2068 Crossings Circle - AMC Spring Hill, TN 37174 - LoopNet
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AMC
2068 Crossings Circle
Sprin g H ill, TN 37174
A CT U A L PR O PE R T Y
AMC | SPRING HILL, TENNESSEE
ON MARKET:
AMC IN SPRING HILL, TENNESSEE
A C TU AL PROPERTY
INVESTMENT HIGHLIGHTS
AMC Theatre in Spring Hill, TN Adjacent to The Crossings of Spring Hill Shopping Center
LOCATED IN THE NASHVILLE MSA 750,000 SQUARE FOOT TARGET-ANCHORED SHOPPING CENTER
Long Term Triple Net Lease (NNN) | 13 Years Remaining Ideally Located Along Strong Main St Retail Corridor with Excellent
ZERO LANDLORD RESPONSIBILITIES Visibility From the TN-396 Hwy Exit
MORE THAN 45,000 VEHICLES PER DAY (VPD)
Hedge Against Inflation
AMC FEATURES A SIGNIFICANT BASE RENT INCREASE IN 2024 Significant Capital Commitment to the Area
NEARLY $1 BILLION IN PLANNED COMMERCIAL DEVELOPMENT COMMENCING
Strong Local Demographics
IN 2020
MORE THAN 56,400 RESIDENTS WITH AN AVG HOUSEHOLD INCOME MORE
THAN $93,225 WITHIN 5 MILES Less Than Two Miles from the Under-Construction Kendron
102-ACRE MIXED-USE DEVELOPMENT FEATURING 457 RESIDENTIAL UNITS,
High Growth Market
250-ROOM HOTEL, AND 160,000 SF OF RETAIL AND OFFICE SPACE
RESIDENTIAL POPULATION INCREASE OF 58% SINCE 2010 WITHIN 5 MILES OF THE
SUBJECT PROPERTY
2
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
AMC | SPRING HILL, TENNESSEE
FINANCIAL OVERVIEW 2068 CROSSINGS CIRCLE
SPRING HILL, TN 37174
PRICE $13,080,110
CAP RATE 7.25%
NOI $948,308
PRICE PER SQUARE FOOT $278.38
RENT PER SQUARE FOOT $20.18
YEAR BUILT 2015
APPROXIMATE LOT SIZE 8.16 Acres
GROSS LEASEABLE AREA 46,987 SF
TYPE OF OWNERSHIP Fee Simple
AC T U AL P ROP E R T Y
LEASE GUARANTOR American Multi-Cinema,
Inc. (Corporate) ANNUALIZED OPERATING DATA
LEASE TYPE Triple Net (NNN) BASE RENT ANNUAL RENT MONTHLY RENT
ROOF AND STRUCTURE CURRENT 12/31/2023 $948,308 $79,026
Tenant Responsibility
*Rent Increase on 1/1/2024 of Lesser of 5% or 1.25x 5 Year CPI. Every 5 Years
3
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
31
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COL
BUCKN
SPRING STATION
MIDDLE SCHOOL
PORT RO
247 247 DUPLEX RD 247
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M Drive•In SM
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VP
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4 5, THE CROSSINGS OF SPRING HILL
396
6 SUBJECT PROPERTY
31
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396 SAT UR N PKW Y
396
AMC - Spring Hill, Tennessee
AMC | SPRING HILL, TENNESSEE
LEASE SUMMARY
LEASE COMMENCEMENT DATE 1/1/2013
LEASE EXPIRATION DATE 12/31/2033
LEASE TERM 20 Years
TERM REMAINING 13+ Years
Every 5 Years. Lesser of 5%
INCREASES
or 1.25x 5 Year CPI
396
OPTIONS TO RENEW Four, 5- Year SATU
RN PK
WY
SUBJECT PROPERTY
396
D
LV
S B
NG
SI
OS
CR
396
ACT UAL PROPERTY AC T U AL P ROP E R T Y
5
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
AMC | SPRING HILL, TENNESSEE
TENANT OVERVIEW
AMC Theatres is an American movie theatre chain headquartered in Leawood, Kansas. AMC
OVERVIEW
was founded in 1920 and has the largest share of the American theater market ahead of
Regal Entertainment Group and Cinemark Theatres. AMC Theatres has grown to having TENANT TRADE NAME AMC
more than 905 locations, serving more than 200 million guests each year with the best
OWNERSHIP Public
movie-going experience in the industry. After acquiring Odeon Cinemas, UCI Cinemas and
Carmike Cinemas in 2016, AMC became the largest movie theater chain in the world. AMC LEASE GUARANTOR American Multi-Cinema, Inc (Corporate)
has over 8,200 screens in 661 theatres in the United States and more than 2,200 screens NUMBER OF LOCATIONS 661+
in 244 theatres in Europe. The company has estimated annual revenues in excess of $5.08
HEADQUARTERED Leawood, KS
billion and more than 39,800 employees, both part and full-time.
WEB SITE https://www.amctheatres.com/
SALES VOLUME $5.5 Billion (2018)
STOCK SYMBOL AMC
BOARD NYSE
ACTU AL PROPERTY AC T U AL P ROP E R T Y
6
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
AMC | SPRING HILL, TENNESSEE
ABOUT SPRING HILL
Spring Hill is a city in Maury and Williamson counties, Tennessee, located approximately 30 miles south of Nashville. Spring Hill’s population grew to 29,036 in 2010, an increase of 276%
between 2000 and 2010. Additionally, the residential population grew more than 58% from since 2010 within 3 miles from the subject. Likewise, the city of Spring Hill is projected to grow by
another 78% from 2010 to 2030. While growth presents great challenges for Spring Hill, it also generates new opportunities for economic expansion, community development, and quality of
life improvements for current and future residents.
Spring Hill has gone through rapid development and growth in recent years, causing General Motors to reopen their auto plant and begin hiring locally again, which will hire 1,000 new
people. In Addition to this, companies such as Ryder, Goodwill, and Mars, Inc. have announced new facilities in the Spring Hill area.
6 31
31 6 45 , 00 0 VPD MAIN S T
396
KW Y
RN P
SATU
CR
OS
SI
NG
S B
LV
396
D
SUBJECT PROPERTY
396
ACTU AL PROPE RTY
7
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
NASHVILLE
NASHVILLE
31 MILES FROM SUBJECT
AMC THEATRE
5-Mile
3-Mile
1-Mile
1-Mile 3-Mile 5-Mile 1-Mile 3-Mile 5-Mile 1-Mile 3-Mile 5-Mile
2000 Population 577 3,807 16,689 2000 Households 251 1,412 5,810 2019 Average HH Income $58,229 $90,233 $93,234
2010 Population 733 10,838 41,138 2010 Households 328 3,782 14,356 2019 Median HH Income $49,400 $73,444 $79,102
2019 Population 2,195 17,194 56,476 2019 Households 947 6,173 19,932 2019 Per Capita Income $25,122 $32,396 $32,905
2024 Population 2,633 19,918 64,485 2024 Households 1,133 7,153 22,736
BROKE R HE REBY ADVI SES ALL PR O S PEC TIV E PU R CHA S ER S O F N ET L EA S ED P R O P E R T Y A S F O L L O WS : T he i n f o rm a ti o n c ontained in the following Mar ket i ng B r o chur e i s p r o p r i et ar y and s t r i ct l y co nf i d ent i a l . I t i s i n t e n de d t o be re v i e w e d on l y by t h e pa rt y r e c e i vi n g i t f ro m B r oker and should not be ma d e avai l ab l e t o any o t her p er s o n o r ent i t y w i t ho ut t he wri t t e n c on s e n t of Brok e r. T hi s M a rk e ti n g Brochur e has b een pr epar ed t o p r o vi d e s um m ar y, unver i f i ed i nf o r m at i o n t o p r o s p ect iv e pu rc h a s e rs , a n d t o e s t a bl i s h on l y a pre l i m i n a ry l e v e l o f i n te re st i n the subject pr oper ty . The inf o r m at i o n co nt ai ned her ei n i s no t a s ub s t i t ut e f o r a t h orou g h du e di l i g e n c e i n v e s t i g a t i on . Brok e r h a s n ot ma d e an y i n ve sti gation, and makes no w ar r anty o r r ep r es ent at i o n, w i t h r es p ect t o t he i nco m e o r ex p e n s e s for t h e s u bj e c t prope rt y , t h e fu t u re proj e c t e d f i na n c i al pe rf o rm ance of the p r oper ty , the s i z e and s q uar e f o o t age o f t he p r o p er t y and i m p r o veme n t s , t h e pre s e n c e or a bs e n c e of c on t a m i n a t i n g s ub sta n c e s, PCB’s or asb estos, the comp liance w i t h St at e and F ed er al r egul at i o ns , t he p hys i cal co nd it i on of t h e i m prov e m e n t s t h e re on , or t h e fi n a n c i a l c o ndi ti o n o r bu si ness p r ospects of any tenant , o r any t enant ’s p l ans o r i nt ent i o ns t o co nt i nue i t s oc c u pa n c y of t h e s u bj e c t prope rt y . T h e i n form a t i on c o nt a i n e d i n th i s Mar keting B r ochur e has b ee n o b t ai ned f r o m s o ur ces w e b el i eve t o b e r el i ab l e; ho we v e r, Brok e r h a s n ot v e ri fi e d, a n d w i l l n ot v e ri fy , a ny o f th e i n f o rm ation contained her ein, nor has B r o ker co nd uct ed any i nves t i gat i o n r egar d i ng t hes e m a t t e rs a n d m a k e s n o w a rra n t y or re pre s e n t a t i on w h a tso e ve r re ga rd ing the accur acy or comp letenes s o f t he i nf o r m at i o n p r o vi d ed . Al l p o t ent i al b uyer s m u s t t a k e a ppropri a t e m e a s u re s t o v e ri fy a l l of t h e i n f o r m ati o n se t f o r th her ein. N O N-E NDOR SE M E NT NOTICE B r o ke r i s n o t af f i l iated with, sp onsor ed b y , or end o r s ed b y any co m m er ci al t enant o r l es s ee i d ent i f ie d i n t h i s m a rk e t i n g pa c k a g e . T h e pre s e n c e of a n y c o r po ra ti o n ’s l o go or name is not intend ed to i nd i cat e o r i m p l y af f i l i at i o n w i t h, o r s p o ns o r s hi p o r e n dors e m e n t by , s a i d c orpora t i on of Brok e r, i t s a f f i l i a te s o r su bsi diar ies, or any agent, pr oduc t , s er vi ce, o r co m m er ci al l i s t i ng o f B r o ker , and i s s o l el y i n c l u de d for t h e pu rpos e of prov i di n g t e n a n t l e s s e e i n f o r m ati o n a bo u t this listing to pr ospectiv e cus t o m er s . A L L PR OPER T Y SH OWINGS A RE B Y A P P OINTMEN T ON LY . P LEASE C ON SULT Y OUR B ROK ER AG EN T F OR M OR E D E T A I L S .
C O N TA C T U S :
PREET SABHARWAL
LICENSED REAL ESTATE SALESPERSON
psabharwal@sabcap.com
t. 646.809.8830
LICENSE #: 10401279699 (NY)
R YA N M O R R I S
LICENSED REAL ESTATE SALESPERSON
rmorris@sabcap.com
t. 646.809.8844
B R YA N H U B E R
LICENSED REAL ESTATE SALESPERSON
bhuber@sabcap.com
t. 646.809.8845
BROKER OF RECORD
Jeremy Just
jeremy@blacktidedev.com
t. 615.732.6273
Blacktide Real Estate Advisors, LLC
LICENSE #:INDIVIDUAL 340151 (TN)
LICENSE #: CORPORATE 263661 (TN)
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