Caliber collision | Continued Operating Business. Please do not

SUBJECT PROPERTY
EXCLUSIVE OFFERING | $1,700,000 – 6.62% CAP | Land & Building Only – Business Is Not part of Sale
Caliber collision | Continued Operating Business. Please do not Disturb employees or management
801 W. Curtis DRIVE Midwest City, OK (OKLAHOMA City)
EXP DALLAS
214.522.7200
JOE CAPUTO
[email protected]
BOB MOORHEAD
[email protected]
property. 11,779+ SF of total building area (2 buildings ) on 1.26+ acre site.
tenant. Caliber Collision: Founded in 1997, 3,100 employees, headquarters in Lewisville, TX. Company has 129 locations in 5 States - California, Texas,
Arizona, Oklahoma, and Colorado and serves 200,000+ Customers annually. Largest non-franchised collision repair operator in the U.S. and the only recipient of
the 2013 USAA Supplier Excellence Award.
lease structure. Brand new, 15-year absolute NNN lease with 2, 5-year options. 10% rent bumps every 5-years during primary term and option periods.
location. Caliber Collision is located along W. Curtis Drive just off of Interstate 40 (65,570 Cars / Day) near the intersection of Air Depot Boulevard (24,387 Cars /
Day) and 29th Street (24,279 Cars / Day). The subject property is across Interstate 40 from a Sam’s Club and next to the newly constructed Town Center Plaza
(678,814 SF). This development is anchored by Lowe’s, JCPenney, Target, and Kohl’s. Other big box retailers include Best Buy, Hibbett Sports, and Petsmart.
Numerous car dealerships which include Ford, GMC, Toyota, and Scion are located across Interstate 40 from the site. Site is also close to Tinker Air Force Base,
the largest single-site employer in Oklahoma. Midwest City, OK had a 4.7% unemployment rate as of April 2013. Oklahoma City MSA population: 1,322,429.
Table of contents | Disclaimer
Caliber collision
801 W. Curtis DRIVE Midwest City, OK (OKLAHOMA City)
PAGE 1:
COVER
PAGE 2:
TABLE OF CONTENTS | DISCLAIMER
PAGE 3:
INVESTMENT | TENANT | LEASE OVERVIEW
PAGE 4:
SITE PLAN
PAGE 5-6:
PROPERTY PHOTOS
PAGE 7-9:
AERIAL PHOTO
PAGE 10:
LOCATION OVERVIEW
PAGE 11-12:
LOCATION MAPS
PAGE 13:
DEMOGRAPHICS
Disclaimer
EXP Realty Advisors, Inc. (“Agent”) has been engaged as an agent for the sale of the
property located at 801 W. Curtis Drive Midwest City, OK by the owner of the Property
(“Seller”). The Property is being offered for sale in an “as-is, where-is” condition and Seller
and Agent make no representations or warranties as to the accuracy of the information
contained in this Offering Memorandum. The enclosed materials include highly confidential
information and are being furnished solely for the purpose of review by prospective
purchasers of the interest described herein. The enclosed materials are being provided
solely to facilitate the prospective investor’s own due diligence for which it shall be fully and
solely responsible. The material contained herein is based on information and sources
deemed to be reliable, but no representation or warranty, express or implied, is being made
by Agent or Seller or any of their respective representatives, affiliates, officers, employees,
shareholders, partners and directors, as to the accuracy or completeness of the information
contained herein. Summaries contained herein of any legal or other documents are not
intended to be comprehensive statements of the terms of such documents, but rather only
outlines of some of the principal provisions contained therein. Neither the Agent nor the
Seller shall have any liability whatsoever for the accuracy or completeness of the
information contained herein or any other written or oral communication or information
transmitted or made available or any action taken or decision made by the recipient with
respect to the Property. Interested parties are to make their own investigations, projections
and conclusions without reliance upon the material contained herein. Seller reserves the
right, at its sole and absolute discretion, to withdraw the Property from being marketed for
sale at any time and for any reason. Seller and Agent each expressly reserves the right, at
their sole and absolute discretion, to reject any and all expressions of interest or offers
regarding the Property and/or to terminate discussions with any entity at any time, with or
without notice. This offering is made subject to omissions, correction of errors, change of
price or other terms, prior sale or withdrawal from the market without notice. Agent is not
authorized to make any representations or agreements on behalf of Seller. Seller shall
have no legal commitment or obligation to any interested party reviewing the enclosed
materials, performing additional investigation and/or making an offer to purchase the
Property unless and until a binding written agreement for the purchase of the Property has
been fully executed, delivered, and approved by Seller and any conditions to Seller’s
obligations hereunder have been satisfied or waived. By taking possession of and
reviewing the information contained herein, the recipient agrees that (a) the enclosed
materials and their contents are of a highly confidential nature and will be held and treated
in the strictest confidence and shall be returned to Agent or Seller promptly upon request;
and (b) the recipient shall not contact employees or tenants of the Property directly or
indirectly regarding any aspect of the enclosed materials or the Property without the prior
written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be
copied or otherwise reproduced without the prior written authorization of Seller and Agent.
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Investment overview
Caliber collision
801 W. Curtis DRIVE Midwest City, OK (OKLAHOMA City)
PRICE:
$1,700,000
CAP RATE:
6.62%
NET OPERATING INCOME:
Lease overview
Initial Lease Term:
15-Years, Plus 2, 5-Year Options to Renew
Rent Commencement:
July 2013
$112,557
Lease Expiration:
July 2028
TOTAL BUILDING AREA:
11,779+ Square Feet
Lease Type:
Absolute NNN
LAND AREA:
1.26+ Acres
Rent Increases:
10% in Lease Year 6 & Escalating Every 5-Yrs.
YEAR RENOVATED:
2013
Year 1-5 Annual Rent (Current):
$112,557
Year 6-10 Annual Rent:
$123,812
OWNERSHIP:
Fee Simple Interest
Year 11-15 Annual Rent:
$136,193
OCCUPANCY:
100%
Year 16-20 Annual Rent (Option 1):
$149,813
Year 21-25 Annual Rent (Option 2):
$164,794
Right of First Offer: One Time Right of First Offer
Tenant overview
CH HOLD CORP. dba Caliber Collision
CALIBER COLLISION | www.calibercollision.com
Founded in 1997, Caliber Collision provides auto body repairs to customers in Texas, California, Arizona, Oklahoma, and Colorado at 129 locations, with
over 3,100 employees. They are the largest non-franchised collision repair center operator in the nation and consistently rank as having one of the
highest customer satisfaction scores in the industry. In 2011, Caliber Collision moved its company headquarters from Irvine, California to Lewisville,
Texas (Dallas/Fort Worth). The company provides state-of-the-art technology, a 24/7 Customer Service Center, frequent status updates on your car, fair
and accurate estimates and the promise of an on-time delivery are some of the differences that make Caliber the most direct route to your car’s complete
recovery. Every year, over 200,000 people across the nation entrust their vehicles to Caliber for unparalleled collision repair. Caliber Collision has
SUBJECT PROPERTY
undergone rapid recent growth through aggressively acquiring various local auto body repair shops. Caliber Collision has developed strategic
PRIOR TO PANDA EXPRESS EXPANSION
partnerships with 57 car dealerships throughout the U.S. in addition to 34 insurance carriers which include AAA, GEICO, Farmers, Liberty Mutual,
Allstate, and USAA. Caliber Collision Centers was the only company to receive the 2013 Supplier Excellence Award from USAA. According to the
company, this award recognizes a supplier that serves as a role model and goes above and beyond in delivery and performance for USAA and its
members.
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Site plan
Caliber collision
801 W. Curtis DRIVE Midwest City, OK (OKLAHOMA City)
Office
Shop
4
PROPERTY PHOTOS
Caliber collision
801 W. Curtis DRIVE Midwest City, OK (OKLAHOMA City)
5
PROPERTY PHOTOS
Caliber collision
801 W. Curtis DRIVE Midwest City, OK (OKLAHOMA City)
6
Aerial photo
Caliber collision
Air Depot Boulevard (24,387 Cars / Day)
801 W. Curtis DRIVE Midwest City, OK (OKLAHOMA City)
Midwest City
High School
29th Street (24,279 Cars / Day)
Interstate 40 (65,570 Cars / Day)
Tinker Golf Course
Tinker Air Force Base
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Aerial photo
Caliber collision
801 w. Curtis DRIVE Midwest City, OK (OKLAHOMA City)
Tinker Golf Course
Air Depot Boulevard (24,387 Cars / Day)
Tinker Air Force Base
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Aerial photo
Caliber collision
801 w. Curtis DRIVE Midwest City, OK (OKLAHOMA City)
Midwest City
High School
Tinker Air Force Base
Tinker Golf Course
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Location overview
Caliber collision
801 w. Curtis DRIVE Midwest City, OK (OKLAHOMA City)
IMMEDIATE TRADE AREA
OKLAHOMA CITY MSA
Caliber Collision is located along W. Curtis Drive just off of Interstate 40
(65,570 Cars / Day) near the intersection of Air Depot Boulevard (24,387 Cars /
Day) and 29th Street (24,279 Cars / Day). Interstate 40 serves as the main
east-west thoroughfare for the Oklahoma City MSA and traverses almost the
entire width of the United States.
The Oklahoma City Metropolitan Statistical Area (MSA) is a large urban region
located in the central part of the State of Oklahoma and currently has a
population of 1,322,429. It is often known as Oklahoma City Metro and
contains the state capital and principal city, Oklahoma City which has a
population of 591,967. Seven counties make up the Oklahoma City Metro
Area: Canadian, Cleveland, Grady, Lincoln, Logan, McClain, and Oklahoma.
This visibility and accessibility has transformed the area into a thriving retail
corridor. The subject property is across Interstate 40 from a Sam’s Club and
next to the recently constructed Town Center Plaza (678,814 SF). This
redevelopment project encompasses approximately 90-acres and originally
contained longstanding residential and commercial structures which were
cleared to make room for the new retail based Town Center Plaza. Town
Center Plaza has developed into a retail complex serving the Midwest City
region that consists of retail shops anchored by large-scale traditional retailers
with restaurants, shops and smaller retail out parcels. This complex is
anchored by Lowe’s, JCPenney, Target, and Kohl’s. Other big box retailers
include Best Buy, Hibbett Sports, and Petsmart. Additional retailers in Town
Center Plaza include Panera Bread, Starbucks, Chick-fil-A, Cheddar’s, Chili’s,
AT&T, and Logan’s Roadhouse. Numerous car dealerships which include
Ford, GMC, Toyota, and Scion are located across Interstate 40 from the site.
Caliber Collision is also near Tinker Air Force Base and the Oklahoma Air
Logistics Complex. This installation employs over 9,400 military and civilian
personnel with 98 different job skills. The complex utilizes 63 buildings and
8.2M square feet of industrial floor space in support of its mission. Midwest City
High School (1,613 Students) is also near the subject property.
MIDWEST CITY, OK
Midwest City is located in central Oklahoma and is a suburb of Oklahoma City.
The city has a population of 54,371 making it the 8th largest city in the state.
Midwest City was developed in response to talk of an air field being located
nearby and named for the Tinker Air Force Base's original designation as the
Midwest Air Depot. The city has always had strong ties to Tinker Air Force
Base, the largest single-site employer in Oklahoma. Other large employers
include the Midwest Regional Medical Center and aerospace industry
businesses affiliated with the base. Midwest City had a 4.7% unemployment
rate as of April 2013.
The diversified economy of Oklahoma City includes information technology,
general services, health services, and administration sectors in addition to the
energy and government sector mainstays. The city has two Fortune 500
companies: Devon Energy Corporation and Chesapeake Energy Corporation,
several others that are in the Fortune 1000 and a number of large privately
owned companies. Oklahoma City is home to the corporate headquarters of
Sonic Drive-In, whose office building and corporate restaurant is located in
Bricktown, an intown neighborhood that has undergone a renaissance in the
last decade. Devon Energy began construction in 2009 on a new 844-foot tall,
1,800,000 SF headquarters building in downtown Oklahoma City. The new
skyscraper was completed in March 2012. Continental Resources moved
more than 250 employees from Enid to its new headquarters in downtown
Oklahoma City in 2012. Other large employers in Oklahoma City Metro include
McKesson Corp., Tinker Air Force Base, the University of Oklahoma, the
University of Central Oklahoma, American Fidelity, AT&T, AAA, Bank of
America, Bank of Oklahoma, The Boeing Company, Braum's, Dell, The
Farmer's Insurance, The Hartford, JP Morgan Chase, Mercy Heath System,
Sprint/Nextel, St. Anthony Health System, Williams-Sonoma, Xerox, United
Parcel Service, Cox, and the State of Oklahoma. The University of Oklahoma
in Norman which is home to 30,303 students and an academic staff of 2,937
provides additional diversification to the regional economy.
According to the Oklahoma City Chamber of Commerce, the metropolitan
area's economic output grew by 33 percent between 2001 and 2005 due chiefly
to economic diversification. Its gross metropolitan product was $43.1 billion in
2005 and grew to $61.1 billion in 2009. In 2008, Forbes magazine named
Oklahoma City the most "recession proof city in America". The magazine
reported that the city had falling unemployment, one of the strongest housing
markets in the country, and solid growth in the energy, agricultural, and
manufacturing sectors.
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Location map
Caliber collision
801 w. Curtis DRIVE Midwest City, OK (OKLAHOMA City)
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Location map
Caliber collision
801 w. Curtis DRIVE Midwest City, OK (OKLAHOMA City)
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Demographics
Caliber collision
801 w. Curtis DRIVE Midwest City, OK (OKLAHOMA City)
Demographic snapshot
Radius
1 Mile
3 Mile
5 Mile
2017 Projection
6,399
69,395
123,679
2012 Estimate
6,204
66,683
118,491
2010 Census
6,192
66,306
117,570
Growth 2012-2017
3.10%
4.10%
4.40%
Growth 2010-2012
0.20%
0.60%
0.80%
2017 Projection
2,424
28,032
48,697
2012 Estimate
2,360
27,031
46,839
2010 Census
2,347
26,753
46,273
Growth 2012-2017
2.70%
3.70%
4.00%
Growth 2010-2012
0.50%
1.00%
1.20%
Owner Occupied
1,030
15,522
28,015
Population:
Households:
Renter Occupied
1,330
11,509
18,824
2012 Avg Household Income
$34,274
$47,429
$47,761
2012 Med Household Income
$29,082
$36,617
$36,540
2012 Per Capita Income
$16,497
$19,844
$19,450
Income Less than $15,000
564
3,683
7,431
Income $15,000 - $24,999
369
4,418
7,369
Income $25,000 - $34,999
492
4,613
7,425
Income $35,000 - $49,999
492
5,233
8,311
Income $50,000 - $74,999
317
5,102
8,826
Income $75,000 - $99,999
76
1,900
3,661
Income $100,000 - $149,999
43
1,469
2,715
Income $150,000 - $199,999
2
382
676
Income $200,000+
5
231
425
Downtown Oklahoma City, OK
2012 Households by Household Inc:
Tinker AFB, Midwest City, OK
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