Tenant Boss Wings XV, LLC d/b/a Wing Stop

Personal Guaranty


Commencement Date February 16, 2017


WARNER ROBINS PLACE


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Gurantor

Termination Date

Term

Increases

Security Deposit


Months 0-3 $0.00

Months 4-12 $38,640

Year 2 $39,799

Year 3 $40,986

Year 4 $42,228

Year 5 $43,484

Months 61-63 $44,781

Option 1 Five Years



Admin / Mgmt

$0.00

$3,415.50

$3,623.65

$3,731.75

Fair Market Rent with 3% Annual Increases


Taxes


Operating Costs may include a Management Fee (amount left undefined)

$3,220.00

$3,316.60

$3,519.00

}Insurance

CAM


February 29, 2024

5 Years and 3 Months, plus one 5 Year Option

Approximately 3% per year

$3,737.50


Tenant MHC Hearing, LLC d/b/a Elite Hearing Centers of America

Three Personal Guaranties


Commencement Date November 30, 2018


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Gurantor

Termination Date

Term

Increases

Security Deposit


5/2/18 to 12/31/23 $43,200

1/1/24 to 12/31/28 $47,520

Option 1 1/1/29 to 12/31/33 $52,272

1/1/34 to 12/31/38 $57,504



Admin / Mgmt

Tenant KJD Smoothies LLC d/b/a Tropical Smoothie Café

Two Personal Guaranties for the first 5 Years


Commencement Date May 2, 2018

Option 2 $4,792.00

December 31, 2028


10% every 5 Years

$4,200.00


$3,600.00

$3,960.00

$4,356.00


Taxes

}Insurance

CAM



Operating Costs may include a Management Fee not to exceed 5% of rental income


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Gurantor

Termination Date

Term

Increases

Security Deposit


12/5/17 to 12/31/22 $72,800

1/1/23 to 12/31/27 $80,080

Option 1 1/1/28 to 12/31/32 $88,088

1/1/33 to 12/31/37 $96,954



Admin / Mgmt


Taxes

}Insurance

CAM



Operating Costs may include a reasonable Management Fee not to exceed 5%

Option 2 $8,079.50

December 31, 2027


10% every 5 Years

$7,041.67


$6,066.67

$6,673.33

$7,340.67

Tenant Black Chip Investments, LLC d/b/a Your Pie

Personal Guaranty


Commencement Date December 5, 2017


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SUBJECT

Warner Robins Place is located in

Centerville, GA which is directly

adjacent to Warner Robins, GA

and Robins Air Force Base

The base is the single largest

industrial complex in Georgia,

employing a workforce of over

22,000 civilian, contractor, and

military members.

The property is located

approximately 30 minutes south

of Macon, GA and 1.5 hours

south of Atlanta.

Macon, GA

15 miles

Atlanta, GA

100 miles


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Nearby Houston County Mall (Belk, JCPenney) and numerous major retailers (Walmart, Lowe’s, Target)

Approximately 3.5 miles from Interstate 75 and 7 Miles to Robins Air Force Base

SUBJECT

SUBJECT


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One Mile Three Miles Five Miles Notes

2018 Population 5,238 50,613 108,555

2010 Population 5,215 47,403 100,712

5 Year Projected 5,377 53,229 114,254

Growth Since 2010 0.44% 6.77% 7.79%

Projected Growth Over the Next 5 Years 2.65% 5.17% 5.25%

2018 Households 2,293 20,131 41,770

% Owner Occupied 51.1% 57.2% 55.2%

% Renter Occupied 48.9% 42.8% 44.8%

2010 Households 2,288 18,966 39,015

5 Year Projected 2,354 21,124 43,868

Growth Since 2010 0.22% 6.14% 7.06%


2018 Average Household Income $58,127 $71,117 $70,669

5 Year Projected $64,826 $80,655 $79,829


Employment & Establishments

2018 Employees/Daytime Population 6,276 19,659 37,181

2018 Total Establishments 518 1,757 3,098

White 56.9% 59.7% 55.6%

African American 31.6% 29.5% 33.5%

Hispanic Origin (Any Race) 8.7% 8.1% 7.8%

Native American / Alaskan Native 0.5% 0.4% 0.4%

Asian/Pacific Islander 3.3% 3.4% 3.6%

Two or More Races 3.8% 3.5% 3.6%

Other Race 4.1% 3.5% 3.3%

Race

Population

Households

Income

Documents

Alpharetta, GA 30022 770.481.1960 › ... · 5755 North Point Parkway, Suite 262 Alpharetta, GA 30022 770.481.1960 WARNER ROBINS PLACE 2764 Watson Blvd., Centerville, GA