Tractor Supply Company Minden, NV

offering memorandum.
Tractor Supply Company
Minden, NV
Carson Valley
Medical Center
Sierra View
Ranch
/U
.S
.
Carson Valley
Middle School
East
Cutter Ridge
Ranch
(12,0
00 A
Gardnerville
Elementary
School
ADT)
Rivertree
Ranch
Fork Carson River
Ro
ut
e
395
te Ro
ute 8
8
CARSON VALLEY FAIR
F Heise Land &
Livestock Co
Gardnerville
Ranchos
/ Sta
Downtown
Minden
Dangberg Home
Ranch
Historic Park
Carson Valley
Swim Center
Minden
Gateway
Center
Minden
Medical
Center
,000
Westwood
IRONWOOD SHOPPING CENTER
AAD
T)
Carson City
Douglas
High School
.S. Route 39
5 (23
/U
Winhaven
Lake
Tahoe
Actual Site
IRONWOOD 8 CINEMAS
$5,440,000
Call for Details
Net Lease
Located at a High-Traffic Intersection of
••Long-Term
•
•
Highway 88 and 395
Tenant with a Net Worth over $1 Billion
••National
New 2014 Construction
•
••Brand
to New Minden Gateway
••Established Ranching Area
••Anchor
Shopping Center
Combined AADT of 35,000 Vehicles
This property is listed in conjunction with Nevada-licensed real estate broker Kelly Bland
of NAI Alliance Commercial Real Estate Services.
www.maffiateam.com
Confidentiality & Disclosure
Cornish & Carey Commercial Newmark Knight Frank (“Broker”) has been retained on an exclusive basis to market the property
described herein (“Property”). Broker has been authorized by the Seller of the Property (“Seller”) to prepare and distribute the enclosed information (“Material”) for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title
and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to
purchase between the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase
based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and
such other matters as the Seller deems appropriate.
The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of
the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person without the
express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that
a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and
has not been verified by the Seller or its affiliates. The pro forma is delivered only as an accommodation and neither the Seller, Broker, nor any of their respective affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners,
shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own
investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections
contained in the pro forma.
Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to
accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed
to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.
Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information.
Michael Maffia
Senior Managing Director
415.445.5144
[email protected]
Lic #01340853
Putnam Daily
VP/Transaction Manager
415.445.5107
[email protected]
Lic #01750064
Kelly Bland
Senior Vice President
775.336.4603
[email protected]
NV Lic#0025155
901 Mariners Island Boulevard, Suite 120 • San Mateo, CA 94404 • Tel 415.373.4060 • Fax 415.373.4060 • www.maffiateam.com
Table of Contents
•Property Information........................................................................................................................1
•Tenant Information.......................................................................................................................... 2
•About the Area................................................................................................................................ 3
•Site Plan......................................................................................................................................... 4
•Ground Photos................................................................................................................................ 5
•Aerials............................................................................................................................................ 6
•Location Maps................................................................................................................................ 9
•Demographics...............................................................................................................................12
•Confidentiality Agreement..............................................................................................................17
Property Information
Location
The property is located at 1645 Hwy 88 in Minden, Nevada.
Lot Size
Approximately 2.96 acres, or 128,982 square feet.
Improvements
An approximately 19,097 square foot retail building for Tractor Supply Company completed in January 2014. There is a
15,000 square foot outdoor display area adjacent to the building. There is ample parking on site.
Lease
Leased to Tractor Supply Company on a long-term net basis with options to renew the lease.
Price
$5,440,000
Note
DUE TO THE CONFIDENTIALITY AGREEMENT WITH TRACTOR SUPPLY COMPANY, WE ARE UNABLE TO DISCLOSE THE RENT,
CAP RATE, OR LEASE INFORMATION. PLEASE EXECUTE THE ATTACHED NON-CIRCUMVENT/CONFIDENTIALITY AND NON/
DISCLOSURE AGREEMENT (PAGE 16) TO RECEIVE THE FULL OFFERING MEMORANDUM.
1
Tenant Information
Tractor Supply Company (NasdaqGS: “TSCO”) operates retail farm and ranch stores in the United States. Its stores offer
a selection of merchandise, including equine, pet, and animal products, such as items required for their health, care,
growth, and containment; hardware, truck, towing, and tool products; seasonal products, including lawn and garden
items, power equipment, gifts, and toys; maintenance products for agricultural and rural use; and work/recreational
clothing and footwear. The company operates its retail stores under the Tractor Supply Company and Dels Farm Supply
names, as well as TractorSupply.com. As of March 30, 2013, the company operated 1,197 retail farm and ranch stores
in 45 states. Tractor Supply Company serves recreational farmers and ranchers, as well as tradesmen and small businesses.
For the fiscal year ended December 29, 2012, Tractor Supply Company reported revenue of $4.664 billion with net income
of $276.457 million and net worth of $1.025 billion.
For the recent quarter ended September 28, 2013, Tractor Supply Company reported revenue of $1.208 billion with net
income of $64.767 million and net worth of $1.185 billion.
2
About the Area
Site Information
The property anchors the Minden Gateway Center located at the high traffic and visible northwest corner of Highway 88
and Highway 395 where the combined annual average daily traffic at the intersection is 35,000 vehicles. Minden Gateway Center is the newest retail development in Minden, with the site area totaling over 13 acres and an eventual 150,000
square feet of retail. The shopping center fills an overwhelming need for retail in the area. In fact, CBRE Analysis once reported local residents spent $85 million outside of the immediate trade area. Directly across the street is the largest High
School in Douglas County with 1,500 students. Major retailers in the immediate vicinity include Subway, Arco, Holiday
Inn Express, Dollar Tree, McDonald’s, Dairy Queen, Ironwood Stadium Cinema 8 and Starbucks. A block south is Perennial
Vacation Club, Minden Montessori School, Inc., and the Douglas County Public Library.
Located in the center of the town on Highway 395, the property is less than a mile from Minden’s historic downtown, just 15
minutes from South Lake Tahoe and 15 miles to Carson City. On the opposite side of town is a new Walmart and additional
major retailers such as Raley’s, Smith’s and Rite Aid.
General Overview
Minden is the county seat of Douglas County and is adjacent to the city of Gardnerville. Douglas County has nine parks
and contains half of Lake Tahoe. As of the 2010 census Douglas County had a population of 46,997. The towns of Minden,
Gardnerville, and Genoa make up the “Carson Valley”, Northern Nevada’s most scenic valley cradled by the same
mountains as Lake Tahoe.
Minden is an old established farming community that experienced substantial growth in the mid-1970s and has continued
ever since. The two towns of Minden and Gardnerville, which is just to the south, have fused together to form the most
productive of the state’s agricultural regions. This area adheres to a master land-use plan approved by Douglas County
that promotes a healthy economic future by providing the framework for development for its ranching communities. The
county’s goal is to offer the advantages of a metropolitan area, but remain rural with its strong agricultural element.
U.S. Highway 395 is Nevada’s major highway; it enters Nevada at Topaz Lake then descends to Carson Valley where it
becomes the main streets of Gardnerville, Minden and Carson City. The city is also the terminus of State Route 88, which
becomes California State Route 88 on the west side of the state line.
3
/U
SH
IG
HW
AY
39
5
Site Plan
Outdoor Sales
15,000 SF
19,097 SF
MINDEN
GATEWAY
CENTER
/ STATE ROUTE 88
4
Ground Photos
Aerial | Close-Up View
Park Cattle
Ranch
Aerial | Mid-Range View
Bentley
Ranch
Minden
Elementary
School
Winhaven
Minden
Medical
Center
/ U.S. Route 395 (23,000 AADT)
Minden
Gateway
Center
/S
Douglas
High School
tat
e
Ro
ute
8
8(
12,
00
0A
AD
T)
Brown
Plaza
Carson Valley
Swim Center
Aerial | Distant View
F Heise Land &
Livestock Co
Gardnerville
Ranchos
Carson Valley
Medical Center
Rivertree Ranch
Cutter Ridge
Ranch
Sierra View
Ranch
Gardnerville
Elementary School
0 AA
East Fo
rk Carson River
(12,0
0
.S
.R
ou
te
Dangberg Home Ranch
Historic Park
te Ro
u
395
te 88
Carson Valley
Middle School
/U
DT)
CARSON VALLEY FAIR
/ Sta
Downtown
Minden
Carson Valley
Swim Center
Minden
Gateway
Center
Minden
Medical
Center
u
.S. Ro te 395 (23
,0 0 0
/U
Winhaven
Douglas
High School
Lake
Tahoe
Westwood
AA D
T)
IRONWOOD SHOPPING CENTER
Carson City
IRONWOOD 8 CINEMAS
8
Location Map
Site
Location Map
Site
Location Map
Site
Market Profile
Demographics
1645 Hwy 88
Minden, NV 89423
1657 NV 88, Minden, NV, 89423
Ring: 5 mile radius
Population Summary
2000 Total Population
2010 Total Population
2012 Total Population
2012 Group Quarters
2017 Total Population
2012-2017 Annual Rate
Household Summary
2000 Households
2000 Average Household Size
2010 Households
2010 Average Household Size
2012 Households
2012 Average Household Size
2017 Households
2017 Average Household Size
2012-2017 Annual Rate
2010 Families
2010 Average Family Size
2012 Families
2012 Average Family Size
2017 Families
2017 Average Family Size
2012-2017 Annual Rate
Housing Unit Summary
2000 Housing Units
Owner Occupied Housing Units
Renter Occupied Housing Units
Vacant Housing Units
2010 Housing Units
Owner Occupied Housing Units
Renter Occupied Housing Units
Vacant Housing Units
2012 Housing Units
Owner Occupied Housing Units
Renter Occupied Housing Units
Vacant Housing Units
2017 Housing Units
Owner Occupied Housing Units
Renter Occupied Housing Units
Vacant Housing Units
Median Household Income
2012
2017
Median Home Value
2012
2017
Per Capita Income
2012
2017
Median Age
2010
2012
2017
Latitude: 38.95763
Longitude: -119.77922
5 miles
10 miles
15 miles
14,390
18,014
18,332
162
18,761
0.46%
45,356
50,495
50,948
296
51,099
0.06%
98,311
101,604
101,793
4,140
101,381
-0.08%
5,742
2.47
7,627
2.34
7,676
2.37
7,971
2.33
0.76%
5,057
2.81
5,043
2.85
5,276
2.80
0.91%
17,501
2.58
20,531
2.45
20,507
2.47
20,847
2.44
0.33%
13,870
2.89
13,740
2.93
14,062
2.89
0.46%
37,997
2.50
40,878
2.38
40,656
2.40
40,942
2.38
0.14%
25,856
2.90
25,494
2.92
25,889
2.89
0.31%
6,133
64.7%
28.9%
6.4%
20,935
55.3%
28.3%
16.4%
47,040
51.5%
29.3%
19.2%
8,570
57.8%
31.2%
11.0%
8,635
55.4%
33.5%
11.1%
8,959
56.0%
32.9%
11.0%
25,865
51.5%
27.8%
20.6%
25,926
49.6%
29.5%
20.9%
26,425
49.9%
29.0%
21.1%
53,779
47.2%
28.9%
24.0%
53,876
45.2%
30.2%
24.5%
54,630
45.3%
29.7%
25.1%
$53,987
$61,767
$54,210
$61,680
$51,475
$58,844
$195,141
$193,082
$201,389
$198,597
$198,520
$203,039
$29,117
$34,028
$28,631
$33,361
$28,372
$33,058
47.0
47.7
49.3
44.4
45.1
46.2
43.3
43.8
44.9
Data Note: Household population includes persons not residing in group quarters. Average Household Size is the household population divided by total households.
Persons in families include the householder and persons related to the householder by birth, marriage, or adoption. Per Capita Income represents the income received by
all persons aged 15 years and over divided by the total population.
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012 and 2017. Esri converted Census 2000 data into 2010 geography.
12
Market Profile
Demographics
1645 Hwy 88
Minden, NV 89423
1657 NV 88, Minden, NV, 89423
Ring: 15 mile radius
Latitude: 38.95763
Longitude: -119.77922
5 miles
10 miles
15 miles
Household Income Base
7,676
20,507
40,656
<$15,000
$15,000 - $24,999
7.2%
15.5%
7.6%
12.3%
9.5%
12.0%
$25,000 - $34,999
$35,000 - $49,999
9.4%
12.4%
10.2%
14.2%
10.9%
15.6%
$50,000 - $74,999
23.8%
23.5%
22.3%
$75,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
13.4%
11.8%
3.1%
12.8%
12.3%
3.4%
11.7%
10.8%
3.7%
2012 Households by Income
$200,000+
3.5%
3.8%
3.6%
$69,006
$70,790
$67,629
Household Income Base
7,971
20,847
40,942
<$15,000
$15,000 - $24,999
6.8%
11.2%
7.1%
9.3%
8.9%
9.0%
8.8%
9.8%
23.2%
18.1%
14.0%
4.2%
3.9%
$79,526
8.6%
11.6%
23.3%
16.9%
14.2%
4.6%
4.3%
$81,425
8.7%
13.3%
22.2%
16.1%
12.8%
5.1%
4.1%
$78,356
4,782
1.3%
5.9%
19.8%
25.5%
15.7%
9.0%
10.8%
5.5%
4.5%
1.4%
0.7%
$245,741
12,868
1.0%
6.2%
18.5%
23.9%
16.6%
10.3%
11.5%
5.5%
4.4%
1.3%
0.8%
$249,530
24,378
1.4%
7.4%
18.7%
23.2%
15.6%
10.3%
11.3%
5.3%
4.3%
1.2%
1.3%
$250,589
5,021
0.7%
4.3%
18.5%
30.8%
17.6%
13,180
0.6%
4.6%
17.1%
28.6%
18.3%
24,731
0.8%
5.3%
15.8%
27.1%
17.7%
$299,999
$399,999
$499,999
$749,999
9.1%
8.2%
4.7%
4.0%
10.3%
8.9%
5.1%
4.4%
10.0%
9.7%
5.9%
5.0%
$750,000 - $999,999
$1,000,000 +
Average Home Value
1.5%
0.6%
$240,627
1.5%
0.7%
$247,688
1.6%
1.3%
$259,498
Average Household Income
2017 Households by Income
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
$75,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000+
Average Household Income
2012 Owner Occupied Housing Units by Value
Total
<$50,000
$50,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000 - $249,999
$250,000 - $299,999
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999
$1,000,000 +
Average Home Value
2017 Owner Occupied Housing Units by Value
Total
<$50,000
$50,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000 - $249,999
$250,000
$300,000
$400,000
$500,000
-
13
Data Note: Income represents the preceding year, expressed in current dollars. Household income includes wage and salary earnings, interest dividends, net rents,
pensions, SSI and welfare payments, child support, and alimony.
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012 and 2017. Esri converted Census 2000 data into 2010 geography.
Market Profile
Demographics
1645 Hwy 88
Minden, NV 89423
1657 NV 88, Minden, NV, 89423
Ring: 15 mile radius
Latitude: 38.95763
Longitude: -119.77922
5 miles
10 miles
15 miles
18,013
50,497
101,606
5.2%
5.6%
5.4%
5.8%
5.2%
5.4%
6.0%
10.5%
6.1%
11.4%
5.7%
11.9%
25 - 34
9.3%
10.5%
12.0%
35 - 44
45 - 54
55 - 64
10.4%
15.1%
15.8%
11.5%
15.9%
15.7%
12.1%
16.3%
15.4%
65 - 74
12.0%
10.5%
9.3%
75 - 84
85 +
6.9%
3.0%
5.3%
1.8%
5.0%
1.8%
79.4%
78.7%
79.9%
Total
18,330
50,951
101,794
0-4
5-9
10 - 14
15 - 24
25 - 34
35 - 44
45 - 54
55 - 64
65 - 74
75 - 84
85 +
18 +
5.1%
5.6%
5.9%
10.3%
9.4%
10.1%
14.5%
16.4%
12.7%
6.8%
3.1%
79.9%
5.4%
5.7%
5.9%
11.2%
10.6%
11.1%
15.4%
16.3%
11.2%
5.3%
1.9%
79.1%
5.1%
5.3%
5.6%
11.6%
12.1%
11.7%
15.8%
16.0%
10.0%
5.0%
1.8%
80.3%
2017 Population by Age
Total
0-4
5-9
10 - 14
15 - 24
25 - 34
35 - 44
45 - 54
55 - 64
65 - 74
75 - 84
85 +
18 +
18,762
5.0%
5.4%
5.8%
9.5%
9.4%
9.6%
13.2%
16.9%
15.0%
7.0%
3.2%
80.5%
51,101
5.3%
5.6%
5.9%
10.4%
10.5%
10.7%
14.0%
16.8%
13.3%
5.5%
2.0%
79.6%
101,381
5.1%
5.2%
5.6%
10.8%
12.1%
11.3%
14.5%
16.5%
11.8%
5.2%
1.9%
80.7%
2010 Population by Sex
Males
Females
8,773
9,241
25,486
25,009
52,869
48,735
2012 Population by Sex
Males
Females
8,942
9,391
25,751
25,197
53,038
48,754
9,168
9,593
25,871
25,228
52,875
48,507
2010 Population by Age
Total
0-4
5-9
10 - 14
15 - 24
18 +
2012 Population by Age
2017 Population by Sex
Males
Females
14
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012 and 2017. Esri converted Census 2000 data into 2010 geography.
Market Profile
Demographics
1645 Hwy 88
Minden, NV 89423
1657 NV 88, Minden, NV, 89423
Ring: 15 mile radius
Latitude: 38.95763
Longitude: -119.77922
5 miles
10 miles
15 miles
18,013
50,494
101,605
90.1%
0.4%
85.4%
0.5%
84.1%
1.3%
American Indian Alone
Asian Alone
1.5%
1.4%
1.5%
2.7%
2.1%
2.6%
Pacific Islander Alone
0.2%
0.1%
0.2%
3.4%
3.0%
11.4%
6.4%
3.2%
17.0%
6.7%
3.1%
17.1%
35.2
47.5
49.2
18,335
50,947
101,792
89.3%
0.6%
84.6%
0.7%
83.4%
1.5%
1.6%
1.5%
0.2%
3.7%
3.1%
12.3%
37.4
1.6%
2.9%
0.1%
6.7%
3.3%
17.7%
49.2
2.1%
2.7%
0.2%
7.0%
3.2%
17.8%
50.7
18,762
89.2%
0.6%
1.6%
1.5%
0.2%
3.7%
3.1%
12.3%
37.5
51,099
84.1%
0.9%
1.6%
3.1%
0.1%
6.8%
3.4%
18.0%
50.1
101,381
82.2%
1.8%
2.0%
3.1%
0.2%
7.4%
3.4%
19.0%
53.1
18,014
99.1%
81.3%
28.1%
22.0%
26.0%
2.9%
2.4%
17.8%
0.9%
0.8%
0.1%
50,495
99.4%
82.1%
27.5%
21.7%
26.8%
3.6%
2.6%
17.3%
0.6%
0.4%
0.2%
101,604
95.9%
76.4%
25.5%
19.5%
25.3%
3.5%
2.6%
19.5%
4.1%
3.7%
0.3%
2010 Population by Race/Ethnicity
Total
White Alone
Black Alone
Some Other Race Alone
Two or More Races
Hispanic Origin
Diversity Index
2012 Population by Race/Ethnicity
Total
White Alone
Black Alone
American Indian Alone
Asian Alone
Pacific Islander Alone
Some Other Race Alone
Two or More Races
Hispanic Origin
Diversity Index
2017 Population by Race/Ethnicity
Total
White Alone
Black Alone
American Indian Alone
Asian Alone
Pacific Islander Alone
Some Other Race Alone
Two or More Races
Hispanic Origin
Diversity Index
2010 Population by Relationship and Household Type
Total
In Households
In Family Households
Householder
Spouse
Child
Other relative
Nonrelative
In Nonfamily Households
In Group Quarters
Institutionalized Population
Noninstitutionalized Population
15
Data Note: Persons of Hispanic Origin may be of any race. The Diversity Index measures the probability that two people from the same area will be from different
race/ethnic groups.
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012 and 2017. Esri converted Census 2000 data into 2010 geography.
Market Profile
Demographics
1645 Hwy 88
Minden, NV 89423
1657 NV 88, Minden, NV, 89423
Ring: 15 mile radius
Latitude: 38.95763
Longitude: -119.77922
5 miles
10 miles
15 miles
7,627
26.9%
73.1%
66.3%
51.8%
17.3%
14.5%
4.4%
2.9%
10.1%
20,531
24.3%
75.7%
67.6%
53.2%
19.1%
14.3%
4.9%
3.1%
9.4%
40,878
27.5%
72.5%
63.3%
48.4%
17.6%
14.9%
5.0%
3.1%
9.8%
6.6%
6.8%
6.1%
8.1%
6.3%
9.3%
27.2%
28.6%
27.5%
3.0%
6.7%
6.0%
0.7%
3.4%
7.2%
6.5%
0.7%
3.1%
7.8%
7.0%
0.7%
7,627
26.9%
40.7%
14.8%
10.5%
4.8%
1.6%
0.7%
20,531
24.3%
40.5%
15.1%
11.5%
5.4%
2.0%
1.1%
40,879
27.5%
38.9%
14.7%
10.9%
5.0%
1.9%
1.1%
7,627
64.9%
44.8%
20.2%
35.1%
20,531
64.9%
46.9%
18.0%
35.1%
40,878
62.0%
44.2%
17.8%
38.0%
2010 Households by Type
Total
Households with 1 Person
Households with 2+ People
Family Households
Husband-wife Families
With Related Children
Other Family (No Spouse Present)
Other Family with Male Householder
With Related Children
Other Family with Female Householder
With Related Children
Nonfamily Households
All Households with Children
Multigenerational Households
Unmarried Partner Households
Male-female
Same-sex
2010 Households by Size
Total
1 Person Household
2 Person Household
3 Person Household
4 Person Household
5 Person Household
6 Person Household
7 + Person Household
2010 Households by Tenure and Mortgage Status
Total
Owner Occupied
Owned with a Mortgage/Loan
Owned Free and Clear
Renter Occupied
Data Note: Households with children include any households with people under age 18, related or not. Multigenerational households are families with 3 or more parentchild relationships. Unmarried partner households are usually classified as nonfamily households unless there is another member of the household related to the
householder. Multigenerational and unmarried partner households are reported only to the tract level. Esri estimated block group data, which is used to estimate
polygons or non-standard geography.
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012 and 2017. Esri converted Census 2000 data into 2010 geography.
16
Tractor Supply Company – Minden, NV
NON-CIRCUMVENT/CONFIDENTIALITY and NON-DISCLOSURE AGREEMENT
Cornish & Carey Commercial Newmark Knight Frank (“Broker”) is presenting for sale the Subject Property (“Property”) known as
the Tractor Supply Company property located at 1657 Hwy 88, City of Minden, County of Douglas, State of Nevada, by the
Property’s owner (the “Owner”). The undersigned (“Recipients”) hereby acknowledge and agree that certain confidential
information, including but not limited to the basic Property information such as annual rent, any rental escalations, and the
asking capitalization rate, that has been or may be disclosed is intended solely for Recipients’ limited use in considering whether
to pursue negotiations to acquire the Property.
Neither the Owner of the Property nor Broker or any of their respective officers, employees or agents, make any
representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential
information and no legal liability is assumed or shall be implied with respect thereto. Information provided has
been or will be gathered from sources that are deemed reliable; however, neither Owner nor Broker warrants or
represents that the information is true or correct. Recipients are advised to verify information independently.
Owner and/or Broker reserve(s) the right to change the Property’s purchase price, or any Property or market
information provided, or to withdraw the Property from the market at any time without notice.
Recipients agree that the information provided by Broker is confidential and as such, agrees to hold and treat such information in
the strictest of confidence. In addition, Recipients agree not to disclose, directly or indirectly, or permit anyone else to disclose
this information to any person, firm or entity without prior written authorization of Owner or Broker and not use, or permit to be
used this information in any fashion or manner detrimental to the interests of Owner or Broker. Photocopying or other
duplication of such confidential information is strictly prohibited. Recipients agree not to contact the Property’s tenant(s), leasing
brokers, or property management staff in connection with Recipients’ review of the Property or confidential information. IN
ADDITION, THE CONFIDENTIAL INFORMATION SHALL NOT BE DEEMED AS REPRESENTATIVE OF THE STATE OF
AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE
BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OR PREPARATION OF THE OFFERING MEMORANDUM.
While Owner and/or Broker may discuss the purchase and sale of the Property with Recipients, either Owner or Broker, in our
sole and absolute discretion, may terminate sale discussions at any time and for any reason. Recipients acknowledge that
neither Owner nor Broker has any obligation to discuss or agree to the sale of the Property. The acquisition discussions may be
lengthy and complex. Notwithstanding that the parties may reach one or more oral understandings or agreements on one or
more issues, neither of the parties shall be bound by any oral agreement of any kind, and no rights, claims, obligations or
liabilities of any kind, either expressed or implied, shall arise or exist in favor of or be binding upon either Owner or Broker
except to the extent expressly set out in a written agreement signed by both Owner and Broker.
This letter will further confirm that Recipients understand that Broker is presenting the information on the above-referenced
Property and that Recipients agree not to circumvent Broker and contact the Owner of the Property.
Please execute below and return via facsimile to Putnam Daily at 415.373.4060 or email to
[email protected] at your earliest convenience.
Agreed and accepted, this _________ day of __________________, 2014.
PRINCIPAL
CO-BROKER
Company:
Company (if applicable):__________________________
Address:
Address:
By:
By:
Name:
Name:
Its:
Its:
Phone:
Phone:
Fax:
Fax:
Email:
__
Email:
_____________________________________