Upload
others
View
3
Download
0
Embed Size (px)
Citation preview
AUDUBON VILLAGE2480 US HIGHWAY41 NORTH
HENDERSON, KY
Neighborhood retail center anchored by Ruler Foods (Kroger), Columbia Sportswear and DaVita Dialysis.
Value-add investment opportunity with year-over-year improved operating performance.
Located within the Evansville IN-KY MSA.
RETAIL INVESTMENT OPPORTUNITY
CONTENTS
This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Anyprojections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and youradvisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photosherein are the property of their respective owners and use of these images without the express written content of the owner is prohibited.
PROPERTY INFORMATION 3
FINANCIAL ANALYSIS 9
LOCATION INFORMATION 14
CONFIDENTIALITY & DISCLAIMER
The information contained herein is proprietary and confidential. It is intended only for the use of the party receiving it from Frontline Real Estate Partners, LLC or NAI Isaac and is not to be duplicated or distributed to any other party without the written approval of Frontline Real Estate Partners, LLC or NAI Isaac. This offering memorandum (“Memorandum”) is subject to the Confidentiality Agreement that was signed by the recipient in advance of receiving this Memorandum.
The purpose of this Memorandum is to provide summary information to prospective investors and to establish a preliminary level of interest in the property. THE INFORMATION IS NOT A SUBSTITUTE FOR A THOROUGH DUE DILIGENCE INVESTIGATION BY THE PROSPECTIVE INVESTOR. Any financial projections contained herein (or in any other evaluation material) are for general reference only and are based on assumptions relating to the overall economy and local competition, among other factors. Accordingly, actual results may vary materially from such projections. Although the information contained herein has been secured by sources believed to be reliable, Frontline Real Estate Partners, LLC and NAI Isaac make NO REPRESENTATION OF WARRANTY, EXPRESS OF IMPLIED, AS TO THE ACCURACY OF THE INFORMATION, including but not limited to income and expenses of the property; projected financial performance of the property; size and square footage of the property; presence or absence of contaminating substances, lead, PCB’s or asbestos; compliance with the Americans with Disabilities Act; physical condition or age of the property or improvements’ suitability for a prospective investors’ intended us; or financial condition or occupancy plans of tenant(s). Frontline Real Estate Partners, LLC and NAI Isaac have not conducted an investigation or verified the information.
This Memorandum does not constitute an offer to sell or a solicitation of an offer to purchase by any person. No obligation to sell shall be binding on the seller unless and until a written contract of sale is signed and delivered by the seller. No legal commitment or obligation shall arise by reason of the Memorandum, any of its contents, or any other information. The seller expressly reserves the right, at its sole and absolute discretion, to reject any or all expressions of interest or offers and/or to terminate discussions with any party at any time with or without notice.
ALL POTENTIAL INVESTORS ARE RESPONSIBLE FOR TAKING APPROPRIATE STEPS TO VERIFY ALL INFORMATION SET FORTH HEREIN AND TO CONDUCT THEIR OWN THOROUGH DUE DILIGENCE BEFORE PURCHASING THE PROPERTY. Potential investors assume all risk for any inaccuracies or inconsistencies. Potential investors should seek advice from their own attorneys, accountants, engineers and environmental experts as applicable and subject in all events to the Confidentiality Agreement signed by the recipient.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE ALLOW 24-48 HOUR NOTICE IN SCHEUDLING YOUR SHOWING.
Vice PresidentO: 224.628.4005C: 224.628.4005E: [email protected]
ANDREW RUBIN
AssociateO: 847.275.6106C: 847.275.6106E: [email protected]
ZACK PEARLSTEIN
Vice PresidentO: 847.780.8063C: 847.542.9058E: [email protected]
MATTHEW TARSHIS
PRESENTED BY
President, NAI IsaacO: 859-422-4400C: 859-221-4000E: [email protected]
AL ISAAC
Assistant Vice President, NAI IsaacO: 859-422-4405C: 859-489-8900E: [email protected]
JOHN P. MILLER
PrincipalO: 847.780.8060C: 847.212.5842E: [email protected]
JOSH JOSEPH
P R O P E R T Y O V E R V I E W
Audubon Village (the "Property") is a 120,959 SF multi-tenant grocery-anchored neighborhood center located along heavily traveled US Highway 41 North in Henderson, KY. The Property
features national tenants including Ruler Foods (Kroger), Columbia Sportswear - Employee Store, and DaVita Dialysis, among others. Due to recent leasing activity, as of November 1, 2018, the Property will be 75.15% leased and generating approximately $335,612 in NOI.
Significant leasing activity since 2016 includes the exercise of a 5-YR extension option by Ruler Foods (Kroger) for their 23,841 SF premises; Columbia Sportswear’s 10-YR, 20,973 SF lease; DaVita’s 10-YR, 7,497 SF lease; and Finders Keepers 5-YR, 30,892 SF lease. Additionally, two adjacent out parcels have been sold and developed with a Wings Etc. and a Fast Pace Urgent Care. Neighboring retailers in close proximity include Starbucks, Showplace Cinemas (8 screens), Ford and Chrysler Auto Dealerships, and several quick serve restaurants such as McDonald's, Burger King and Subway.
The Property is accessible along US Highway 41 North via signalized intersection. It features a dual-sided monument sign and 629 parking spaces.
P R O P E R T Y H I G H L I G H T S
• Excellent opportunity to acquire a grocery-anchored center with strong, in-place
• From 2016 to 2018, the Property has experienced significant leasing activity,
• The corridor continues to attract new tenants and tenants relocating from other, less desirable locations in the area.
PROPERTY INFORMATION
OFFERING MEMORANDUM
1
D E TA I L S
Approx. $335,612
16.06 Acres
4
Traffic Count
APN 001-01-63-65B-57; 001-01-63-65B-54
Zoning
1987
Evansville IN-KY MSA
36,900 VPD
HC: Highway Commercial
Market
Year Built
Building Size 120,959 SF
Lot Size
Occupancy 75.15%
In-Place NOI (75.15%occupancy)
NOI and create value through stabilization and/or potential pad development.
improved occupancy, tenant retention and outparcel developments.
PROPERTY DESCRIPTION
Audubon Village is a multi-tenant grocery-anchored neighborhood center located at 2480 US Highway 41 North in Henderson, KY, just south of the Ohio River and Evansville, IN. The Property was constructed in 1987 and is the largest shopping center along this commercial corridor. The Property rests on two parcels over 16.06-acres and features 120,959 SF that is currently 75.15% leased. The Property is configured for 19 suites and is leased to Ruler Foods (Kroger), Columbia Sportswear, DaVita Dialysis, Finders Keepers, Personal Finance Company (Mariner Finance), Henderson Nails (two suites), Express Check Advance, and Fantastic Sams. Forty-seven percent of the leased space has NNN leases. The vacant suites range in size from 1,100 - 12,750 SF. The Property offers investors the ability to create value by adding another junior anchor, a restaurant, internet-proof service tenants or pad development.
LOCATION
Audubon Village lies within the Evansville/Henderson MSA and benefits from Interstate 69 (I-69) traffic passing through Henderson via US Highway 41. The road has approximately 36,900 vehicles per day. The City of Henderson is the largest city and the county seat. The nearest significant commercial corridors are in Owensboro, KY (30 miles east) and Evansville, IN (9 miles north). The Evansville Regional Airport is 14 miles north, and offers frequent daily flights to five major top-rated hub cities (Atlanta, Dallas, Detroit, Charlotte and Chicago). The airport is served by Allegiant, American, Delta and United, and is currently undergoing a multi-phase $18.9 million interior and exterior renovation.
The Henderson commercial corridor has seen an increase in new development recently including a free-standing Fast Pace Urgent Care adjacent to the Property to the south and two fully-leased strip centers just north of the Property. Additionally, in 2017 the Burger King located on a pad site at the southern entrance to the Property was demolished and rebuilt.
Within a 5-mile radius of the Property, there are approximately 13,123 households and a totalpopulation of 30,879 residents.
ACCESSIBILITY
Audubon Village is located along the southeast side of US Highway 41 in Henderson, KY. The Property is part of a commercial corridor that connects Indiana with western Kentucky via I-69 (US Highway 41). Access to the Property is via a signalized intersection and a non-signalized intersection, thereby creating above-average access for North and South vehicular traffic. The Property provides ample parking for tenants and customers with its 629 parking spaces.
PROPERTY DESCRIPTION
PROPERTY INFORMATION
OFFERING MEMORANDUM
1
5
Website: https://www.kroger.com/
Number of Locations: 2,769
Industry: Grocer
Website: https://www.columbia.com/
Number of Locations: 129
Industry: Apparel
The Columbia Sportswear Company is an American company that manufactures and distributes outerwear, sportswear, and footwear for men, women and children. Columbia Sportswear also produces and sells headgear, camping equipment, ski apparel, and outerwear accessories. The company was founded in 1938 by Paul Lamform and is headquartered in Cedar Mill, Oregon. With 129 locations nationwide, Columbia Sportswear has over 5,300 employees. Additionally, Columbia-brand products are carried in a variety of other retailers.
In 2004, Columbia built a $40MM, 500,000 SF Distribution Center in Henderson County, approximately 20 miles south of Audubon Village, to serve the US East Coast and Midwest apparel markets. The Columbia Sportswear- Employee Store provides an opportunity for employees and their friends/families to purchase discounted merchandise. Columbia also uses an invitation-only shopping code for employees and members of local businesses, community and industry groups to access the store and purchase Columbia-brand merchandise at employee-discounted prices.
Ruler Foods is a subsidiary of Kroger and operates numerous locations under the Ruler Foods brand in Illinois, Indiana, Ohio, Kentucky, Missouri and Tennessee. Ruler Foods was part of JayC Food Stores, which was purchased by Kroger in 1999. Kroger was founded in 1835 and is headquartered in Cincinnati, Ohio. It is the United States's largest supermarket chain by revenue ($115.34 billion for fiscal year 2016), the second-largest general retailer (behind Walmart) and the seventeenth largest company in the United States. Kroger is also the third-largest retailer in the world and the third largest private employer in the United States. Kroger employs approximately 443,000 people and has an annual revenue of over $122 billion. Ruler Foods is a warehouse grocery chain in the United States. It is a no-frills grocery store where 80% of the offerings are Kroger Brand, the customers bag their own groceries at the checkout, and rent shopping carts for $0.25 cents.
Kroger Foods (Ruler)
Columbia Sportswear
TENANT OVERVIEW
PROPERTY INFORMATION
OFFERING MEMORANDUM
1
6
Website: https://www.davita.com/
Number of Locations: 2,747 (2017)
Industry: Health Care
DaVita Inc., a Fortune 500 company, is the parent company of DaVita Kidney Care and DaVita Medical Group. DaVita Kidney Care is a leading provider of kidney care in the United States, delivering dialysis services to patients with chronic kidney failure and end stage renal disease. As of June 30, 2018, DaVita Kidney Care operated or provided administrative services at 2,580 outpatient dialysis centers located in the United States serving approximately 201,000 patients. The company also operated 253 outpatient dialysis centers located in 10 countries outside the United States. DaVita Medical Group manages and operates medical groups and affiliated physician networks in California, Colorado, Florida, Nevada, New Mexico and Washington in its pursuit to deliver excellent-quality health care in a dignified and compassionate manner. DaVita Medical Group's teammates, employed clinicians and affiliated clinicians provide care for approximately 1.7 million patients.
DaVita Dialysis
TENANT OVERVIEW
PROPERTY INFORMATION
OFFERING MEMORANDUM
1
7
Columbia Sportswear Company Ruler Foods (Kroger)
INTERIOR PHOTOS
PROPERTY INFORMATION
OFFERING MEMORANDUM
1
8
PROPERTY HIGHLIGHTS
Audubon Village offers an investor the opportunity to capitalize on the Property's positive leasing, pad site activity and strong current cash flow while implementing a strategy to improve occupancy and NOI.
The Property offers tenants in the Henderson market a unique opportunity to occupy a grocery-anchored shopping center at a signalized intersection on US Highway 41. The vacant suites are lease ready, demolished and ready for build-out or are only in need of minor re-tenanting items such as carpet/paint. This value-add opportunity offers investors a center with parking, credit tenants and current income from long-term leases. The potential to identify a pad site may create additional national or regional credit and immediate long-term income.
The area has experienced extensive development recently including a Fast Pace Urgent Care and a Wings Etc. on adjacent pads and two newly constructed fully-leased strip centers nearby.
An established commercial corridor with national retailers including Starbucks, Burger King, McDonald's, Dollar General, Walmart, Lowes Home Improvement, Golden Coral, Wendy's, Arby's, and more.
US Highway 41 (US 41) is a major north-south highway running from Miami, FL to northern Michigan. Through Henderson, KY, the highway experiences approximately 36,000 vehicles per day.
ECONOMIC HIGHLIGHTS
Within a five-mile radius of Audubon Village are approximately 13,123 households and 30,879 residents. The Evansville, IN-KY Metro Area experienced positive growth (2015-2016) and reflects a population of 315,948, a median household income of $50,155 (3.07% increase) and approximately 156,515 employees. The area's largest industries are manufacturing, health and social assistance, and retail.
PROPERTY TIMELINE
April 2016 - DaVita executed a ten-year lease for 7,497 SF
June 2016 - Express Check Advance executed a three-year lease extension for 1,680 SF
October 2016 - Sale of a 0.5-acre out parcel at the Property;the purchaser constructed a free-standing building nowleased to Fast Pace Urgent Care
March 2017 - Wings Etc., a full-service restaurant, constructed on parcel adjacent to the Property and opened for business in October 2017
June 2017 - Henderson Nails entered into an extension of alicense agreement for 1,440 SF
February 2018 - Personal Finance Company exercised a one-year lease extension for 1,554 SF
April 2018 - Fantastic Sams executed a five -year lease extension for 1,100 SF; the tenant was relocated from its prior premises, thereby freeing up three contiguous suites with 12,750 SF of available space
Under Negotiation - Finders Keepers has entered into a five-year lease for 30,892 SF; Personal Finance Company has agreed to a seven-year lease extension subject to execution of lease documentation.
AREA HIGHLIGHTS
DEMOGRAPHICS
FINANCIAL ANALYSIS2
Pro Forma Presentation
Rent Roll & Market Leasing Assumptions
Historical Financials
Comparables
Audubon Village
2480 U.S. Highway 41 North
Henderson, KY
-Year 1 NOI is considered "In Place" NOI based on current tenants and expense estimates -Assumed new lease-up of vacancies every four months beginning in Year 2-Assumed market rents of $14.00 NNN for small space and $8.00 NNN for larger inline space
-Year 1 NOI does not reflect rent abatements for Finders Keepers. Tenant rent is on a sliding scale during Year 1 as shown below. Pro forma assumes full $7,750/month of income from tenant.
Months 1-4: $0.00 Months 7-9: $7,000 Months 5-6: $5,000 Months 10-12: $7,750
Other Monthly Charges 1
Annual
Square Pro Rata Share Lease Term Rent Schedule Rent CAM Property Reimbursement
Tenant Unit Feet Type Property Start End Start End Monthly Annual PSF CAM Admin Insurance Tax Total Income Notes
Anchor
Columbia Brands 010A 20,973 27.7% 17.3% 08/04/2017 08/31/2027 08/04/2017 08/31/2019 $10,923.44 $131,081.28 $6.25 $2,820.34 $423.05 $361.36 $784.44 $4,389.19 $52,670.28 Termination Option Yes; 08/31/2022
09/01/2019 08/31/2021 $11,360.38 $136,324.56 $6.50 Termination Fee Yes
09/01/2021 08/31/2023 $11,814.79 $141,777.48 $6.76 Extension Option(s) No
09/01/2023 08/31/2025 $12,287.38 $147,448.56 $7.03 MLA Anchor
09/01/2025 08/31/2027 $12,778.88 $153,346.56 $7.31
Ruler Foods (Kroger) 010B 23,841 31.5% 19.7% 02/01/2012 04/30/2029 02/01/2012 04/30/2024 $8,940.38 $107,284.56 $4.50 $2,299.33 – $891.67 $39.83 $3,230.83 $38,769.96 Termination Option No
05/01/2024 04/30/2029 $10,430.44 $125,165.28 $5.25 Extension Option(s) Yes; Two 5-Yr. Options Remaining
– – – – – MLA Anchor
Finders Keepers 010C 30,892 40.8% 25.5% 12/01/2018 03/31/2024 12/01/2018 11/30/2019 $7,750.00 $93,000.00 $3.01 – – – – – – Termination Option No
12/01/2019 11/30/2020 $8,250.00 $99,000.00 $3.20 Extension Option(s) Yes; One 5-Yr. Option
12/01/2020 11/30/2021 $8,500.00 $102,000.00 $3.30 MLA Anchor
12/01/2021 03/31/2024 $9,000.00 $108,000.00 $3.50
Occupied – Anchor 75,706 100.0% 62.6%
Available – Anchor – – –
Total – Anchor 75,706 100.0% 62.6%
Large / Small In-Line
Available 010D 6,326 14.0% 5.2% – – – – – – – – – – – – – MLA Large In-Line
Available 020 1,110 2.5% 0.9% – – – – – – – – – – – – – MLA Small In-Line
Fantastic Sam's 030 1,100 2.4% 0.9% 07/16/2018 07/31/2023 07/16/2018 07/31/2019 $1,145.83 $13,749.96 $12.50 $165.00 $22.00 $11.00 $44.00 $242.00 $2,904.00 Termination Option No
08/01/2019 07/31/2020 $1,168.75 $14,025.00 $12.75 Extension Option(s) No
08/01/2020 07/31/2021 $1,191.67 $14,300.04 $13.00 MLA Small In-Line
08/01/2021 07/31/2022 $1,214.58 $14,574.96 $13.25
08/01/2022 07/31/2023 $1,237.50 $14,850.00 $13.50
Henderson Nails 040 1,920 4.2% 1.6% 01/01/2008 05/13/2025 05/14/2018 05/13/2019 $1,600.00 $19,200.00 $10.00 – – – – – – Termination Option No
05/14/2019 05/13/2020 $1,640.00 $19,680.00 $10.25 Extension Option(s) No
05/14/2020 05/13/2021 $1,680.00 $20,160.00 $10.50 MLA Small In-Line
05/14/2021 05/13/2022 $1,720.00 $20,640.00 $10.75
05/14/2022 05/13/2023 $1,760.00 $21,120.00 $11.00
05/14/2023 05/13/2024 $1,800.00 $21,600.00 $11.25
05/14/2024 05/13/2025 $1,840.00 $22,080.00 $11.50
Henderson Nails (License) 050 1,440 3.2% 1.2% 11/01/2015 MTM 11/01/2015 MTM $400.00 $4,800.00 $3.33 – – – – – – Termination Option No
– – – – – Extension Option(s) No
– – – – – MLA Small In-Line
Available 060 1,108 2.4% 0.9% – – – – – – – – – – – – – MLA Small In-Line
Available 070 1,110 2.5% 0.9% – – – – – – – – – – – – – MLA Small In-Line
Personal Finance Company 080 1,554 3.4% 1.3% 01/01/2008 02/28/2019 01/01/2008 02/28/2019 $2,201.50 $26,418.00 $17.00 $208.97 $31.35 $23.28 $58.12 $321.72 $3,860.64 Termination Option No
– – – – – Extension Option(s) No
– – – – – MLA Small In-Line
Available 090 2,891 6.4% 2.4% – – – – – – – – – – – – – MLA Small In-Line
Total Renal Care (DaVita) 100 7,497 16.6% 6.2% 11/01/2016 10/31/2026 11/01/2016 10/31/2021 $4,373.25 $52,479.00 $7.00 $640.41 – $112.32 $280.41 $1,033.14 $12,397.68 Termination Option No
11/01/2021 10/31/2026 $4,998.00 $59,976.00 $8.00 Extension Option(s) Yes; Three 5-Yr. Options
– – – – – MLA Large In-Line
Available 110 2,513 5.6% 2.1% – – – – – – – – – – – – – MLA Small In-Line
Available 120 2,254 5.0% 1.9% – – – – – – – – – – – – – MLA Small In-Line
Express Check Advance 130 1,680 3.7% 1.4% 11/10/2015 11/30/2019 11/10/2015 11/30/2019 $1,300.00 $15,600.00 $9.29 $225.92 $33.89 $25.17 $62.84 $347.82 $4,173.84 Termination Option No
– – – – – Extension Option(s) Yes; Two 3-Yr. Options
– – – – – MLA Small In-Line
Available 160 / 170 / 180 12,750 28.2% 10.5% – – – – – – – – – – – – – MLA Large In-Line
Occupied – Large / Small In-Line 15,191 33.6% 12.6%
Available – Large / Small In-Line 30,062 66.4% 24.9%
Total – Large / Small In-Line 45,253 59.8% 37.4%
Occupied – Property 90,897 – 75.1%
Available – Property 30,062 – 24.9%
Total – Property 120,959 100.0%
1 As of September 30, 2018.
2 Reflects approximate amount; Ruler Foods reimburses CAM, Insurance, and Property Taxes quarterly based on actual expenses.
3 Owner and Personal Finance Company have agreed to terms of an extension through 02/2026; such extension is subject to the execution of final documentation.
2
3
S t a rt ing Fixed Re imbursement Renewal Mont hs Vacant Tenant Improvement s Leasing Commissions Rent Aba t ement
Marke t Leasing Assumpt ions Rent S t eps Met hod Term P robabilit y Unblended Blended New Renewal Blended New Renewal Blended New Renewal Blended
MLA
In-Line S mall $14.00 3.00% NNN 60 Mos. 70.00% 9.0 Mos. 2.7 Mos. $10.00 – $3.00 6.00% 3.00% 3.90% 2 Mos. 2 Mos. 2 Mos.
In-Line Large $8.00 3.00% NNN 84 Mos. 70.00% 9.0 Mos. 2.7 Mos. $10.00 – $3.00 6.00% 3.00% 3.90% 2 Mos. 2 Mos. 2 Mos.
Anchor S pace $4.50 3.00% NNN 120 Mos. 70.00% 12.0 Mos. 3.6 Mos. $10.00 – $3.00 6.00% 3.00% 3.90% 2 Mos. 2 Mos. 2 Mos.
RENT ROLL & MARKET LEASING ASSUMPTIONS
13
1Eastgate Center1600-1648 2nd StreetHenderson, KY 42420
$2,200,000 94,531 SF 11.14 AC $23.27 97% 2/2018
2Town Center400-632 East Diamond AvenueEvansville, IN 47710
$8,530,000 143,054 SF 18.00 AC $59.63 94% 8/2017
3Germantown Center3605 North Newton StreetJasper, IN 47546
$8,886,866 205,817 SF 8.32 AC $43.18 100% 4/2017
4Lafeyette Shoppes3852-3890 Lafayette RoadIndianapolis , IN 46254
$3,500,000 86,860 SF 1.08 AC $40.29 100% 10/2017
5Town Fair Center1100-1320 James AvenueBedford, IN 47421
$6,300,000 132,165 SF 20.57 AC $47.67 98.8% 1/2016
SALE COMPARABLES
OFFERING MEMORANDUM
3
RETAIL SALE COMPS PRICE BLDG SF LOT SIZE PRICE/SF OCCUPANCY DATE OF SALE
6Preston Place3402-3430 Preston HighwayLouisville, KY 40213
$10,550,000 135,994 SF 5.32 AC $77.58 100% 3/2018
7Southtowne Shopping Center80-264 Southtowne Shopping CenterDu Quoin, IL 62832
$2,750,000 92,603 SF 15.00 AC $29.70 72.6% 3/2018
1Urgent Care2242 US Highway 41 NorthHenderson, KY 42420
$1,287,000 3,622 SF 0.57 AC $355.33 100% 11/2016
2Wings Etc.401 Walker DriveHenderson, KY 42420
$775,000 4,641 SF 1.08 AC $166.99 100% 10/2017
32600 US Highway 412600 US Highway 41Henderson, KY 42420
$375,000 - 1.36 AC $6.33 N/A 9/2016
42480 US Highway 412480 US Highway 41Henderson, KY 42420
$400,055 - 0.57 AC $16.11 N/A 11/2016
OUT PARCEL SALE COMPS PRICE BLDG SF LOT SIZE OCCUPANCY DATE OF SALE
PRICE/SF(BLDG OR LAND,
IF VACANT)
SITE PLAN
OFFERING MEMORANDUM
3
16
This Site Plan is solely for the purpose of describing the Shopping Center and no representation, warranty, or covenant is to be implied by any information shown on this Site Plan. The sizes reflected are not to scale and the configuration and occupancy of the Shopping Center are subject to change.
PROPERTY AERIAL
OFFERING MEMORANDUM
3
17
This graphic is solely for the purpose of describing the Shopping Center and no representation, warranty, or covenant is to be implied by any information shown on this Site Plan. The sizes reflected are not to scale and the configuration and occupancy of the Shopping Center are subject to change.
http://www.frontl inerepar tners.com/proper ty- l ist ings?proper tyId=386871-sale
120,959 SF | 75.15% Occupancy | $335,612 NOIMajor Tenants: Ruler Foods (Kroger) , Columbia Spor tswear, DaVita Dialysis
AUDUBON VILLAGE SHOPPING CENTER
President, NAI IsaacO: 859-422-4400C: 859-221-4000E: [email protected]
AL ISAAC
Assistant Vice President, NAI IsaacO: 859-422-4405C: 859-489-8900E: [email protected]
JOHN P. MILLER
Vice PresidentO: 224.628.4005C: 224.628.4005E: [email protected]
ANDREW RUBIN
AssociateO: 847.275.6106C: 847.275.6106E: [email protected]
ZACK PEARLSTEIN
Vice PresidentO: 847.780.8063C: 847.542.9058E: [email protected]
MATTHEW TARSHIS
PrincipalO: 847.780.8060C: 847.212.5842E: [email protected]
JOSH JOSEPH