BLOCKBUSTER Video BLOCKBUSTER

Subject Property
BLOCKBUSTER | Corporate Sale-Leaseback | Margate , FL
Penn Dutch Plaza
Subject
Property
Coral Landings
New Corporate Sale-Leaseback
25 Stand Alone Stores Available Throughout the Southeastern U.S.
BLOCKBUSTER
BLOCKBUSTER
Video
3101 N.Blvd.
StateSE,
Road
7, Margate
315 Greenville
Greenville,
NC , FL
$1,085,000 | 9% CAP | 8,513 SF | $127 PSF
•
•
•
•
•
•
•
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Priced Well Below Replacement Cost
Brand New 10-Year Corporate Sale-Leaseback with BLOCKBUSTER Inc. (NYSE: BBI) on 6,502+ SF
Includes 2,011+ Available Space | Proforma CAP: 11.77% - Projected Rent of $15+ PSF, NNN on Vacancy
BLOCKBUSTER Inc.: 6,000+ Stores Worldwide | Revenues $4.6+ Billion in January 2010
Strategically Located on N SR 7 (ADT: 63,000+) at W Sample Rd (ADT: 49,500+)
Outparcel to 155,000+ SF Penn Dutch Plaza & 115,000+ SF Adjacent to Coral Landings
Adjacent to: Penn Dutch, Walgreens, Best Buy, Jo-Ann, Home Goods, Jo-Ann, Bright Star Credit
Anchor Tenants in Immediate Area: Home Depot, Target, Winn Dixie, Lowe’s, Ross, Office Depot
Exclusive Listing Agents: Bob Moorhead | Joe Caputo
212.686.0079 | [email protected] | www.exp1031.com
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
In association with Florida Broker of Record: Katy Welsh | License # BK538972
BLOCKBUSTER | Corporate Sale-Leaseback | Margate , FL
INVESTMENT OVERVIEW
3101 N. State Road 7, Margate, FL
List Price:
OFF W SAMPLE RD
EXP Realty Advisors and Retail Resource Group as exclusive advisors are pleased to present for sale a stand
alone building, currently owned and 76% occupied by BLOCKBUSTER corporate. Upon closing, BLOCKBSUTER
corporate will enter into a brand new 10-year absolute NNN lease on their current space. This offering
provides investors the unique opportunity of owning net leased real estate, priced well below the building’s
replacement cost, with tremendous potential upside upon leasing the vacant space.
This location is being sold as a part of a 25 store offering which can be purchased individually or as a
portfolio. For additional information on other available BLOCKBUSTER properties please visit
www.exp1031.com.
IMMEDIATE TRADE AREA
The subject property is strategically located along N. State Route 7 (ADT: 63,000+) off W. Sample Rd. (ADT:
49,500+) and is an outparcel to Penn Dutch Plaza – 155,000+ square foot shopping center anchored by Penn
Dutch Food Center and Walgreens. Directly northeast is Coral Landings power center with Best Buy, Home
Goods and Jo-Ann. Other tenants in the immediate neighborhood include Home Depot, Target, Winn Dixie,
Lowe’s, Ross, Office Depot among many other regional and national retailers. Monarch High School, Coral
Springs High School and HCA Northwest Regional Hospital are also nearby.
$1,085,000
Occupancy:
76%
Current Income:
$97,530 / Year
CAP Rate (BLOCKBUSTER): 9.00%
CAP Rate (Proforma):
11.77%
Building Area:
8,513 + SF
BLOCKBUSTER:
6,502 + SF
Vacant Shop Space:
2,011 + SF
Building Price / SF:
$127 + PSF
Land Area:
1.52 + Acre
Land Price / SF:
$19.30 + PSF
Year Built:
1993
Ownership:
Fee Simple
MARGATE, FL
The City of Margate, Florida encompasses approximately 9.2 square miles and is located roughly 15 miles
northwest of Fort Lauderdale. Margate was incorporate in 1961, has over 56,000 residents and is home to
nearly 105 acres of parks. Margate is in the Broward County and part of the South Florida Metropolitan
Statistical Area (“MSA”).
BLOCKBUSTER
Video
Base Rent:
$97,530 / Year
BLOCKBUSTER LEASE OVERVIEW
315 Greenville Blvd. SE, Greenville, NC
Annual Rental Rate:
$15 + PSF
SOUTH FLORIDA MSA
Rent Commencement: Close of Escrow
South Florida, more officially known as Miami–Fort Lauderdale–Pompano Beach Metropolitan Area,
encompasses a three-county area of the southeastern part of the Florida. The metropolitan area covers the
counties of Miami-Dade, Broward and Palm Beach. The three counties are the three most populous in the
state. The term South Florida is roughly synonymous with Gold Coast. The 2000 US Census pegged the
population at 5,413,212 people.
Primary Term:
10 Years*
Options to Renew:
2, 5-Year
Rent Increases:
10% Every 5 Yrs.
Tenant:
BLOCKBUSTER Inc.
COPYRIGHT © 2010. ALL USE, DISCLOSURE AND/OR REPRODUCTION NOT SPECIFICALLY AUTHORIZED IS PROHIBITED. ALL RIGHTS RESERVED. Retail Real Estate Group dba Retail
Resource Group and EXP Realty Advisors (“Agent”) has presented this confidential Investment Memorandum to assist the recipient in evaluating the “Property” and it is intended for
your use only. This confidential material contains brief, selected information pertaining to the Property and shall not be considered all-inclusive or unchanged since the date of
* Tenant has a right to terminate their
preparation. No warranty as to the accuracy or completeness is expressed or implied. The information has been received from sources believed to be reliable but is not guaranteed.
Agent disclaims all liabilities in connection with any inaccuracies or incompleteness. The Buyer should independently verify each item of information and have the same reviewed by its
tax advisor and/or legal counsel. The Buyer agrees that (a) the materials are of a highly confidential nature and will be held in the strictest confidence or shall be returned to Agent upon
request; (b) the Buyer shall not contact any property manager, employee or tenant of the Property regarding the enclosed materials or the Property, without prior approval of Agent;
and (c) the Buyer understands and agrees that Agent represents the seller and not the Buyer. Neither the seller nor Agent shall have any obligation to pay any commission, finder’s fee,
or other compensation to any broker or other person dealing with the Buyer. The Buyer may provide information to persons retained for the purpose of evaluating the Property after
first obtaining a signed confidentiality agreement from such persons to keep such information confidential. The Buyer shall defend, indemnify and hold harmless the seller, Agent and its
This information
has beencosts
obtained
from sources
reliable,
however
Advisors,
Inc. norfinder’s
Retail fee
Resource
affiliates from and against any claims, demands,
damages, liabilities,
or expenses,
includingdeemed
reasonable
attorneys’
fees,neither
relatingEXP
to anyRealty
claim for
a commission,
or otherGroup guarantee, warranty or represent its accuracy.
compensation by any broker or other person dealing with the Buyer. The Property is being sold on an “as-is, where-is” and “with all faults” basis.
Lease Type:
Absolute NNN
lease after year 5.
SHOP SPACE – RENT PROJECTION
Proforma Rental Rate:
$15 + PSF, NNN
Proforma Rent:
$30,165 + / Year
BLOCKBUSTER | Corporate Sale-Leaseback | Margate , FL
Subject Property
BLOCKBUSTER Video
315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
Subject Property
BLOCKBUSTER | Corporate Sale-Leaseback | Margate , FL
Tenant Overview
Founded:
Headquarters:
BLOCKBUSTER INC.
1985
Dallas, TX
Locations:
2009 Revenue:
6,000+
$4+ Billion
www.blockbuster.com
BLOCKBUSTER Inc. (NYSE: BBI, BBI.B), is a leading global provider of in-home movie and game entertainment with over 6,000 stores
throughout the Americas, Europe, Asia and Australia. The Company, one of the strongest and most recognizable entertainment
brands in the world.
BLOCKBUSTER's stores are a ubiquitous neighborhood feature attracting nearly 47 million customers annually. Company-operated
stores are open 365 days a year generally from 10 a.m. to midnight. Merchandise selection, quantity and formats are customized at
the store level to meet the needs and preferences of local customers.
File Photo
As the media entertainment industry has evolved, so too has BLOCKBUSTER. The Company is no longer just a chain of video stores.
While transforming and diversifying its store-base continues as a company priority, BLOCKBUSTER now offers convenient access to
media entertainment any where and any way consumers want it – whether in stores, by mail, through vending / kiosks or digitally.
BLOCKBUSTER Video
BLOCKBUSTER is the only company able to provide convenient access to media entertainment across multiple channels, recognizing
that the same customer may choose different ways to access media entertainment on different nights. Whether a customer selects
traditional stores, by-mail, vending or digital, BLOCKBUSTER is uniquely positioned as the only provider to deliver entertainment
315 Greenville
content across all channels.
On November 1, 2006, the Company introduced BLOCKBUSTER Total Access™, a movie rental program that gives online customers
the option of exchanging their DVDs through the mail or returning them to a nearby participating BLOCKBUSTER® store in exchange
for free in-store movie rentals. With BLOCKBUSTER Total Access, customers no longer have to choose between renting online or
renting in-store, and they never have to be without a movie. BLOCKBUSTER has the largest in-store presence of any company in the
movie rental business, a growing online presence, and the capability -- currently, the only capability in the marketplace -- to integrate
bricks-and-mortar with online.
Blvd. SE, Greenville, NC
File Photo
The Company continues to broaden its points of presence. In 2008 BLOCKBUSTER announced an alliance with NCR (NYSE: NCR) for
vending, providing customers with a new and convenient option for accessing media entertainment. There are now over 2,000
BLOCKBUSTER Express branded kiosks in the market today.
Thinking beyond the box - in the first half of 2009 the Company announced strategic alliances with TiVo (NASDAQ: TIVO), Samsung
and Motorola (NYSE: MOT). BLOCKBUSTER anticipates similar opportunities to position the Company as a leader in the distribution of
digital entertainment.
File Photo
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
BLOCKBUSTER | Corporate Sale-Leaseback | Margate , FL
Site Plan
BLOCKBUSTER Video
315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
BLOCKBUSTER | Corporate Sale-Leaseback | Margate , FL
Aerial Photograph
AVAILABLE
2,011+ SF
6,502+ SF
BLOCKBUSTER Video
315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
BLOCKBUSTER | Corporate Sale-Leaseback | Margate , FL
Aerial Photograph
Monarch
High School
N SR-7
Coral Springs
High School
ADT: 49,500
ADT: 42,000
W Sample Rd
BLOCKBUSTER Video
NW 31st St
315 Greenville Blvd. SE, Greenville, NC
HCA Northwest
Regional
Hospital
Royal Palm Blvd
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
BLOCKBUSTER | Corporate Sale-Leaseback | Margate , FL
Location Map
BLOCKBUSTER Video
315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
BLOCKBUSTER | Corporate Sale-Leaseback | Margate , FL
Demographic Snapshot
Category
1-Mile
3-Mile
5-Mile
Total Population
16,586
135,058
346,560
Male Population
48.5%
48.1%
48.6%
Female Population
51.5%
51.9%
51.4%
40.0
41.1
39.5
5,279.4
4,776.7
4,412.5
8,837
53,226
174,179
672
4,749
15,082
Median HH Income
$54,455
$53,056
$53,256
Per Capita Income
$23,223
$24,193
$24,334
Average HH Income
$62,132
$63,698
$66,949
6,198
50,102
123,269
Population:
Median Age
Population Density (per sq. mi.)
Employees
Establishments
Income:
BLOCKBUSTER Video
315 Greenville Blvd. SE, Greenville, NC
Households:
Total Households
Average Household Size
2.66
2.66
2.78
35.3%
30.7%
26.8%
Owner Occupied Housing Units
64.7%
61.6%
58.8%
Renter Occupied Housing Units
15.1%
17.3%
19.7%
Vacant Housing Units
20.1%
21.1%
21.6%
Household Growth 1990 - 2000
Housing:
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.