RDO. Tesla Motors Indianapolis, Indiana RYAN D. O CONNELL OFFERED BY: P INVESTMENTS

Size: px

Start display at page:

Download "RDO. Tesla Motors Indianapolis, Indiana RYAN D. O CONNELL OFFERED BY: P INVESTMENTS"

Elwin Blake
6 years ago
Views:

1 Tesla Motors Indianapolis, Indiana OFFERED BY: RYAN D. O CONNELL P Ryan@investments.com Listed in conjunction with Keith E. Dedrick Corporate Commercial Group BROKER OF RECORD License No. RB Office Fax East Camelback Road Phoenix, Arizona

2 The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Investments, LLC and should not be made available to any other person or entity without the written consent of Investments, LLC. This Marketing Brochure 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. Investments, LLC 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, or the financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Investments, LLC has not verified, and will not verify, any of the information contained herein, nor has Investments, LLC 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. All properties visits are by appointment only.

3 PROPERTY SUMMARY SITE: Tesla Motors GUARANTOR: Tesla Motors, Inc. (NASDAQ: TSLA) LOCATION: 8280 Castleton Corner Drive Indianapolis, Indiana PROPERTY TYPE: Free Standing Showroom and Service Facility TYPE OF OWNERSHIP: Fee Simple LEASE TYPE: NNN, with tenant responsible for all taxes, insurance, utilities, and maintenance, excluding roof and structure (new roof installed in 2017) LIST PRICE: $6,428,000 CAP RATE: 5.50% BASE RENT: Years 1-5: $353,565 Years 6 10: $395,992 (12% Increase) Option 1: $455,391 (15% Increase) Option 2: $523,700 (15% Increase) OPTIONS: Two (2) five (5) year options SQUARE FOOTAGE: 23,571 SF LAND AREA: 1.43 Acres RENT COMMENCEMENT: est. June 2017 LEASE EXPIRATION: est. June 2027 YEAR BUILT: 1983/2017 Renovation investments.com

4 PROPERTY SUMMARY PROPERTY OVERVIEW: Investments is pleased to present a fee simple, 23,571 square foot single tenant Tesla Motors showroom and service facility located at 8280 Castleton Corner Drive in Indianapolis, Indiana. The property is located in northeast Indianapolis across from the 1.2 Million Square foot Castleton Square Mall which is the largest and busiest mall in Indiana. The property has Interstate visibility with ingress and egress from Castleton Corner Drive. The property was originally constructed in 1983 with a complete renovation in 2017 including a new roof and upgraded exterior. The property is strategically positioned minutes away from Auto Row, with luxury car dealers including Porsche, Land Rover, BMW, Audi, Maserati, Mini and Mercedes- Benz. The lease is corporately guaranteed by Tesla Motors with a primary lease term of 10 years which is scheduled to rent commence in June There is a 12% rental increases in Year 5 and rare 15% increases at the beginning of each option period. The net lease allows for a passive investment with Tenant responsible for all taxes, insurance, utilities, and maintenance, excluding roof and structure. The site will be Tesla s first service facility in Indiana. LOCATION OVERVIEW: Indianapolis is the capital and largest city of the U.S. state of Indiana and the seat of Marion County. It is in the East North Central region of the Midwestern United States. With an estimated population over 850,000 in 2017, Indianapolis is the second most populous city in the Midwest, after Chicago, and 14th largest in the U.S. The city is the economic and cultural center of the Indianapolis metropolitan area, home to 2 million people, the 34th most populous metropolitan statistical area in the U.S. Its combined statistical area ranks 26th, with 2.4 million inhabitants. Contributing to an annual gross metropolitan product of $125.9 billion, the Indianapolis metropolitan area is the 26th largest economic region in the U.S. and 42nd largest in the world. The largest industry sectors by employment are manufacturing, health care and social services, and retail trade. As of 2017, three Fortune 500 companies were based in the city: health insurance company Anthem Inc.; pharmaceutical company Eli Lilly; and Simon Property Group, the largest real estate investment trust in the U.S. Columbus, Indiana- based Cummins opened its Global Distribution Headquarters in downtown Indianapolis in 2017 Indianapolis is also the fourth fastest high- tech job growth area in the U.S., with 28,500 information technology- related jobs. Based upon the 2010 Census, the national demographics consulting firm Claritas has estimated that for 2017 there are approximately 168,196 residents and 74,737 households with a five- mile radius of the Property. According to Claritas, the average household income with a five- mile radius of the Property was estimated to be $89,295. investments.com

5 TENANT OVERVIEW Tesla Motors (NASDAQ: TSLA) is an American automaker and energy storage company based in Palo Alto, California. The company specializes in electric cars and their powertrain components and also produces battery charging equipment. Tesla first gained widespread attention following its production of the Tesla Roadster, the first electric sports car, in The company s second vehicle, the Model S, an electric luxury sedan, debuted in Global sales for the Model S passed the 100,000- unit milestone in December 2015, and it was the world s best- selling plug- in vehicle that year. As of June 2016, the Model S ranked as the world s all- time second- best- selling plug- in after the Nissan Leaf. The Model 3, the company s first model aimed for the mass market, was unveiled in March A week after the unveiling, global reservations totaled 325,000 units, representing potential sales of over $14 billion. As of September 2016, Tesla Motors has sold almost 164,000 electric cars worldwide, making the electric carmaker the second- largest global plug- in car manufacturer after the Renault- Nissan Alliance. Tesla Motors operates 250 stores and galleries, 120 of which are outside the United States. It owns the stores and sells directly to customers via the Internet and in non- U.S. stores. The stores serve as showrooms where people learn about the company and its vehicles through an interactive experience that allows potential customers to explore Tesla s technology, learn about owning an electric car, and configure their car in Tesla s Design Studio. Tesla s Powerwall 2 home battery will soon be available at the company s retail locations as part of a revitalization that emphasizes the energy side of the business. The move to reinvent its retail sales strategy comes as part of Tesla s long term business plan to promote a 360 sustainable energy lifestyle complete with electric cars, solar power, and home battery storage. Selling a lifestyle and a way of thinking, the retail store reconfiguration will deepen Tesla s already formidable brand, which offers a premium lifestyle experience that complements a high- tech image. investments.com

6 PHOTOS FILE PHOTO FILE PHOTO

7 AERIAL/RETAILER MAP CASTLETON SQUARE MALL (1.2M SQ FT) East 82 nd Street Allisonville Road

8 SITE PLAN investments.com

9 LOCATION MAP

10 DEMOGRAPHICS DescripBon 1 Mile Radius 3 Mile Radius 5 Mile Radius Total Total Total % % % investments.com

11 DEMOGRAPHICS DescripBon 1 Mile Radius 3 Mile Radius 5 Mile Radius Total Total Total % % % investments.com

12 DEMOGRAPHICS DescripBon 1 Mile Radius 3 Mile Radius 5 Mile Radius Total Total Total % % % investments.com

13 CONTACT Ryan D. O Connell Investments 3219 East Camelback Road Phoenix, Arizona P F M E. Ryan@investments.com investments.com

Offering Memorandum. 4333, 4375 and 4415 Bandini Boulevard Vernon, CA June Prepared by: Cresa

Offering Memorandum. 4333, 4375 and 4415 Bandini Boulevard Vernon, CA June Prepared by: Cresa Offering Memorandum 4333, 4375 and 4415 Bandini Boulevard Vernon, CA 90058 June 2015 Prepared by: Cresa Confidentiality Statement The information contained in the following Marketing Brochure is proprietary