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Indianapolis, IN
Longview, WA
Conroe, TX
San Ramon, CA
Littlerock, AR
Springerville, AZ
CB Richard Ellis is pleased to offer for sale The K-S Portfolio, a group of 18 single-tenant leasehold assets located across 11 states. The portfolio is comprised of 13 supermarkets, three big box stores and two available properties which generate a portfolio level NOI of $1,867,855. The portfolio is offered for sale without a formal asking price and can be acquired either in its entirety, as subportfolios or as individual properties.
P o R t f o l I o ov E R v I E w 13 freestanding supermarkets including: Five Krogers Five Safeways One H-E-B Foods One Homeland Grocery One Lawrence Brothers IGA Three big box stores including: Two Big Lots One Hobby Lobby Two available boxes offering significant upside potential through releasing/redevelopment Long-term ground leases allow buyers to control each property through 2088 (with the exception of Cincinnati-2059, Indianapolis-2048 and Irving-2059) The portfolio offers investors strong, stable tenancy and excellent geographic diversity 15 ground leases include a Purchase Option, allowing investors to acquire the Fee Interest in each property at specified future dates All properties are ground leased at below market rents which remain fixed at current rate throughout the base term and all extension periods
Each property in The K-S Portfolio is offered for sale individually or as part of a larger portfolio.
KROGER/SAFEWAY
P o R t f o l I o M a P & ov E R v I E w
PORTFOLIO
WA
6
OR ID
MT
ND MN SD WY NE IA IN IL CO KS WI MI NY CT NJ VT NH MA
ME
7
CA
NV
UT
1
KY
PA OH WV VA NC SC MD
AZ
8 9
NM
18 13 17
15
OK
MO
4
10
AR
TN
14
11
3 12
TX
5
MS AL GA
N
954 E. McM illian Street 1. 680 Twin Aire Drive 2. 2201 W. Grauwyler Road 3. 303 St. Louis 4. 614 N. Beechwood Avenue 5. 1227 15th Avenue 6. 2505 San Ramon Valley Blvd 7. 203 S. M ountain Ave 8. 1940 East Broadway Blvd 9. 10. 128 Kilmayne Drive 11. 2513 N. Main Street 12. 721 Mecham Drive 13. 1217 W. Loop Highway # tENaNt 14. 419 Northwest Loop 436 15. 115 East Highway 152 GRoCERy Street 16. 403 N. Main aNChoRED 17. 1435 N. Waco Street 1 Kroger 18. 19302 East Admiral Plaza
16
LA
Cincinatti, OH Kroger Indianapolis, IN Kroger Irving, TX Kroger Batesville, AR Kroger Little Rock, AR Kroger Longview, WA Safeway San Ramon, CA Safeway Springerville, AZ Safeway Tucson, AZ Safeway Cary, NC Big Lots Roswell, NM Big Lots Ruidoso, NM Lawrence Brothers Conroe, TX Hobby loCatIoN Lobby CuRRENt lED Carthage, TX H-E-B Foods Homeland Foods Mustang, OK No Tenant Benton, AR No Tenant Wichita, KS Cincinatti, OH January 31, 2011 No Tenant Tulsa, OK
FL
BuIlDING SIzE Sf
BaSE RENt
RENt PSf
GRouND RENt
NoI
$43,134 $76,544 $198,000 $107,003 $139,504 $151,874 $100,410 $124,099 $133,896 $103,000 $163,796 $97,096 $102,006 totAL: $1,540,362
2 3 4 5 6 7 8 9 10 11 12 13
Kroger Kroger Kroger Kroger Safeway Safeway Safeway Safeway Safeway (Dark)
2010 CB Richard E llis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, wa rranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, indepe ndent investigation of the property to determine to your satisfaction the suitability of the property for your needs. All logos displayed on this map are the property of their respective owners, used solely to indicate that businesses associated with those marks are located in buildings displayed on the map. All Rights Reserved. Sources: CBRE Mapping Services ( 877) 580-4674; Claritas, Inc./GDT, Inc. MapFiles\Work2010\228034_SafewayKroger.wor 10/05/2010
Indianapolis, IN
Irving, TX
Batesville, AR Little Rock, AR Longview, WA San Ramon, CA Springerville, AZ Tucson, AZ Benton, AR Ruidoso, NM Carthage, TX Mustang, OK
January 15, 2014 January 15, 2014 January 15, 2014 January 15, 2014 January 15, 2014 January 15, 2024 January 15, 2014 January 15, 2014 January 15, 2014 January 15, 2014
29,000 36,000 48,700 54,000 30,500 55,150 33,500 38,600 27,700 30,200
$174,500 $249,500 $229,672 $282,200 $155,200 $206,000 $166,000 $242,500 $120,000 $132,000
$6.02 $6.93 $4.72 $5.23 $5.09 $3.74 $4.96 $6.28 $4.33 $4.37
($67,497) ($109,996) ($77,798) ($181,790) ($31,101) ($72,104) ($63,000) ($78,704) ($22,904) ($29,994)
BIG Box 14 Big Lots (Sub-leased from Kroger) Cary, NC 15 16 Big Lots Hobby Lobby Roswell, NM Conroe, TX
Tulsa, OK Wichita, KS
30,000 40,000
$0 $0
$0 $0
($38,300) ($82,138)
*Tenant responsible for ground rent payments **Includes estimated 2011 taxes
CB Richard Ellis 101 W. Washington Street Suite 1000 East Indianapolis, IN 46204
CB Richard Ellis 2620 Thousand Oaks Boulevard Suite 4000 Memphis, TN 38118
CB Richard Ellis 2620 Thousand Oaks Boulevard Suite 4000 Memphis, TN 38118
CB Richard Ellis 3501 Jamboree Rd. Suite 100 Newport Beach, CA 92660
CB Richard Ellis 2620 Thousand Oaks Boulevard Suite 4000 Memphis, TN 38118
CB Richard Ellis 1200 NW 63rd Street Suite 500 Oklahoma City, OK 73116
local Broker Contact Ryan West First Vice President 713.787.1949 ryan.west@cbre.com
CB Richard Ellis 2800 Post Oak Boulevard Suite 2100 Houston, TX 77056
t h E K-S P o R t f o l I o a f f I l I at E D B u S I N E S S D I S C lo S u R E a N D C o N f I D E N t I a l I t y aG R E E M E N t
CB Richard Ellis, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an Affiliate) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CB Richard Ellis Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the Property) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CB Richard Ellis, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CB Richard Ellis, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum. This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property. This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the Owner), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and CB Richard Ellis, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither the Owner or CB Richard Ellis, Inc, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owners obligations therein have been satisfied or waived. By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confident nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CB Richard Ellis, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CB Richard Ellis, Inc. If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CB Richard Ellis, Inc. CBRE, CB RICHARD ELLIS, and the CBRE CB RICHARD ELLIS logo are service marks of CB Richard Ellis, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.
PORTFOLIO MARKETING :: Chris angelone Executive Vice President 617.912.7062 chris.angelone@cbre-ne.com Jim Koury Executive Vice President 617.912.7015 james.koury@cbre-ne.com Bill Moylan Executive Vice President 617.912.7029 bill.moylan@cbre-ne.com
::
OKLAHOMA INDIANA :: Donna hovey Vice President 317.269.1138 donna.hovey@cbre.com MuStaNG :: Mark Inman Senior Vice President 405.272.5326 mark.inman@cbreok.com tulSa :: Richard Monaghan, CCIM Vice President 918.392.7221 richard.monaghan@cbreok.com
::
KANSAS :: Doug Malone Associate J.P . Weigand & Sons Inc 316.292.3938 malone@weigand.com
TEXAS CaRthaGE & IRvING :: Beth Pierson Associate 972.458.4922 beth.pierson@cbre.com CoNRoE :: Ryan west First Vice President 713.787.1949 ryan.west@cbre.com
ARIZONA SPRINGERvIllE :: Claudia Gilbert Senior Associate 602.735.5221 claudia.gilbert@cbre.com tuCSoN :: Nancy a. McClure First Vice President 520.323.5117 nancy.mcclure@cbre.com
www.cbre.com/K-sportfolio
CB RiChaRd ellis 33 aRCh stReet, flooR 28 Boston, M assaChuset ts 02110 617.912.7000, fa x 617.912.7001 w w w.CBRe-ne.CoM
2010 CB Richard Ellis, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. CBRE, CB RICHARD ELLIS and the CBRE CB RICHARD ELLIS logo are service marks of CB Richard Ellis, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.