sumter crossing

mid box center with in-place, assumable debt[ www.CapitalPacific.com ]

1265 Broad Street, Sumter, SC

• Trophy real estate - 100% occupied• 7.64% Cap Rate, 8.62% Cash on Cash• Sandwiched between Lowe’s & super Walmart

Click for Map

RentaBle SF . . . . . . . . . . . . . . . 43,857 SF

PRiCe PeR SF . . . . . . . . . . . . . . . $225.73

lot Size . . . . . . . . . . . . . . . . . . 3.52 Acres

PRICE: $9,900,000CAP: 7.64%

Listing TeamContact Info

In Conjunction with SC Licensed Broker:Stuart Mullen, Commercial Real Estate Carolina, LLC stuart@rangeds.com | (704) 661-9800

PROperty Summary

Capital Pacific collaborates. Click here to meet the rest of our San Francisco team.

FULLY LEASED, RARE MID-BOX ANCHORED CENTER SANDWICHED BETWEEN SUPER WALMART AND LOWE’S HOME IMPROVEMENT.

joe caccamojcaccamo@capitalpacific.com | (415) 274-7394CA BRE# 01191110

Chris Kostanecki ck@capitalpacific.com | (415) 274-2701 CA BRE# 01002010

chris peterscpeters@capitalpacific.com | (415) 274-2703 CA BRE# 01339983

Sumter is home to Shaw Air Force Base and Continental Tire Factory

Zeb ripplezripple@capitalpacific.com | (415) 274-2702CA BRE# 01242540

SuMtER CRoSSIng | 2

core characteristics

strong tenant mix, outstanding real estate:

best in class location in dynamic market:

Constructed in 2010, Sumter Crossing is a 43,857 square foot Petco-Michaels anchored center in a city that provides the only significant shopping/dining outlets between Columbia and the famed Carolina beaches.

• Rare nationally-branded junior-anchor center: six of seven tenants are nationally recognized brands

• Features new awnings, refreshed landscaping, and re-striped parking lot

• Petco, Michaels, gameStop and Verizon are all corporate leases

• two pad buildings offer long-term flexibility: Verizon Wireless on free-standing pad is one of the most attractive pieces of real estate in the market

• tremendous visibility and “curb appeal’ on main commercial arterial in Sumter

• Average daily traffic counts at intersection exceed 35,000 VPD

• Flanked by Super Walmart and Lowe’s Home Improvement

• Adjacent to Dollar tree/tJ Maxx center that also features Waffle House and Arby’s, as well as Starbucks/Aspen Dental

• other nearby notable retailers: Staples, Big Lots, Big K, Chick-fil-A, Applebee’s, IHoP, Chilli’s, golden Corral, and several auto dealerships

• Significant new housing starts in recent years: 43 subdivisions have been approved since 2000 with a total of 5,543 lots; 2,892 lots have been built on

• Continental tire of the Americas has broken ground on the expansion of its Sumter facility, which will increase tire production capacity from approximately four million units planned for 2016 to approximately eight million units, and will more than double the current 700 jobs within the facility. Altogether, Continental will invest more than $500 million into the Sumter plant and create about 1,600 new jobs (see page 10)

• Sumter is also home to other major manufacturing employers that include Pilgrim’s Pride, Sykes, Inc, BD Preanalytical Solutions, Eaton Electrical, Continental tire, Caterpillar, and Porter’s Fabrications

DOMINANT INTERSECTION IN SUMTER: (Broad Street/Rte 378 at Alice Drive) between Shaw Air Force Base and downtown Sumter

SHAW AIR FORCE BASE (APPROX. 8 MILES FROM SUBjECT PROPERTY):

• one of the largest bases in the united States

• Home to the Air Force’s largest combat F-16 wing -- the 20th Fighter Wing -- whose mission is to provide immediate combat-ready airpower and combat-ready Airmen.

• Headquarters ninth Air Force, u.S. Air Forces Central, third Army, u.S. Army Central and many other tenant units.

• Shaw is home to over 5,000 active duty airmen, 11,000 family members, and 600 civilians

rare nationally-branded junior-anchor center

6 of 7 tenants are nationally recognized brands

additional investment considerations:

SuMtER CRoSSIng | 3

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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. Buyer must verify the information and bears all risk for any inaccuracies.

income & expense

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Price: $9,900,000 original Loan Amount $6,600,000

Capitalization Rate: 7.64% Interest Rate 5.547%

Price Per Square Foot: $225.73 origination Date 9/1/2013Down Payment 36% $3,529,852 Maturity Date 8/31/2023Loan Amount (as of 2/1/16) 64% $6,370,148 Amortization 30total Leased (SF): 100.00% 43,857 term 10

total Vacant (SF): 0.00% 0 net operating Income $756,146 total Rentable Area (SF): 100.00% 43,857 Debt Service ($452,027)

INCOME Per Square Foot Pre-tax Cash Flow $304,119

Scheduled Rent* $18.59 $815,265 Debt Coverage Ratio 1.67 tax Reimbursements $2.25 $98,546Insurance Reimbursement $0.35 $15,548 Pre-tax Leveraged Cash-on-cash Return 8.62%CAM Reimbursements (Includes Admin Fees) $0.80 $35,270 Principal Pay down (Year 1 of ownership) $100,757

GROSS INCOME $964,629 total Return $404,876

Vacancy Factor (3% on shop rent + CAM) ($6,034) Yield 11.47%

Effective Gross Income $958,595

EXPENSEtaxes (2016 Projection) ($2.78) ($121,980)Insurance ($0.34) ($14,962)CAM ($0.74) ($32,363)Structural Reserve ($0.10) ($4,386)Management Fee (3% of EgI) ($0.66) ($28,758)

TOTAL OPERATING EXPENSES ($4.62) ($202,449)

NET OPERATING INCOME $756,146

SuMtER CRoSSIng | 5

rent roll

TENANT INFO LEASE TERMS RENT SUMMARY

Tenant Sq. Ft. Percent of GLA Term Monthly Rent Annual Rent Rent/FT

Petco 15,000 34.20% 06/01/12 05/31/22 $20,625 $247,500 $16.50

option 1 06/01/22 05/31/27 $21,875 $262,500 $17.50

option 2 06/01/27 05/31/32 $24,125 $289,500 $19.30

option 3 06/01/32 05/31/37 $26,600 $319,200 $21.28

Michael’s 16,851 38.42% 07/30/10 09/30/20 $16,149 $193,787 $11.50

option 1 10/01/20 09/30/25 $17,413 $208,952 $12.40

option 2 10/01/25 09/30/30 $18,677 $224,118 $13.30

option 3 10/01/30 09/30/35 $19,940 $239,284 $14.20

option 4 10/01/35 09/30/40 $21,204 $254,450 $15.10

Five guys 2,800 6.38% 08/04/09 08/31/19 $7,110 $85,316 $30.47

option 1 09/01/19 08/31/24 $8,178 $98,140 $35.05

option 2 09/01/24 08/31/29 $9,403 $112,840 $40.30

nail Spa 1,200 2.74% 02/21/10 02/28/17 $2,508 $30,096 $25.08

03/01/17 02/28/18 $2,583 $30,996 $25.83

03/01/18 02/28/19 $2,660 $31,920 $26.60

03/01/19 02/29/20 $2,740 $32,880 $27.40

game Stop 2,000 4.56% 09/23/10 09/30/20 $4,667 $56,000 $28.00

option 1 09/01/14 08/31/16 $5,167 $62,000 $31.00

Verizon 4,536 10.34% 09/27/10 09/30/20 $14,553 $174,636 $38.50

option 1 10/01/20 09/30/25 $16,008 $192,100 $42.35

option 2 10/01/25 09/30/30 $17,607 $211,287 $46.58

Sweet Frog 1,470 3.35% 04/01/14 03/31/19 $2,328 $27,930 $19.00

option 1 04/01/19 03/31/24 Fair Market Value

Occupied 43,857 100.00% $67,939 $815,265 $18.59

Vacant 0 0.00%

Total 43,857 100.00%

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. Buyer must verify the information and bears all risk for any inaccuracies.

SuMtER CRoSSIng | 6

28,300 daily

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This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies. SuMtER CRoSSIng | 7

Petco Animal Supplies is a privately held retailer, with corporate offices in San Diego and San Antonio, that sells pets as well as pet products and services. the company operates more than 1,300 locations across the united States, Mexico, and Puerto Rico, including more than 100 unleashed by Petco locations (a smaller format neighborhood brand launched in 2009), nine Pooch Hotel locations for pet daycare, boarding, and spa services. “think Adoption First” is a company philosophy and program, which encourages pet adoption rather than the purchase of companion animals whenever possible.

Michaels (nASDAQ: MIK) is an arts and crafts retail chain that operates more than 1,260 stores in 49 states and Canada. the average Michaels store contains over 40,000 different products in 18,200 square feet of selling space. the stores sell a selection of arts, crafts, framing, floral, wall décor, bakeware, beads, scrapbooking, and seasonal merchandise for hobbyists and do-it-yourself home decorators. For fiscal 2014 net sales was $4.47 billion.

gameStop (nYSE: gME) is the world’s largest video game retailer. With over 6,100 stores located throughout the united States and 17 countries, they are the retail destination for gamers around the world. Among video games, gameStop also sells consumer electronics and wireless services. Everything gameStop offers, from an expansive selection of new products to knowledgeable associates and value-added pre-owned products, is geared toward delivering customer satisfaction. For fiscal 2014, gross revenue was $9.30 billion.

tyPePRivate

loCationS 1,300+

tenants

naSdaQmik

loCationS 1,260+

net SaleS (2014)$4.47 Billion

nySegme

loCationS 1,260+

gRoSS Revenue (2014)$9.30 Billion

SuMtER CRoSSIng | 8

Five guys is a private, fast casual restaurant chain focused on hamburgers, hot dogs, and French fries. Five guys has been a Washington, DC area favorite since 1986 and, over 20 years later, has over 1,000 locations nationwide and over 1,500 units in developments. Early in 2003, Five guys began offering franchise opportunities. In just under 18 months, Five guys Enterprises sold options for over 300 units. the overwhelming success of franchising a local restaurant made national news with articles in trade publications such as nation’s Restaurant news, Restaurant Business Magazine, and the Franchise times.

Verizon Communications Inc, (nYSE, nASDAQ: VZ) headquartered in new York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government, and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, serving more than 109.5 million customers nationwide. globally, they offer voice and data services in more than 200 countries. Verizon Wireless employs 178,500 people and has 1,700+ company operated retail locations in the uS. In 2014, Verizon Wireless reported total revenue of $127 billion. Verizon ranks #22 on the Forbes list of the World’s Most Valuable Brands and #26 on the list of the World’s Biggest Public Companies.

SweetFrog is a chain of frozen yogurt retail stores owned and operated by Sweet Frog Enterprises, LLC. SweetFrog customers create their own soft-serve frozen yogurt with numerous flavors and toppings from which to choose. the SweetFrog stores’ interiors are distinctively painted pink and green and the typical store consists of seven or eight frozen yogurt machines, toppings bars ,and Sweet Frog merchandise, much of which is centered around SweetFrog’s mascots “Scoop” and “Cookie”.

tyPePRivate

loCationS 1,000+

gRoSS Revenue (2014) $127 Billion

loCationS 1,700+

tenants

net inCome (2014) $10 Billion

tyPePRivate

loCationS 300+

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well maintained,

attractive imProvements

photos

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surrounded by

national retailers

surrounding retail

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dense retail node

surrounding retail

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Key POinTS ABOuT The SuMTer PhASe ii exPAnSiOn:in the news

September 9, 2015

ContInEntAL CoRPoRAtIon-the technology company, Continental, has broken ground on the expansion of its Sumter facility, which will increase tire production capacity from approximately four million units planned for 2016 to approximately eight million units and will more than double the current 700 jobs within the facility. total employment is projected to reach 1,600. tires produced at the Sumter plant will help meet the increasing demand for Continental and general brand tires from both aftermarket business and automotive manufacturers.

the second phase of construction is expected to bring the plant’s full production capacity to approximately eight million units per year by 2021. Altogether, Continental will invest more than $500 million into the Sumter plant and create about 1,600 new jobs. With the expansion, Continental has met the total projected investment of more than $500 million announced in october 2011.

to date, CtA has hired more than 700 employees in the Sumter facility. It is expected that the plant will reach an employment level of approximately 800 by the end of 2015. Continental continues to partner with readySC and local technical colleges to assist with staffing and training interested candidates and to develop tailored apprenticeship programs for mechatronics and production positions in the facility.

ContInEntAl tIRE PlAnt In sumtER, sC bREAks gRound on PlAnt ExPAnsIon

Continental will invest more then $500 million into the Sumter plant and create about 1,600 new jobs.

Phase II will total approximately 720,000 square feet including the new production hall and expanded warehouses for raw materials and finished goods. this is in addition to one million square feet in the existing plant.

the finished goods warehouse will be expanded to nearly one and a half times its original size.

Key POinTS ABOuT The SuMTer PhASe i FACiliTy:

Construction started in June 2012.

60,000 cubic yards of concrete and 30,000 tons of steel went into the plant structure.

Machine installation began in March 2013.

Production began in october 2013.

More than $100 million was awarded to South Carolina vendors in the construction of the plant’s first phase.

[ aerial view of the continental tire plant]

click Here to read Full article

SuMtER CRoSSIng | 13

SumteR, SC oveRvieW Sumter is the county seat of Sumter County and had a 2010 population of over 40,000. the city adjoins Clarendon and Lee to form the core of Sumter-Lee-Clarendon tri-county area known as the Sumter Metropolitan Statistical Area.

Sumter is home to Morris College, a private four-year liberal arts college with over 1,200 students as well as university of South Carolina Sumter, with over 1,000 students.

Sumter is also the location of the Shaw Air Force Base, headquarters of the united States Army Central, 9th Air Force, and 20th Fighter Wing. Since World War II, the base has been a major employer in the area.

PoPulation

2015 HouseHold incomes

SuMtER

toP emPloyeRS

location & demographics

1-Mile 3-Mile 5-Mile

Average $51,915 $58,120 $54,103Median $37,724 $39,853 $39,397

1-Mile 3-Mile 5-Mile

2010 3,002 25,043 55,1382015 2,940 25,905 56,1952020 2,954 26,414 56,991

sumtercrossing

CoLuMBIA

56 MIn43 MILES

Employer # of EmployeesShaw Air Force Base 6,866Sumter School District 2,600Pilgrims Pride 2,210toumey Heathcare System 1,519

28,300 daily

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A unique huMAnreSulTS-DriVen client experience

the CaPital PaCiFiC exPeRienCe - ouR daily Commitment to ouR ClientS

[ www.CapitalPacific.com ]

[ Copyright © 2016 Capital Pacific ]

Capital Pacific collaborates. Click here to meet the rest of our San Francisco team.

RiCk SanneR

BoB SanneR

dave luCaS

zandy Smith

JaCk navaRRa

John andReini

Joe CaCCamo

gRegg Steele

kaRla zenSIn conjunction with SC Licensed Broker:Stuart Mullen, Commercial Real Estate Carolina, LLC | stuart@rangeds.com | (704) 661-9800

Joe CaCCamojcaccamo@capitalpacific.com | (415) 274-7394CA BRE# 01191110

ChRiS koStaneCki ck@capitalpacific.com | (415) 274-2701 CA BRE# 01002010

ChRiS PeteRScpeters@capitalpacific.com | (415) 274-2703 CA BRE# 01339983

zeB RiPPlezripple@capitalpacific.com | (415) 274-2702CA BRE# 01242540