Offering Memorandum Goodyear Tire & Rubber Company Charlotte MSA Indian Trail, NC Prime South Charlotte Location $4,003,636 Corporate Guaranty (NASDAQ: GT ) 5.50% CAP Rate New 15-Year Lease Outparcel to Sun Valley Commons New Construction Opened January 2017
Tenant Profile The Goodyear Tire & Rubber Company (NASDAQ: GT) is a global manufacturer & retailer of tires for automobiles, commercial trucks, light trucks, SUVs, race cars, airplanes, farm equipment and heavy earthmover machinery. Founded by Frank A. Seiberling in 1898 and opening the first Goodyear factory in Akron, OH, with just 13 original employees, manufacturing bicycle and carriage tires. The company grew with the advent of the automobile and by 1908 Ford was outfitting his Model T with Goodyear tires. In 2013 The Goodyear Tire & Rubber Company opened a new global headquarters building in Akron, Ohio. Today, Goodyear employs over 69,000 employees and is one of America s most recognizable advertising icons and remains the world s largest tire company, with facilities across six continents and annual sales of more than $15 Billion. For the year 2015, The Goodyear Tire & Rubber Company reported sales and revenue of $16.44 Billion
Property Information Location The property is an outparcel of Sun Valley Commons located at 6411 Old Monroe Rd, Indian Trail, NC. Lot Size Improvements Lease Landlord Approximately 0.86 acres, or 37,531 square feet. Construction completed in 2017 of a 6,066 square foot retail building and automotive facility for Goodyear Tire & Rubber Company. This exterior of this building has been adapted to match the surrounding Sun Valley Commons Shopping Center. There are 31 parking spaces on the site. Leased to Corporate Goodyear Tire & Rubber Company for 15 years with 5 renewal options. The lease includes 7.5% bumps every 5 years. Rent commenced February 1 st, 2017. The Landlord is responsible for roof and structure. The roof warranty is for 20 years which outlast the inital Responsibilities lease term by 5 years. Net Operating Years Annual Rent Return Income 1-5 $222,000 5.50% 6-10 $238,650 5.91% 11-15 $256,549 6.36% 16-20 (Option 1) $275,790 6.83% 21-25 (Option 2) $296,474 7.35% 26-30 (Option 3) $318,710 7.90% 31-35 (Option 4) $342,613 8.49% 36-40 (Option 5) $368,309 9.12% Price $4,036,364 (5.50% Return)
Regional Aerial
Aerial & Demographics Brandon Oak s 3,500 Homes
Location Overview Indian Trail, NC: Located in the southern por,on of the Piedmont region of North Carolina, Indian Trail is a rapidly growing suburb approximately 10 miles southeast of CharloRe in Union County. Indian Trail is located in the northwestern por,on of Union County, which is among the 10 fastest-growing coun,es in the United States. Its proximity to CharloRe and the regional transporta,on network it enjoys should con,nue to generate growth and development within its boundaries.
Location Overview In January of 2009, The Gadberry Group, a loca,on services firm based in LiRle Rock, Arkansas, released a report no,ng the eight most high growth areas in the na,on. Indian Trail placed fi\h out of the eight ci,es due to a 95% increase in popula,on from the year 2000 to 2008. Also that year, Family Circle magazine named Indian Trail, NC one of The 10 Best Towns for Families. Addi,onally this same report found that the household income increased 38% from $63,578 to $87,707. The growth in income levels and net worth data earned Indian Trail a ranking of second place for a high economic stability index.
Location Overview 4 large subdivision off Wesley Chapel Road, closest to this Goodyear loca,on, has new homes or ready-to-build plans, priced from the $180K s to the $300K s. SUBDIVISIONS: Brandon Oaks - 3275 Homes Holly Park - 750 Homes Shiloh Trace - 553 Homes Taylor Glenn - 1157 Homes
Site Plan
Sun Valley Commons Sun Valley Commons is a master planned 250,000 RSF mixed-use development. Located in Indian Trail, North Carolina one of the fastest growing communities in the United States. Great demographics and strong tenant mix. Sun Valley Commons is easily accessible from major thoroughfares just 1 mile from Hwy 74 and 5 miles from I-485. The proposed Monroe Road widening project will also help to improve ingress/egress to the development. Approximately 20 miles from Charlotte Douglas International Airport. Currently, two additional developments are planned for the area. These are known as The Shoppes at Hanfield Village, anchored by Publix (approved by Town of Indian Trail in April of 2015), and The Oaks at Sun Valley, to be anchored by the YMCA (coming 2018). These additional developments will generate traffic and help establish Sun Valley as a destination center. Surrounding retailers include: CVS, Subway, Papa John s, McDonalds, Harris Teeter, Publix (Coming Soon), Moe s, Starbucks, Hickory Tavern, BT s Burger Joint, Miss Donna s School of Dance and the dental office of Dr. Andy Ramos
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