OFFERING MEMORANDUM FEDEX GROUND 3400 ZELL MILLER PARKWAY I STATESBORO, GA

Transcription

1 OFFERING MEMORANDUM FEDEX GROUND 3400 ZELL MILLER PARKWAY I STATESBORO, GA I N D U S T R I A L

2 EXCLUSIVE LISTING AGENTS: ALEX HARROLD Associate GARY CHOU FVP & Senior Director DIRECT MOBILE alex.harrold@matthews.com LIC # (CA) DIRECT MOBILE gary.chou@matthews.com LIC # (CA) BROKER OF RECORD KYLE MATTHEWS Broker of Record LIC # (GA)

3 I N D U S T R I A L CONTENT INVESTMENT SUMMARY 6 TENANT OVERVIEW 9 PROPERTY OVERVIEW 12 MARKET & LOCATION OVERVIEW 16

4

5 S E C T I O N INVESTMENT SUMMARY O N E 1

6 INVESTMENT SUMMARY INVESTMENT HIGHLIGHTS Located adjacent to the 2 million sq. ft. Walmart Distribution Center, the retailer s largest distribution center in the world, and one of only a few strategically located across the country Located within Gateway Park, a 1,000-acre industrial park, home to a majority of Greater Statesboro s largest employers, including Briggs & Stratton with over 950 employees and Great Dane, employing 400; This mature industrial park offers a strategic opportunity for manufacturing operations seeking a premiere location with superb highway and global port access Statesboro s proximity to the Port of Savannah, the 4th busiest port in the United States according to the Georgia Ports Authority, is a great asset to Gateway Park, while the Highway 301 interchange provides an ease-ofuse not found anywhere closer to Savannah Thirteen (13) drive-in doors, two (2) dock-high doors, sprinklered warehouse, 17 +/- clear height at eaves, 1,900 +/- sq. ft. office space. Office area is air-conditioned Originally built in 2008, and expanded in 2014 to current size; There is room for possible future expansion on the site, increasing the facilities capacity 6 FEDEX INVESTMENT SUMMARY

7 FEDEX GROUND 3400 Zell Miller Parkway Statesboro, GA List Price $2,400,000 Cap Rate - Current / Blended 15.36% / 10.67% GLA Lot Size ± 21,122 SF ± 5.00 Acres Year Built / Expanded 2008 / 2014 TENANT SUMMARY Tenant Square Feet FedEx Ground Package System, Inc ± 21,122 SF Rent Commencement 6/18/2008 Annualized Operating Data Monthly Rent Annual Rent Cap Rate Current - 6/30/2018 $30, $368, % 7/1/2018-8/31/2021 $18, $218, % Option 1 $17, $208, % Option 2 $18, $219, % Lease Expiration 8/31/2021 Term Remaining 4+ Years Options Two, 5-Year Options Current Annual Rent $368, Type NN - Roof and Structure Only Tax, Utilities & Insurance Tenant Responsible Roof & Structure Landlord Responsible MATTHEWS REAL ESTATE INVESTMENT SERVICES 7

8 8 FEDEX INVESTMENT SUMMARY

9 TENANT OVERVIEW FEDEX CORPORATION FedEx Corporation provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenues of $58 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand.fedex Ground is a leading North American provider of ground small-package delivery services, providing service to the U.S. and Canada. FedEx Home Delivery, the industry s first ground service dedicated to residential delivery, is available from FedEx Ground and provides Saturday delivery for no additional charge. FedEx SmartPost is a ground service that specializes in the consolidation and delivery of high volumes of low-weight, less time-sensitive business-to-consumer packages primarily using the U.S. Postal Service for last mile delivery to residences. FedEx Ground business segment financial results include FedEx Supply Chain, one of the largest third-party logistics providers in North America. FEDEX GROUND The Company s FedEx Ground segment operates through FedEx Ground Package System, Inc. (FedEx Ground), which is a North American provider of small package ground delivery services. The segment provides day-certain service to any business address in the United States and Canada, as well as residential delivery to residences in the United States through its FedEx Home Delivery service. As of May 31, 2016, the FedEx Ground segment operated a multiple hub-and spoke sorting and distribution system consisting of 575 facilities, including 33 hubs, in the United States and Canada. To provide FedEx Home Delivery service and FedEx SmartPost Service, the FedEx Ground segment leverages its pickup operation and hub and line haul network. FedEx Ground provides shipment tracing and proof-of-delivery signature functionality through its Website, fedex.com. QUARTERLY OPERATING INCOME $1,800 FEDEX GROUND REVENUE (FY 2016) Revenue (in millions) $16,574 Margin 13.70% Operating Income (in millions) $2,276 Average Daily Volume 7,526 in millions $1,600 $1,400 $1,200 $1000 $800 $600 $400 $200 $0 Aug 11 Nov 11 Feb 12 May 12 Aug 12 Nov 12 Feb 13 May 13 Aug 13 Nov 13 Feb 14 May 14 Aug 14 Nov 14 Feb 15 May 15 Aug 15 Nov 15 Feb 16 May 16 MATTHEWS REAL ESTATE INVESTMENT SERVICES 9

10

11 S E C T I O N PROPERTY OVERVIEW T W O 2

12 THE OFFERING Address 3400 Zell Miller Parkway Statesboro, GA APN Zoning I - Industrial SITE DESCRIPTION GLA Lot Size ± 21,122 SF ± 5.00 Acres (217,800 SF) CONSTRUCTION Framing Steel Lot Size ± 5.00 Acres Year Built / Expanded 2008 / 2014 Parking Asphalt Roof Standing Seam Metal Clear Height ± 17 Dock-High Doors 2 Drive-In Doors FEDEX PROPERTY OVERVIEW

13 MATTHEWS REAL ESTATE INVESTMENT SERVICES 13

14

15 S E C T I O N MARKET & LOCATION OVERVIEW T H R E E 3

16 LOCATION OVERVIEW Located in Southeast Georgia, Statesboro is the largest city and county seat of Bulloch County. The city is best known as a college town that is home to Georgia Southern University, a Carnegie Doctoral-Research University. SAs the largest Micropolitan Statistical Area in Georgia and the largest city in the Magnolia Midlands Region, Statesboro is a regional trade center for commerce, education and health care. With its growing economy, the City has a highly diversified economy with several major industries located in the area and is a regional shopping center and health care provider for 8 surrounding Georgia counties. This is reflected in the low unemployment rate of 3.4%. Approximately 24% of the Bulloch County labor force is employed by the government sector including the City s largest employer, Georgia Southern University. Major private sector employers in the City include East Georgia Regional Medical Center, Walmart Super Center, and Lowe s Home Center. THE SWEET SPOT FOR MANUFACTURING Statesboro-Bulloch s industrial production is on the move, from transportation equipment to tractor engines, from textiles to food products. Bulloch County s labor and logistical assets are second to none with sites offering strategic global value chain advantages, natural and human resources, and an aggregate of vendors and suppliers. The area s Southeastern location boasts logistical superiority; Recognized by Walmart, Statesboro is home to the largest Walmart distribution center in the world. Statesboro s sites position business operations at a strategic intersection with sweeping pan-directional highway access and easy access to the Port of Savannah at just 40 minutes away. Now serviced by the Maersk and APL lines, Port of Savannah opens markets across the globe. Prime industrial sites and acreage offering easy interstate and port access Gateway Industrial Park is home to Walmart s largest distribution center Airport Industrial Park features exclusive runways of 6,000 and 4,381 feet 16 FEDEX EX MARKET AND LOCATION OVERVIEW OVER-

17 +77,000 COUNTY POPULATION $35,840 MEDIAN INCOME 19.3% JOB GROWTH RATE MATTHEWS REAL ESTATE INVESTMENT SERVICES 17

18 Walmart Distribution Center GATEWAY REGIONAL INDUSTRIAL PARK I & II Home to the 2 million sq. ft. Walmart Distribution Center, the retailer s largest distribution center in the world, Gateway Parks sprawls over nearly 1,000 acres. It s where industrial leaders like Briggs & Stratton and Great Dane are revved up and rolling out industry-leading products. Located on US 301 South, with customer-choice electric power on site, as well as city water, sewer and natural gas, these mature parks offer a strategic opportunity for manufacturing operations seeking a premiere location with superb highway and global port access. PERIMETER CENTER PARK Also located on Highway 301 South, adjacent to Ogeechee Technical College, this intelligently designed office park provides an environment conducive to productivity for smaller commercial tenants, with water, sewer, and natural gas provided by the city. PROPERTY DEMOGRAPHICS 1-Mile 3-Mile 5-Mile 2022 Projection 466 5,379 32, Estimate 462 5,280 30,942 Growth % 1.79% 6.06% Growth % 1.88% 4.66% HOUSEHOLDS 1-Mile 3-Mile 5-Mile 2022 Projection 183 2,053 10, Estimate 180 2,015 10,436 Growth % 1.89% 3.42% Growth % 1.77% 3.50% AIRPORT INDUSTRIAL PARK Adjacent to the Statesboro-Bulloch County Airport and its two runways (a 6,000 ft. runway and a 4,381 ft. runway), and less than 30 minutes from Gulfstream Aerospace manufacturing operations, Statesboro-Bulloch s Airport Industrial Park is a particularly strategic location for suppliers throughout the Gulfstream supply chain. INCOME 2017 Est. Average Household Income 2017 Est. Median Household Income 1-Mile 3-Mile 5-Mile $51, $64, $42, $34, $46, $25, FEDEX MARKET AND LOCATION OVERVIEW

19 NEIGHBORING INDUSTRIAL TENANTS Briggs & Stratton Corporation KJM Custom Components Viracon Subject Property MATTHEWS REAL ESTATE INVESTMENT SERVICES 19

20 CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of the FedEx Ground located at 3400 Zell Miller Parkway, Statesboro, GA ( Property ). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. By acknowledging your receipt of this Offering Memorandum for the Property, you agree: The Offering Memorandum and its contents are confidential; You will hold it and treat it in the strictest of confidence; and You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller. Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered. If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum. A prospective purchaser s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

21 FEDEX GROUND 3400 ZELL MILLER PARKWAY I STATESBORO, GA EXCLUSIVE LISTING AGENTS: ALEX HARROLD Associate DIRECT MOBILE alex.harrold@matthews.com License # (CA) GARY CHOU FVP & Senior Director DIRECT MOBILE gary.chou@matthews.com License # (CA) I N D U S T R I A L