Shopko Hometown Portfolio - Upland Real Estate Group

Transcription

Shopko Hometown Portfolio
Emmetsburg, IA I Gordon, NE I Ord, NE | Chamberlain, SD I Dell Rapids, SD
Keith A. Sturm, CCIM | 612.376.4488 | [email protected]
Deborah K. Vannelli, CCIM | 612.376.4475 | [email protected]
www.nnnsales.com
Look Upland. Where Properties & People Unite!
50 South 6th Street | Suite 1418
Minneapolis, MN | 55402
CONFIDENTIALITY & DISCLAIMER
Shopko Hometown
IA, NE, NE, SD, SD
NET LEASED DISCLAIMER
Upland Real Estate Group, Inc. hereby advises all prospective purchasers of Net Leased property as follows:
The information contained in this Marketing Package has been obtained from sources we believe to be reliable. However, Upland Real Estate Group, Inc. has not and will not verify any
of this information, nor has Upland Real Estate Group, Inc. conducted any investigation regarding these matters. Upland Real Estate Group, Inc. 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 package is not a substitute for your thorough due diligence investigation of this investment opportunity. Upland Real Estate Group, Inc. 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 Package 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, legal and other 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, financial and other advisors must request and carefully review all legal, financial and
other documents related to the property and tenant. While 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.
All information, including price change and withdrawal from the market, is subject to change without notice.
By accepting this Marketing Package you agree to release to Upland Real Estate Group, Inc. 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.
CONFIDENTIALITY AND DISCLAIMER: The information contained in the following Marketing Package is proprietary and strictly confidential. It is intended to be reviewed only by the party
receiving it from Upland Real Estate Group, Inc. and should not be made available to any other person or entity without the written consent of Upland Real Estate Group, Inc. This Marketing
Package has been prepared 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. Upland Real Estate Group, Inc. 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, the financial
condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property or any other matter related to the subject property. The
information contained in this Marketing Package has been obtained from sources we believe to be reliable; however, Upland Real Estate Group, Inc. has not verified, and will not verify, any of
the information contained herein, nor has Upland Real Estate Group, Inc. 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.
KEITH A. STURM, CCIM | DEBORAH K. VANNELLI, CCIM | 612.332.6600
PAGE 2
HIGHLIGHTS
Shopko Hometown
IA, NE, NE, SD, SD
PORTFOLIO PRICE: $20,261,250
CAP: 8.00%
NOI: $1,620,900
 New construction of five Shopko Hometown stores located in the
Midwest. May be purchased individually or as a package.
 Ord, Chamberlain, and Dell Rapids stores are open and operating.
 15 year leases with rent increases every 5 years.
 Lease signed by Shopko Stores Operating Co., LLC. Shopko operates
363 stores in 24 states.
 Shopko Stores Operating Co., LLC is an affiliate of Sun Capital
Partners, Inc., a leading private investment firm.
 $3 billion retailer ranked on Forbes’ list of America’s Largest Private
Companies.
 All five locations are situated along a main corridor for the town or
city.
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 square footage or
age are approximate. Upland has not verified this information. Buyer must verify the information and bears all risk for any inaccuracies.
PAGE 3
PORTFOLIO OVERVIEW
INVESTMENT SUMMARY
PRICE
Shopko Hometown
IA, NE, NE, SD, SD
LEASE INFORMATION
$20,261,250
CAP
8.00%
NOI
$1,620,900
RENT/SF
$12.54
PRICE/SF
$156.70
TOTAL SQ FT
129,300
RENT ADJUSTMENTS
3% Every 5 Years
LEASE TYPE
NN
LEASE TERM
15 Years
RENEWAL OPTIONS
Four 5-Years
LEASE COMMENCEMENT July 10, 2016*
LEASE EXPIRATION
Nov 30, 2031
LEASE NOTES:
PROPERTY INFORMATION
ADDRESS 1:
Main St. & Adam St.,
Emmetsburg, IA 50536
ADDRESS 2:
301 South Ash Street, Gordon,
NE 69343
133 Trotter Ave. (Highway 11 &
ADDRESS 3: South 2nd Street), Ord, NE
68862
1951 East King Street,
ADDRESS 4:
Chamberlain, SD 57325
Hwy. 77 & W. 15th St., Dell
ADDRESS 5:
Rapids, SD 57022
Net, Net. Landlord responsible for maintenance repair and replacement of foundation and structure and cost to the HVAC system exceeding
$5,000 per calendar year. Landlord responsible for replacement of parking lot for the first nine years. Please see lease.
*The term of this lease shall commence (“Rent Commencement Date”) on the earlier to occur of: tenant’s opening of the premises to the public
or the 90th day following the last to occur of the date landlord provides tenant with a Certificate of Occupancy for the premises or the date the
tenant parking lot is complete, and shall end on the last day of the month containing the 15th anniversary of the rent commencement date.
15 MILE DEMOGRAPHIC INFORMATION
EMMETSBURG
GORDON
ORD
CHAMBERLAIN DELL RAPIDS
2015 POPULATION
10,264
3,286
4,336
4,767
19,215
2015 MEDIAN HOUSEHOLD
INCOME
$47,112
$35,262
$41,173
$46,651
$58,160
2015 AVERAGE HOUSEHOLD
INCOME
$60,895
$50,949
$59,115
$62,825
$70,691
All demographic information is obtained from Site To Do Business, which compiles US Census Bureau data and Esri projections for 2013.
PAGE 4
TENANT INFORMATION
PROPERTY
SHOPKO STORES
TENANT
SHOPKO STORES OPERATING CO.,LLC
REVENUES
PRIVATE
NET WORTH
PRIVATE
S&P RATING
NON-RATED
Shopko Hometown
IA, NE, NE, SD, SD
Overview
Shopko Stores focuses on a select product range across US small and rural areas. Founded in 1962 and headquarter in Green Bay, Wisconsin, Shopko
Stores Operating Co., LLC is a $3 billion retailer that operates 363 stores in 24 states throughout the Central, Western and Pacific Northwest regions. The
company’s operations including about 131 Shopko, 5 Shopko Express Rx, 5 Shopko Pharmacy locations, and 220 Shopko Hometown stores. Shopko
Stores Operating Co., LLC is an affiliate of Sun Capital Partners, Inc., a leading private investment firm focused on leverage buyouts, equity, debt, and
other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Twenty Shopko Stores were
opened in March 2015, 15 more opened in July 2015, and more than 15 additional stores the company scheduled to open in October 2015.
Strategy
Pharmacies and optical centers are big business for Shopko, which fills more than 12 million pharmacy prescriptions and sells more than 500,000 pair of
eyeglasses each year, making it one of the nation's top 15 optical companies. The retailer is also rolling out health clinics in select locations in a
partnership with Medical Marts Group. In 2014 Shopko extended its reach in Nebraska with several new stores. In 2014 the company opened new
36,000- sq. ft. Shopko Hometown stores in Quincy, Washinton; Mayville, Wisconsin; and Kasson, Wisconsin.
On the media front, in 2014 the company expanded Omnichannel by providing customers more access, including the ability to buy products on-line and
ship them to the store for free. That same year, Shopko also launched TREND.spire, a fashion blog for its customers.
Operations
Shopko Hometown stores, which fill the intermediate ground between full-size Shopko stores and the smaller Shopko Express format, sell convenience
foods, consumable goods, home products, apparel, and more. They may house pharmacies and some have optical centers. The company also operates
five Shopko Express Rx drugstores, and five Shopko Pharmacy locations. It also sells goods online. Instead of offering a watered-down selection of many
retail categories, it pushes popular, high-margin categories such as casual apparel, health and beauty aids, and housewares.
PAGE 5
MAPS
Shopko
1951 E King St
Chamberlain, SD
Shopko Hometown
IA, NE, NE, SD, SD
Shopko
HWY 77 & W 15th St
Dell Rapids, SD
Shopko
Main St & Adam St
Emmetsburg, IA
Shopko
301 South Ash Street
Gordon, NE
Shopko
133 Trotter Ave (HWY 11 & S 2nd St)
Ord, NE
PAGE 6
AREA INFORMATION
LEASE INFORMATION
LEASE TYPE
NN
LEASE TERM
15 Years
RENEWAL
OPTIONS
Four 5-Year
LEASE
Aug 28, 2016*
COMMENCEMENT
LEASE
EXPIRATION
July 31, 2031
Shopko Hometown
Emmetsburg, IA
This Shopko Hometown is situated along Main Street in Emmetsburg, Iowa. Main Street is also known as Highway 18, which is the main west to east
thoroughfare in Emmetsburg. The property is ideally situated just northeast of the Emmetsburg Municipal Airport, along the main retail corridor. Adjacent to
the property is Dollar General while across the street from the property is A&W. Other nearby retailers includes: Americas Best Value Inn, Super8 Motel, Pizza
Hut, Dairy Queen, Subway, Pizza Ranch, Hardware Hank and many more. North of the property is the historic Emmetsburg High School and the Palo Alto
County Hospital, with 47 beds. The Five Island Lake and The Shores at Five Island Golf and Country Club are located approximately one mile northeast of the
property. The Shore at Five Island is a 9 hole course with scenic views along the north shore of Five Islands Lake. The surrounding community offers many
recreational preserves including Prairie Gold Wildlife Area, Watson Heritage Area and more.
Emmetsburg is an active community, located in Palo Alto County, which is in the northwest corner of Iowa. Located at the intersection of Highways 4 & 18 in
Palo Alto County, it provides easy access to neighboring cities. Situated around the southern bay of Five Island Lake Emmetsburg lies just east of the Des
Moines River. Five Island Lake is a popular tourist destination where people enjoy boating, fishing and swimming. Though Emmetsburg is a small town of
approximately 3,800 people, the city is able to offer many aspects of a larger city. In recent years the city has seen a boom in economic development, especially
in the business and recreational industries. Emmetsburg has attracted Wild Rose Casino & Resort, Ag Processing, Inc, and POET Biorefining. Emmetsburg was
selected to be the site of the first ever commercial cellulosic refinery by POET DSM. Emmetsburg is home to Iowa Lakes Community College. Emmetsburg is
approximately 160 miles northwest of Des Moines, Iowa.
INVESTMENT SUMMARY
LEASE NOTES:
PRICE
$4,106,250
CAP
8.00%
NOI
$328,500
RENT/SF
$12.70
PRICE/SF
$158.79
Net, Net. Landlord responsible for maintenance repair and replacement of foundation and structure and cost to the HVAC system exceeding $5,000 per
calendar year. Landlord responsible for replacement of parking lot for the first nine years. Please see lease.
*The term of this lease shall commence (“Rent Commencement Date”) on the earlier to occur of: tenant’s opening of the premises to the public or the 90th
day following the last to occur of the date landlord provides tenant with a Certificate of Occupancy for the premises or the date the tenant parking lot is
complete, and shall end on the last day of the month containing the 15th anniversary of the rent commencement date.
ADDRESS
RENT ADJUSTMENTS
YEARS 1-5:
YEARS 6-10:
YEARS 11-15:
$328,500.00
$338,355.00
$348,505.65
Main St. & Adam St.,
Emmetsburg, IA
50536
BUILDING
SIZE
25,860 SQ FT
LOT SIZE
3.00 Acres
COUNTY
Palo Alto
YEAR BUILT 2016
DEMOGRAPHIC INFORMATION
1-MILE RADIUS 15-MILE RADIUS 30-MILE RADIUS
2015 POPULATION
3,647
10,264
65,708
2015 MEDIAN HOUSEHOLD INCOME
$41,650
$47,112
$48,957
2015 AVERAGE HOUSEHOLD INCOME
$57,892
$60,895
$63,292
PAGE 7
AERIAL
Shopko Hometown
Emmetsburg, IA
PAGE 8
AREA INFORMATION
LEASE INFORMATION
LEASE TYPE
NN
LEASE TERM
15 Years
RENEWAL
OPTIONS
Four 5-Year
LEASE
Nov 1, 2016*
COMMENCEMENT
LEASE
Nov 30, 2031
INVESTMENT SUMMARY
PRICE
$4,050,000
CAP
8.00%
NOI
$324,000
RENT/SF
$12.53
PRICE/SF
$156.61
RENT ADJUSTMENTS
YEARS 1-5:
$324,000.00
YEARS 6-10:
$333,720.00
YEARS 11-15:
$343,732.00
Shopko Hometown
Gordon, NE
This Shopko Hometown Store will be located near the intersection of Highway 20 and Main Street in Gordon, Nebraska.
The property is situated ideally in the main retail area of Gordon. Adjacent to the property is Bomgaar’s, other nearby
retailers include Pizza Hut, Pump & Pantry, Subway, 21st Century Equipment, Gordon Super Foods, Napa Auto Parts,
True Value, Bank of the West, Grocery Mart, Dollar General and more. Gordon Memorial Hospital, a 25 bed facility is
approximately one mile north of the property site.
Gordon is a city in Sheridan County, in the Great Plains region of the United States, with a population of approximately
1,800. The village of Gordon was officially organized on November 19, 1885, on a site just a few blocks west of the Lone
Willow, a landmark of the Old Kearney Trail. Although free homestead land was the lure that brought settlers to this
part of Nebraska in the mid 1880s, the community took shape and prospered largely due to the railroad. Present day
Gordon is home to three museums including the Scamahorn Museum, a 1884 original church structure, and several
annual festivals including The Willow Tree Festival, held each year in September, a two day outdoor event in the city
park. Gordon Golf and Country Club, a nine hole grass greens course is located on the west edge of town. Gordon is
approximately 120 miles southwest of Rapid City, South Dakota and 320 miles northwest of Denver Colorado.
LEASE NOTES:
Net. Net. 3% rent increases every 5 years. *The term of this lease shall commence (“Rent Commencement Date”) on the earlier to occur of:
tenant’s opening of the premises to the public or the 90th day following the last to occur of the date landlord provides tenant with a
Certificate of Occupancy for the premises or the date the tenant parking lot is complete, and shall end on the last day of the month containing
the 15th anniversary of the rent commencement date.
ADDRESS
301 South Ash
Street, Gordon, NE
BUILDING
SIZE
25,860 SQ FT
LOT SIZE
4.18 Acres
COUNTY
Sheridan
YEAR BUILT 2016
2015 POPULATION
1,571
3,286
11,437
$40,257
$35,262
$35,503
$55,036
$50,949
$49,769
PAGE 9
AERIAL
Shopko Hometown
Gordon, NE
PAGE 10
AREA INFORMATION
LEASE INFORMATION
LEASE TYPE
NN
LEASE TERM
15 Years
RENEWAL
OPTIONS
Four 5-Year
LEASE
July 10, 2016*
COMMENCEMENT
LEASE EXPIRATION June 30, 2031
INVESTMENT SUMMARY
PRICE
$3,909,375
CAP
8.00%
NOI
$312,750
RENT/SF
$12.09
PRICE/SF
$151.17
This Shopko Hometown is ideally situated along the southeast fringe of the city along the main thoroughfare known as Highway 11 in Ord,
Nebraska. Adjacent to the property is Arby’s and other nearby retailers includes: McDonald’s, Pizza Hut, Subway, NAPA, Ord Grocery market,
Casey’s General Store, First National Bank and many more. Ord High School is located northwest of the property approximately one and a half
miles. The local Municipal Airport is less than three and a half miles northwest of the property. The Ord Gold Club is a 9 hole course, which is
located northwest of the property and is a popular attraction.
Ord is located in Valley County, Nebraska, which is situated centrally within the state. Ord is a vibrant town of 2,112 residents nestled in the scenic
North Loup Valley on the eastern edge of the Nebraska Sandhills. Recognized in publications that include the New York Times and National Public
Radio, Ord is a genuine and progressive community with a wealth of business opportunities, a full spectrum of recreation excitement, and good, old
-fashioned home-town living. Within the past 15 years the Ord area has experienced over $125 million of private and public investment, which has
propelled the creation of over 100 new businesses, 350 new jobs and retail growth. The city is home to the Ord Learning Center, a post-secondary
education option, which is a learning facility provided by Central Community College.
Ord is approximately 160 miles northwest of Lincoln, Nebraska. Lincoln, situated in the southeastern portion of Nebraska, is the capitol and the
second-most populous city of Nebraska. Many of Lincoln's primary employers fall within the services industries. Government and the University of
Nebraska-Lincoln are both large contributors to the local economy. The Nebraska Air & Army National Guard's Joint Force Headquarters are located
in Lincoln along with other major units of the Nebraska National Guard. One of the largest employers is Bryan Health, which consists of two major
hospitals and several large outpatient facilities located across the city. Lincoln has many attraction including Centennial Mall, Downtown Lincoln,
Deer Springs Winery, Governor's Mansion, Historic Haymarket and many more. Also, the Pla-Mor Ballroom is a staple of Lincoln's music and dance
scene, featuring its house band, the award-winning Sandy Creek Band.
LEASE NOTES:
Net, Net. 3% rent increases every 5 years. *The term of this lease shall commence (“Rent Commencement Date”) on the earlier to occur of:
RENT ADJUSTMENTS
ADDRESS
133 Trotter Ave.,
Ord, NE
YEARS 1-5:
$312,750.00
BUILDING
SIZE
25,860 SQ FT
YEARS 6-10:
$322,132.50
LOT SIZE
4.06 Acres
COUNTY
Valley
YEARS 11-15:
$331,796.47
Shopko Hometown
Ord, NE
YEAR BUILT 2016
2015 POPULATION
1,986
4,336
12,934
$38,574
$41,173
$40,455
$56,301
$59,115
$54,927
PAGE 11
AERIAL
Shopko Hometown
Ord, NE
PAGE 12
AREA INFORMATION
LEASE INFORMATION
LEASE TYPE
NN
LEASE TERM
15 Years
RENEWAL
OPTIONS
Four 5-Year
LEASE
July 10, 2016*
COMMENCEMENT
INVESTMENT SUMMARY
PRICE
$4,140,000
CAP
8.00%
NOI
$331,200
RENT/SF
$12.81
PRICE/SF
$160.09
This Shopko Hometown property is located at the northwest corner of the intersection of Highway 16 and East King Street. Adjacent to this property is an AmericanInn
Lodge and Suites, Dairy queen, and a Cenex. Other area retailers include Family Dollar, McDonalds, Wells Fargo Bank, Subway, Radioshack, Taco John’s and Napa Auto
Parts. Two miles northwest of the property is the Sanford Chamberlain Medical Center, a 25 bed, private room facility and Chamberlain High School.
Chamberlain is a city in Brule County, South Dakota. It is the county seat of Brule County. Chamberlain is located at the crossroads of Interstate 90 and the majestic
Missouri River in south central South Dakota. Because of location, it is often considered the Gateway to the Old West. Chamberlain hosts a vibrant business district,
antique shopping, great opportunities for boating, hunting and fishing enthusiasts, the Chamberlain Country Club, an excellent educational system, a first-rate medical
facility, recreational facilities for all ages and is surrounded by rich Native American Culture. Area attractions are the Akta Lakota Museum and Culture Center which
profiles the lives of nomadic northern Plains Indians. They display art, artifacts and educational displays in the museum’s collection in honor of the Lakota (Sioux)
heritage and culture. The Chamberlain-Oacoma Bridge spans across the Missouri River, it is also known as the American Legion Memorial Bridge. The Lewis and Clark
Interpretive Center commemorates the Lewis & Clark 1803-1806 expedition as they voyaged through South Dakota. It features interpretive panels and murals
reconstructing the expedition journey. Roam Free Park has hiking and walking trails along the bluffs overlooking the Missouri River. It provides education and recreation
for the residents and visitors of the area. Chamberlain is also home to the South Dakota Hall of Fame and the Native American Scenic Byway.
Chamberlain is approximately 135 Miles west of Sioux Falls, North Dakota. The city is situated on the prairie of the Great Plains at the junction of Interstate 90 and
Interstate 29. The city is the fastest growing metro area in South Dakota and the metropolitan area accounts for almost thirty percent of the state’s population. Sioux
Falls maintains a network of more than 70 parks and greenways that are spread throughout the city. Probably the best known of these is Falls Park, established around
the city's namesake waterfalls on the Big Sioux River, just north of downtown. Partially due to the lack of a state corporate income tax, Sioux Falls is the home of a
number of financial companies. The largest employers among these, and fourth and fifth largest employers overall, are Wells Fargo and Citigroup. Other important
financial service companies located in Sioux Falls include Great Western Bank, Western Surety Company, Total Card Inc., Capital Card Services, Midland National Life
Insurance Company, Capital One, and First Premier Bank. Sioux Falls is a significant regional health care center. There are four major hospitals in Sioux Falls: Sanford
Health Avera McKennan Hospital, the South Dakota Veterans Affairs Hospital, and the Avera Heart Hospital of South Dakota. Because of the relatively long distances
between Sioux Falls and larger cities, Sioux Falls has emerged as an important regional center of shopping and dining. The Empire Mall, with over 180 stores, anchors
one of the primary retail zones in the southwest section of the city. Sioux Falls host many annual events and festivals including the SculptureWalk, First Firdays, Festival
of Bands, Party in the Park and more.
LEASE NOTES:
Net, Net. 3% rent increases every 5 years. *The term of this lease shall commence (“Rent Commencement Date”) on the earlier to occur of:
RENT ADJUSTMENTS
ADDRESS
1951 E. King St.,
Chamberlain, SD
YEARS 1-5:
$331,200.00
BUILDING
SIZE
25,860 SQ FT
$341,136.00
LOT SIZE
2.80 Acres
COUNTY
Brule
YEARS 6-10:
YEARS 11-15:
$351,370.00
Shopko Hometown
Chamberlain, SD
YEAR BUILT 2016
2015 POPULATION
1,947
4,767
10,833
$41,097
$46,651
$42,384
$60,719
$62,825
$58,152
PAGE 13
AERIAL
Shopko Hometown
Chamberlain, SD
PAGE 14
AREA INFORMATION
LEASE INFORMATION
LEASE TYPE
NN
LEASE TERM
15 Years
RENEWAL
OPTIONS
Four 5-Year
LEASE
July 10, 2016*
COMMENCEMENT
Shopko Hometown
Dell Rapids, SD
This Shopko Hometown is located at the intersection of West 15th Street and North Highway 77 in Dell Rapids, South Dakota. Situated along
the northwestern fringe of Dell Rapids, the property is ideally located along the main north to south corridor in Dell Rapids, which provides
direct access to Sioux Falls. Adjacent to the property is Ace Hardware and other nearby retailers includes: Family Dollar, NAPA, Dairy Queen,
Subway, Pizza Ranch, Casey’s General Store and many more. The Dells Rocky Run Golf Course is just southwest of the property and is an 18hole, championship quality course. The Avera Dells Area Hospital is just southwest of the property and has 23 beds.
Dell Rapids is located in Minnehaha County, which is situated in the southeastern corner of South Dakota near Sioux Falls. Known as "The little
city with the big attractions," they city prides itself as being one of the most distinctive and colorful communities along the Dakota Plains.
Established on the banks of the Big Sioux River in 1871, this community of 3,650 people is less than 20 miles from Sioux Falls, South Dakota's
largest city. Dell Rapids has enjoyed the advantages of being close to Interstate 29 and Sioux Falls while retaining its rock-solid identity as
home to the Dells of the Big Sioux. Dell Rapids' Historic Main Street dates back to 1888 and includes among its attractions, the Dell Rapids
Museum, and the Rose Stone Inn bed and breakfast. The Dells Theater has been an art deco fixture downtown since 1938. Dell Rapids is less
than 20 miles north of Sioux Falls, South Dakota.
INVESTMENT SUMMARY
PRICE
$4,055,625
CAP
8.00%
NOI
$324,450
RENT/SF
$12.55
PRICE/SF
$156.83
LEASE NOTES:
Net, Net. Landlord responsible for maintenance repair and replacement of foundation and structure and cost to the HVAC system exceeding $5,000 per
calendar year. Landlord responsible for replacement of parking lot for the first nine years. Please see lease.
*The term of this lease shall commence (“Rent Commencement Date”) on the earlier to occur of: tenant’s opening of the premises to the public or the 90th
day following the last to occur of the date landlord provides tenant with a Certificate of Occupancy for the premises or the date the tenant parking lot is
complete, and shall end on the last day of the month containing the 15th anniversary of the rent commencement date.
ADDRESS
RENT ADJUSTMENTS
YEARS 1-5:
YEARS 6-10:
YEARS 11-15:
$324,450.00
$334,183.50
$344,209.00
Hwy. 77 & W. 15th
St., Dell Rapids, SD
57022
2015 POPULATION
BUILDING
SIZE
25,860 SQ FT
LOT SIZE
3.50 Acres
COUNTY
Minnehaha
YEAR BUILT 2016
2,695
19,215
260,120
$52,365
$58,160
$54,501
$65,930
$70,691
$71,281
PAGE 15
AERIAL
Shopko Hometown
Dell Rapids, SD
PAGE 16
ABOUT UPLAND
THE UPLAND ADVANTAGE
Upland Real Estate Group, Inc., which was founded in 1995, is a
Minneapolis based commercial real estate, brokerage, and investment
company, which focuses on passive real investments, 1031 solutions,
real estate portfolio diversification, and wealth preservation. Upland
offers "big business service" with the attentiveness you expect from a
boutique shop.
Our ability to swiftly match buyers with sellers is one of the many
reasons Upland Real Estate Group, Inc. is the nation's primary
resource for the purchase or sale of net leased, credit investment
properties. Many investors and 1031 tax deferred exchange buyers
have benefited from the experience and expertise of our team of net
leased investment sales specialists.
Shopko Hometown
IA, NE, NE, SD, SD
PROVEN SUCCESS RECORD
 Completed in excess of 600 net leased sales transactions totaling
over $1.7 billion
 Combined sales experience of over 55 years
 Specialized in NNN investment market for more than 19 years
Upland’s 1031 investment specialists have successfully completed net
lease sales transactions with tenants including, but not limited to:
7-Eleven
Advance Auto
Applebee’s
Arby’s
BJ’s Wholesale
Bridgestone/Firestone
Buffalo Wild Wings
Burger King
Camping World
CVS Pharmacy
Dollar General
Family Dollar
Gander Mountain
Goodwill
Jack in the Box
Jiffy Lube
KinderCare Learning Center
Kohl’s
McDonald’s
National Tire & Battery
O’Reilly Auto Parts
Petco
Sherwin Williams
Starbucks
Taco Bell
Tires Plus
Tractor Supply
Trader Joe’s
Valvoline
Walgreens
BENEFITS OF WORKING WITH UPLAND

Nationally recognized CCIM accredited sales team

Comprehensive and searchable online database

Excellent reputations and credibility

Online Letter of Intent forms

Access to confidential off-market properties

Extensive referral network

Prompt follow-up and attention to detail
www.nnnsales.com
L to R: Anna Blake ; Amanda Leathers; Keith Sturm, CCIM; Deb Vannelli, CCIM, Katie Serakos
PAGE 17

Shopko Hometown Portfolio - Upland Real Estate Group

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