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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
01F I N A N C I A L
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02I N V E S T M E N T
O V E R V I E W
03M A R K E T
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TABLE OF CONTENTS
Table of Contents
SHOPPESATGREENCASTLE
SHOPPES AT GREENCASTLE
Financial Overview
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
S H O P P E S A T G R E E N C A S T L E | G R E E N C A S T L E , I N1 3 6 0 I N D I A N A P O L I S R O A D
F I N A N C I A L
O V E R V I E W
01
SHOPPES AT GREENCASTLE
➢ 21,203sf Multi-Tenant Retail Center | Comprised of 11 Suites
➢ Currently 64% Occupied | Strong Upside Potential in Leasing 4 Vacant Suites
➢ National & Local Tenants Including Subway, Jackson
Hewitt, Check Into Cash & Casa Grande
➢ All NNN Leases | Minimal Landlord Responsibility with Tenants Reimbursing for Pro Rata Share of All Expenses
➢ Minimal Lease Rollover Risk | 47% of the GLA Leased until at least December 2023 | 30% of the GLA Leased until February 2025
Executive Summary | 4
ADDRESS:1360 Indianapolis Road, Greencastle, Indiana 46135
PRICE
$2,000,000
CAP RATE
7.26%
NOI
$145,110
Price: $2,000,000
Cap Rate: 7.26%
Gross Leasable Area: 21,203
Price Per Square Foot: $94.33
Year Built: 2001
Lot Size: 3.41 +/- Acres
Pricing
LEASE TYPES
NNN
ACREAGE
3.41 Acres
Demographics
1-Mile 5-Mile 10-Mile
Population 2,089 15,595 33,055
Average HH Income
$64,483 $70,307 $70,895
SQ FOOTAGE
21,203
Investment Highlights
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
SHOPPES AT GREENCASTLE
SUMMARY
Price: $2,000,000
Down Payment (100%): $2,000,000
Current CAP: 7.26%
Cash on Cash: 7.04%
Square Feet 21,203
Cost per Square Feet: $94.33
Lot Size: 3.41 Acres
CURRENT OPERATING DATA Pro-Forma (90% Occupied)
Scheduled Gross Income: $274,026 $274,026
Tax Reimbursement: $24,464 $33,816
Insurance Reimbursement: $3,118 $4,310
CAM Reimbursement: $26,345 $36,416
Management Reimbursement: $3,962 $3,962
Total Income: $331,915 $352,530
Actual Vacancy: $93,200 28.08% $35,253 10.00%
Gross Operating Income: $238,715 $317,277
Less Expenses: $93,605 $98,150
Net Operating Income: $145,110 7.26% $219,127 10.96%
Capital Reserves ($.20): $4,241 ($.20) $4,241
Loan Payments: $- $-
Pre Tax Cash Flow: $140,870 7.04% $214,886 10.74%
Plus Principal Reduction: $- $-
Total Return Before Taxes: $140,870 7.04% $214,866 10.74%
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
Operating Statement | 5
EXPENSES
Taxes: $1.80 $38,132
Insurance (Actual): $0.23 $4,860
CAM: $1.94 $41,064
Management Fee: 4.00% $9,549
TOTAL EXPENSES: $93,605
Per Rentable Square Foot $4.41
PROJECTED EXPENSES
Common Area Maintenance
Utilities $12,381
Trash Removal $4,426
Repairs & Maintenance $10,220
Landscaping $9,037
Snow Removal $5,000
Total CAM $41,064
Real Estate Taxes $38,132
Insurance $4,860
TOTAL Expenses: $84,056
UNDERWRITING ASSUMPTIONS
SHOPPES AT GREENCASTLE
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
Rent Roll | 6
Suite Tenant Sq. Ft.% of GLA
Lease Start
Lease End Monthly Rent Annual RentRent PSF
Esc DateNew Rent
Annual Reimb.
Lease Type
Options
A Subway 2,403 11.33% 12/1/2001 12/31/2023 $3,442.80 $41,313.60 $17.19 $9,526.32 NNN (2) 5-Yr
Option I 1/1/2024 $47,943
Option II 1/1/2029 $54,637
B Vacant 3,400 16.04% $3,116.67 $37,400.00 $11.00 $13,478.77 NNN
D Extreme Tanning 3,000 14.15% 8/23/2001 2/28/2025 $2,805.00 $33,660.00 $11.22 3/1/2020 $36,000 $12,867.70 NNN (1) 5-Yr
Option I 3/1/2025 $42,000
G Vacant 1,800 8.49% $1,950.00 $23,400.00 $13.00 $7,135.82 NNN
H Identity Hair Salon 1,200 5.66% 9/25/2001 2/28/2020 $1,450.00 $17,400.00 $14.50 $5,147.08 NNN (1) 5-Yr
Option I 3/1/2020 $16,800
Option I 3/1/2022 $17,400
IJackson Hewitt/Kibiger
Enterprises1,200 5.66% 2/1/2006 10/31/2020 $1,288.00 $15,456.00 $12.88 7/1/2020 $15,468 $5,147.08 NNN
J Oriental Restaurant 1,200 5.66% 8/1/2004 7/31/2024 $1,300.00 $15,600.00 $13.00 8/1/2021 $16,200 $5,147.08 NNN
K Vacant 1,200 5.66% $1,350.00 $16,200.00 $13.50 $4,757.21 NNN
L Vacant 1,200 5.66% $1,350.00 $16,200.00 $13.50 $4,757.21 NNN
M Check Into Cash 1,200 5.66% 5/1/2004 12/31/2020 $1,383.00 $16,596.00 $13.83 $5,470.80 NNN
N Casa Grande 3,400 16.04% 1/1/2008 2/28/2025 $3,400.00 $40,800.00 $12.00 3/1/2020 $44,200 $14,583.39 NNN (1) 5-Yr
Option I 3/1/2026 $47,600
Current Totals 21,203 100% $22,835 $274,026 $12.92 $88,018
Occupied 13,603 64.16% $15,069 $180,826 $13.29 $57,889
Vacant 7,600 35.84% $7,767 $93,200 $12.26 $30,129
SHOPPES AT GREENCASTLE
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
Tenant Profiles | 7
Subway is one of the fastest-growing franchises in the world andis a privately held fast food restaurant franchise that primarily sellssubmarine sandwiches and salads. Subway now has more than45,000 stores located in more than 100 countries. More than halfof the stores are located in the United States. Subway is thelargest single-brand restaurant chain and the largest restaurantoperator in the world. Subway’s international headquarters are inMilford, Connecticut, with 5 regional centers supporting thecompany’s international operations.
Headquarters: Milford, Connecticut
No. of Locations: 44,830+
Symbol: Private
Website: www.subway.com
Square Footage: 33,800
Lease Start: December 1, 2001
Lease Expiration: December 31, 2023
Extreme Tanning is now Palm Beach Tan and is known for itsstrives to create a safer tanning process while still achieving theperfect sunbed color. The company has more than 500 locationsand is headquartered in Coppell, Texas. They offer sunbedtanning, spray tanning and several other skin care needs.
Headquarters: Coppell, Texas
No. of Locations: 500+
Symbol: Private
Website: www.palmbeachtan.com
Square Footage: 3,000
Lease Start: August 23, 2001
Lease Expiration: February 28, 2025
SHOPPES AT GREENCASTLE
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
Tenant Profiles | 8
Jackson Hewitt Tax Service Inc. is the second-largest taxpreparation service in the United States, responsible for preparingover 2 million federal, state, and local income tax returns eachyear. The company is based in Jersey City, New Jersey. Itoperated more than 6,000 franchised and company-ownedlocations including 3,000 located in Walmart stores nationwide.
Headquarters: Jersey City, New Jersey
No. of Locations: 6,000+
Symbol: Private
Website: www.jacksonhewitt.com
Square Footage: 1,200
Lease Start: February 1, 2006
Lease Expiration: October 31, 2020
Check Into Cash is a financial services retailer with more than1,100 stores in 30 states. The company was founded in 1993 inCleveland, Tennessee where the headquarters are locatedtoday. The firm offers payday loans, online payday advances,title loans, bill payment services, check cashing, reloadableprepaid debit cards, and Western Union money transfers andmoney order services.
Headquarters: Cleveland, Tennessee
No. of Locations: 1,100+
Symbol: Private
Website: www.checkintocash.com
Square Footage: 1,200
Lease Start: May 1, 2004
Lease Expiration: December 31, 2020
SHOPPES AT GREENCASTLE
Investment Overview
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
S H O P P E S A T G R E E N C A S T L E | G R E E N C A S T L E , I N1 3 6 0 I N D I A N A P O L I S R O A D
I N V E S T M E N T
O V E R V I E W
02
SHOPPES AT GREENCASTLE
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
Investment Overview | 10
INVESTMENT HIGHLIGHTS
➢ Next to Walmart Supercenter & the 1+ Million
Square Foot Walmart Distribution Center
➢ Value-Add Opportunity | 64% Occupancy
with Upside in Leasing 4 Vacant Suites
➢ NNN Leases | Minimal Landlord Responsibility
| Tenants Reimburse for Pro Rata Share of All
Expenses
➢ Strong Mix of National & Local Tenants
Including Subway, Palm Beach Tan, Jackson
Hewitt, Check Into Cash & Casa Grande
➢ College Town | DePauw University (2,300
Students) | Campus is 2.5 Miles Away
➢ Minimal Lease Rollover Risk | 47% of the GLA
Leased until at least December 2023 | 30%
of the GLA Leased until February 2025
➢ Greencastle is 34 Miles from Terre Haute
(Home of Indiana State University) & 41 Miles
from Downtown Indianapolis
Marcus & Millichap is proud to present the opportunity to acquire the feesimple interest in the Shoppes at Greencastle located in Greencastle, Indiana.
The Shoppes at Greencastle is a 21,203 square foot multi-tenant retail centerpositioned on 3.41 acres with excellent exposure along Indianapolis Road. Theshopping center sits next to a Buffalo Wild Wings and Dollar General centerand next to the Walmart Supercenter just east of it. There is also a WalmartDistribution Center located directly behind it and a Heartland Automotiveplant as well, which provide strong daytime traffic to Subway and CasaGrande for lunch. The Walmart Distribution Center is a major economic driverin Greencastle, along with the several other large manufacturing plants forcompanies like Heartland Automotive, International Automotive Components,Ascena, Crown Equipment Corporation and Chiyoda USA Corporation. ThePutnam County Regional Airport sits next to the Walmart Supercenter on theeast side of the building.
In addition to the aforementioned economic drivers, Greencastle is also hometo DePauw University which is a private liberal arts college with enrollmentsurpassing 2,300 students. DePauw University is an NCAA Division III school inthe NCAC Conference and is known for its Tiger mascot. DePauw is ranked inthe top tier of national liberal arts colleges by 2019 U.S. News & World Reportas #56 in the United States. The school was also ranked #78 on the Forbesmagazine’s 2016 rankings, which includes all colleges and universities in thecountry.
The Shoppes at Greencastle is a stabilized investment with low lease rolloverrisk and high upside potential. Over 47 percent of the gross leaseable area isleased until at least December 2023 and more than 30 percent is leased untilFebruary 2025. The center is currently 64 percent occupied offering value addin leasing the four vacant suites. The center has a strong mix of national andlocal tenants including Subway, Palm Beach Tan, Jackson Hewitt, Check IntoCash and Casa Grande among others. All leases are triple net leavingminimal responsibility for a future landlord.
SHOPPES AT GREENCASTLE
Property Photos | 11
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
SHOPPES AT GREENCASTLE
Drone Photos | 12
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
SHOPPES AT GREENCASTLE
Drone Aerial | 13 SHOPPES AT GREENCASTLE
Distribution Center
SHOPPES AT GREENCASTLE
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
Drone Aerial | 14
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
SHOPPES AT GREENCASTLE
Indianapolis Rd (11,215 VPD)
Distribution Center
SHOPPES AT GREENCASTLE
Market Aerial | 15 SHOPPES AT GREENCASTLE
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
Putnam CountyRegional Airport
SHOPPES AT GREENCASTLE
Indianapolis Rd (11,215 VPD)
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
Local Map | 16
2.5 MILES
DePauw
University
1.4 MILES
Putnam Regional
Airport
0.7 MILES
Walmart Distribution
Center
SHOPPES AT GREENCASTLE
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
Regional Map | 17
123 MILES
Lafayette,
Indiana
41 MILES
Indianapolis,
Indiana
36 MILES
Terre Haute,
Indiana
SHOPPES AT GREENCASTLE
Market Overview
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
S H O P P E S A T G R E E N C A S T L E | G R E E N C A S T L E , I N1 3 6 0 I N D I A N A P O L I S R O A D
M A R K E T
O V E R V I E W
03
SHOPPES AT GREENCASTLE
Greencastle, Indiana | 19
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260282
Greencastle, Indiana is a city in
Greencastle Township, Putnam County,Indiana and is the county seat ofPutnam County. It is located nearInterstate 70 approximately halfwaybetween Terre Haute (home of IndianaState University) and Indianapolis in thewest-central portion of the state.Greencastle sits conveniently within anhour of Indianapolis, Lafayette,Bloomington and Terre Haute and issurrounded by rich farm land. The cityboasts a mix of industrial andcommercial businesses, with a uniqueblend of recreational opportunities.
Is an NCAA Division III school and is amember of both the Great LakesColleges Association and the NorthCoast Athletic Conference with theirMascot being a Tiger. Greencastle isalso home of an Ivy Tech Community
College campus. Ivy Tech serves morethan 200,000 students annually across40 campuses.
Greencastle ishome to DePauwUniversity, which isa private liberalarts college withenrollment of 2,300students. DePauw
SHOPPES AT GREENCASTLE
GREENCASTLE, INDIANA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015
Marcus & Millichap ACT ID Y0260267
Indianapolis Overview | 20
OVERVIEW
Indianapolis
The Indianapolis metro is situated in central Indiana and consists of 11
counties: Marion, Johnson, Hamilton, Boone, Hendricks, Morgan,
Hancock, Shelby, Brown, Putnam and Madison. The metro lacks
formidable development barriers, except for the several rivers and
creeks that traverse the region. Marion County is home to
Indianapolis, the capital city, which contains a population of
approximately 856,000 people. Carmel in Hamilton County is the
second most populous with nearly 90,000 residents. Population
growth is primarily concentrated to the northern suburbs and west of
the city.
METRO HIGHLIGHTS
PREMIER DISTRIBUTION HUB
Around 50 percent of the U.S. population lies within
a one-day drive of Indianapolis, making it a center
for the transportation of goods.
MAJOR HEALTH SCIENCES CENTER
Eli Lilly & Co., Roche Diagnostics Corp. and
Covance Inc. maintain operations in the region,
among other major health-related employers.
LOW COST OF DOING BUSINESS
Indianapolis’ costs are far below national averages,
attracting businesses and residents to the area.
MARKET OVERVIEW
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
SHOPPES AT GREENCASTLE
ECONOMY▪ Indianapolis underwent an economic renaissance during the past two decades,
diversifying from a manufacturing-based economy into a variety of other employment
sectors.
▪ The metro is one of the key health-sciences centers in the nation, anchored by several
pharmaceutical and life-sciences companies.
▪ The metro is accessible to a large portion of the nation in one day by ground or air,
making the region a burgeoning logistics and distribution hub.
▪ Annual GMP tops the national level, a trend that is set to persist over the next five years.
SHARE OF 2016 TOTAL EMPLOYMENT
MAJOR AREA EMPLOYERS
Eli Lilly & Co
Indiana University Health
Rolls-Royce Corp.
Community Health
Marsh Supermarkets
Kroger
IUPUI
FedEx
Roche Diagnostics
Finish Line* Forecast
MANUFACTURING
9%GOVERNMENT
HEALTH SERVICES
EDUCATION AND
+
OTHER SERVICES
4%
LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES
22%
AND UTILITIES
TRADE, TRANSPORTATION CONSTRUCTION
PROFESSIONAL AND
BUSINESS SERVICES
2%INFORMATION
15%
5%
13% 10% 6%
15%
21
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015
Marcus & Millichap ACT ID Y0260267
MARKET OVERVIEW
Indianapolis Overview | 21
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
SHOPPES AT GREENCASTLE
DEMOGRAPHICS
SPORTS
EDUCATION
ARTS & ENTERTAINMENT
▪ The metro is expected to add nearly 110,000 people through 2021, which will result
in the formation of nearly 40,000 households, generating demand for housing.
▪ A median home price below the national level has produced a homeownership rate
of 66 percent, which is above the national rate of 64 percent.
▪ Roughly 31 percent of people age 25 and older hold bachelor’s degrees; among
those residents, 11 percent also have earned a graduate or professional degree.
Indianapolis offers residents many big-city amenities in an affordable, small-town
atmosphere. The city is home to several high-profile auto races, including the Indianapolis
500 and Brickyard 400. Races are hosted at the Indianapolis Motor Speedway and the
Lucas Oil Raceway at Indianapolis. The metro has two major league sports teams: the
Indianapolis Colts (NFL) and the Indiana Pacers (NBA). The area also has a vibrant cultural
and arts scene, with more than 200 art galleries and dealers, the Indianapolis Symphony
Orchestra and a variety museums, including the Eiteljorg Museum of American Indians and
Western Art. Additionally, the Children’s Museum of Indianapolis is one of the largest
children’s museums in the world.
36.2
2016MEDIAN AGE:
U.S. Median:
37.7
$53,700
2016 MEDIAN HOUSEHOLD INCOME:
U.S. Median:
$54,500
2M
2016POPULATION:
Growth2016-2021*:
5.3%
774K
2016HOUSEHOLDS:
5.6%
Growth2016-2021*:
QUALITY OF LIFE
2016 Population by Age
0-4 YEARS
7%5-19 YEARS
21%20-24 YEARS
7%25-44 YEARS
28%45-64 YEARS
26%65+ YEARS
12%
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s
Analytics; U.S. Census Bureau
MARKET OVERVIEW
Indianapolis Overview | 22
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
SHOPPES AT GREENCASTLE
The current year racial makeup of your selected area is as follows:92.91% White, 1.77% Black, 0.04% Native American and 2.35%Asian/Pacific Islander. Compare these to US averages which are:70.20% White, 12.89% Black, 0.19% Native American and5.59% Asian/Pacific Islander. People of Hispanic origin arecounted independently of race.
People of Hispanic origin make up 2.20% of the current yearpopulation in your selected area. Compare this to the US averageof 18.01%.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
Demographic Summary | 23
Population
Households
Income
Race and Ethnicity
Employment
In 2018, the population in your selected geography is 15,595. Thepopulation has changed by -0.19% since 2000. It is estimated thatthe population in your area will be 15,747.00 five years from now,which represents a change of 0.97% from the current year. Thecurrent population is 47.85% male and 52.15% female. The medianage of the population in your area is 34.77, compare this to the USaverage which is 37.95. The population density in your area is 198.29people per square mile.
There are currently 5,329 households in your selected geography.The number of households has changed by 1.10% since 2000. It isestimated that the number of households in your area will be 5,458five years from now, which represents a change of 2.42% from thecurrent year. The average household size in your area is 2.46 persons.
In 2018, there are 8,924 employees in your selected area, this isalso known as the daytime population. The 2000 Census revealedthat 50.66% of employees are employed in white-collaroccupations in this geography, and 49.68% are employed in blue-collar occupations. In 2018, unemployment in this area is 5.57%.In 2000, the average time traveled to work was 21.00 minutes.
In 2018, the median household income for your selected geographyis $52,249, compare this to the US average which is currently$58,754. The median household income for your area has changedby 48.06% since 2000. It is estimated that the median householdincome in your area will be $56,400 five years from now, whichrepresents a change of 7.94% from the current year.
The current year per capita income in your area is $25,891, comparethis to the US average, which is $32,356. The current year averagehousehold income in your area is $70,307, compare this to the USaverage which is $84,609.
SHOPPES AT GREENCASTLE
POPULATION 1 Miles 5 Miles 10 Miles
▪ 2023 Projection
Total Population 2,192 15,747 33,625
▪ 2018 Estimate
Total Population 2,089 15,595 33,055
▪ 2010 Census
Total Population 2,063 15,831 33,276
▪ 2000 Census
Total Population 1,819 15,624 31,329
▪ Current Daytime Population
2018 Estimate 3,085 17,354 26,257
HOUSEHOLDS 1 Miles 5 Miles 10 Miles
▪ 2023 Projection
Total Households 1,060 5,458 11,444
▪ 2018 Estimate
Total Households 998 5,329 11,089
Average (Mean) Household Size 2.28 2.46 2.55
▪ 2010 Census
Total Households 1,001 5,391 11,092
▪ 2000 Census
Total Households 874 5,271 10,585
▪ Occupied Units
2023 Projection 1,060 5,458 11,444
2018 Estimate 1,083 6,004 12,852
HOUSEHOLDS BY INCOME 1 Miles 5 Miles 10 Miles
▪ 2018 Estimate
$150,000 or More 3.64% 5.27% 6.04%
$100,000 - $149,000 11.53% 12.45% 12.16%
$75,000 - $99,999 17.00% 14.31% 16.72%
$50,000 - $74,999 12.21% 20.16% 20.80%
$35,000 - $49,999 16.69% 15.38% 15.74%
Under $35,000 38.93% 32.45% 28.54%
Average Household Income $64,483 $70,307 $70,895
Median Household Income $44,125 $52,249 $56,130
Per Capita Income $31,374 $25,891 $25,436
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358
Demographic Report | 24 SHOPPES AT GREENCASTLEHOUSEHOLDS BY EXPENDITURE 1 Miles 5 Miles 10 MilesTotal Average Household Retail Expenditure
$58,955 $63,161 $66,340
▪ Consumer Expenditure Top 10 Categories
Housing $15,818 $16,549 $17,167
Transportation $10,227 $11,400 $12,047
Shelter $8,927 $9,339 $9,680
Food $6,187 $6,780 $7,118
Personal Insurance and Pensions $5,303 $6,135 $6,667
Health Care $4,930 $5,026 $5,247
Utilities $3,632 $3,799 $3,927
Entertainment $2,551 $2,839 $3,018
Cash Contributions $1,945 $1,870 $1,885
Household Furnishings and Equipment
$1,586 $1,667 $1,752
POPULATION PROFILE 1 Miles 5 Miles 10 Miles
▪ Population By Age
2018 Estimate Total Population 2,089 15,595 33,055
Under 20 23.51% 26.68% 23.91%
20 to 34 Years 16.58% 23.55% 22.59%
35 to 39 Years 5.81% 4.90% 5.59%
40 to 49 Years 10.75% 10.32% 12.03%
50 to 64 Years 18.93% 17.64% 19.91%
Age 65+ 24.43% 16.91% 15.96%
Median Age 44.00 34.77 38.13
▪ Population 25+ by Education Level
2018 Estimate Population Age 25+ 1,472 9,245 21,673
Elementary (0-8) 2.70% 2.17% 2.32%
Some High School (9-11) 9.78% 9.74% 9.48%
High School Graduate (12) 38.58% 40.20% 41.65%
Some College (13-15) 14.86% 17.82% 21.06%
Associate Degree Only 5.31% 6.17% 7.32%
Bachelors Degree Only 14.38% 11.71% 10.11%
Graduate Degree 14.21% 11.96% 7.77%
Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:
The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has
Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any
information provided.
As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing
Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this
Property for Buyer.
Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased
property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors.
Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the
property for your needs.
Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the
property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including
newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not
guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to
market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value
of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be
able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.
By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your
investigation and/or purchase of this net leased property.
NET LEASED DISCLAIMER
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended
to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus &
Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
NON-ENDORSEMENT NOTICE
CONFIDENTIALITY & DISCLAIMER
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be
made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepare to provide summary, unverified information to prospective
purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has
not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and
square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the
improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this
Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, not has Marcus &
Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers
must take appropriate measures to verify all of the information set forth herein.
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