EXCLUSIVE LISTING Offering Memorandum - Caliber Collision | Dundalk, MD (Baltimore MSA) - LoopNet
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EXCLUSIVE LISTING
Caliber Collision | Dundalk, MD (Baltimore MSA)
Offering Memorandum
Caliber Collision | Dundalk, MD (Baltimore MSA)
Representative Photo
JONATHAN W HIPP BRIAN O’HEAR
PRESIDENT & CEO DIRECTOR
(703) 787-4725 (571) 449-8079
jhipp@calkain.com bohear@calkain.com CCAALLKKAAIIN
N.C
.CO
OMM
1
Caliber Collision | Dundalk, MD (Baltimore MSA)
Offering Memorandum
Financial Summary
7910-7916 Dundalk Ave | Dundalk, MD 21222 Investment Highlights
•• Automobile zoning use designation with outside storage
Asking Price $553,500 | Cap Rate 6.00%
•• Irreplaceable zoning
Net Operating Income (NOI) $33,211 •• Low rental rate resulting in above average sales
Rent/Month $2,940 •• Just added 500th location in March 2017 with additional 100 locations be-
ing added in the next 2 years
Rent/SF $2.56
Rentable Square Feet 13,762+/- SF
Land Area 0.40+/- Acres
Tenant Name Caliber Collision
Guarantor Corporate
Ownership Type Fee Simple Caliber Collision Rapid
Lease Type NNN Less Reserves Locations Growth
Landlord Responsibilities Roof, Skylights There are currently over Since 1997 Caliber has had
500+ locations throughout continuous growth over
Lease Term Remaining 13 Years the US 20+ years
Rent Commencement May 28, 2016
Lease Expiration May 31, 2031
Increases 10% Every 5 Years
Options Two (2), Five (5) Year Insurance $2.5 Billion
Companies Revenue
Insurance companies As of 2017 Caliber Collision
choose Caliber Collision for has over $2.5 Billion in
fast repairs and service revenue
2
Caliber Collision | Dundalk, MD (Baltimore MSA)
Offering Memorandum
Steve Grimshaw, CEO of Caliber industry, which is highly fragmented with tens of thousands of small, mom-
Collision, believes customer and-pop shops. Caliber and three other big companies—including Dallas-
empathy is key in growing his based Service King—together own only about 12 percent of the market.
business. In addition to spending on basic services for customers such as damage
BY GLENN HUNTER repair, parts replacement, painting and refinishing, Caliber ponies up at least
PUBLISHED IN D CEO $10 million a year on “personal development training” for its managers and
MARCH 2017
staff. That’s especially important because the company has grown so rapidly,
PHOTOGRAPHY BY adding a total of 114 new sites in 2016 alone, for example.
JOSH BLAYLOCK Helping with the company’s expansion spree has been Tim Patterson,
managing director and head of the Toronto office for Ontario, Canada-
based OMERS Private Equity, which makes private equity investments for
HOW CALIBER COLLISION IS one of Canada’s largest pension funds. Patterson joined the Caliber board of
DOMINATING THE INDUSTRY directors after OMERS snapped up 75 percent of the Texas company for an
undisclosed sum in 2013.
CEO Steve Grimshaw has expanded locations and increased revenue for the
Lewisville-based company.
“Steve is a big reason why OMERS was so interested in Caliber,” Patterson
says of the chief executive. “He’s a great leader. He has a natural ability to
If you own a motor vehicle, it’s predicted you’ll have an accident once every inspire people to achieve great things as a team.”
10 to 12 years. Whenever one happens it can trigger a major hassle, with
out-of-pocket costs, work disruptions, and angst over finding an honest, The private equity firm is “bullish” on Caliber’s growth prospects, Patterson
efficient repair shop. It’s an ordeal that Steve Grimshaw—CEO since 2009 goes on, since “insurance companies are pushing more and more volume to
of Caliber Collision, the nation’s largest collision-repair outfit—knows well large operations like Caliber, because they can offer better-quality service
and has confronted head-on. overall. They have the IT infrastructure and can provide faster turnaround
times for repairs. That’s a big deal, because of the rental-car expense [to the
Before he joined the company, Lewisville-based Caliber “had a good insurance carrier]. Large operations also have higher customer satisfaction
reputation for fixing cars from a quality perspective, but nothing else. It was ratings, making for a win-win-win all around.”
lacking a focus on customers,” Grimshaw says. “So, we designed systems and
processes to focus on the customer—managing the customer, explaining With roughly 10,000 employees now—up from 1,600 when Grimshaw came
everything, showing empathy, communicating that [repair] is a process. aboard—Caliber foresees adding 120 to 150 new locations in 2017, boosting
They must be fully satisfied … and you have to knock it out of the park.” its annual revenue to about $2.5 billion. It’s all the result of his “restoring
lives” focus, Grimshaw contends. “We’re in the customer service business,”
Under Grimshaw’s leadership, Caliber—whose tagline is “Restoring the he says. “We just happen to fix cars.”
rhythm of your life”—seems to have knocked quite a few out of the park. The
company has increased its number of locations, from 68 to more than 460, in Source: www.dmagazine.com
states like Texas, California, and Arizona, and its revenue, from $280 million
to $1.65 billion. Today, Caliber dominates the $40 billion U.S. collision-repair
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Caliber Collision | Dundalk, MD (Baltimore MSA)
Offering Memorandum
Tenant Overview
About Caliber Collision toward restoring the rhythm of your life – it’s what drives Caliber.
Caliber Collision didn’t get to be the nation’s The Executive Team, Central Support Staff and Customer Call Center are
largest collision repair company by accident. headquartered in Lewisville, TX, just minutes north of Dallas/Fort Worth
It’s taken an unyielding commitment to being International Airport.
the collision repair center of choice in every
community they serve – a vision that began Commitment
when the company was founded in 1997 and At Caliber, the word “commitment” is rooted in their DNA. It is the cornerstone
continues strong to this day. upon which they have built their business and relationships. Their purpose is to
To achieve this, they were not just part of the collision repair industry - they lead it. restore their customers to the rhythm of their lives. Caliber’s vision is to be the
Not only by setting new standards in customer service, but also by implementing company that improves the image of the collision repair experience. Their mission
cutting edge technology at every turn. This is how they have built a company with is to become the collision repair provider of choice in every community they serve.
more than 500 convenient, state-of-the-art repair centers and growing, and why The only way to achieve this is through steadfast commitment to customers.
hundreds of thousands of people entrust their vehicles to them every year. So This means you can expect consistently high quality, accurate estimates and on-
when you hand over your keys to Caliber Collision, you’re taking the first step time delivery at every Caliber location.
4
Caliber Collision | Dundalk, MD (Baltimore MSA)
Offering Memorandum
Location Overview
Towson, MD
Distance To: 695 Baltimore, MD
Baltimore, MD 9 miles
Towson, MD 17 miles Dundalk, MD
95
Columbia, MD 28 miles
Columbia, MD 695
Subject Site
Washington, DC 42 miles
95
495
Washington, DC
495
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Caliber Collision | Dundalk, MD (Baltimore MSA)
Offering Memorandum
7910-7916 Dundalk Ave | Dundalk, MD
Merritt Park
Dundalk High
School
Dundalk
Elementary
School
157
Logan Village
Subject Site
BIG BITE
Dundalk Dundalk A
Marine ve 4,950 V
Terminal
PD
GWTP
Bro
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wy
695
6
Caliber Collision | Dundalk, MD (Baltimore MSA)
Offering Memorandum
7910-7916 Dundalk Ave | Dundalk, MD
Subject Site
Logan Village
BIG BITE
PD
Ave 4,950 V Dundalk A
ve 4,950 V
Dundalk Rd PD
nt
oi
rsP
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So
Dundalk
Marine Sollers Point
Terminal Branch of the
GWTP Baltimore County
Br
Public Library
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7
Caliber Collision | Dundalk, MD (Baltimore MSA)
Offering Memorandum
Site Plan
Subject Site
Du
nd
alk
Av
e4
,95
0V
PD
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Caliber Collision | Dundalk, MD (Baltimore MSA)
Offering Memorandum
Demographics
Radius 3 Miles 5 Miles 10 Miles
Population
2017 Population 62,790 142,546 919,376
2022 Population 63,914 145,407 932,135
2010-2017 Annual Rate 0.32% 0.54% 0.32%
2017-2022 Annual Rate 0.36% 0.40% 0.28%
2017 Male Population 48.2% 49.0% 48.1%
2017 Female Population 51.8% 51.0% 51.9%
2017 Median Age 39.3 37.0 36.4
Households
2017 Total Households 23,878 55,746 359,915
2022 Total Households 24,188 56,634 364,106
2010-2017 Annual Rate 0.14% 0.39% 0.24%
2017-2022 Annual Rate 0.26% 0.32% 0.23%
2017 Average Household Size 2.61 2.54 2.48
Median Household Income
2017 Median Household Income $48,929 $51,312 $51,054
2022 Median Household Income $51,159 $54,318 $53,972
2017-2022 Annual Rate 0.90% 1.15% 1.12%
Average Household Income
2017 Average Household Income $57,788 $66,069 $67,546
2022 Average Household Income $64,318 $74,928 $76,618
2017-2022 Annual Rate 2.16% 2.55% 2.55%
Per Capita Income
2017 Per Capita Income $22,231 $26,128 $27,095
2022 Per Capita Income $24,598 $29,481 $30,571
2017-2022 Annual Rate 2.04% 2.44% 2.44%
9
Caliber Collision | Dundalk, MD (Baltimore MSA)
Offering Memorandum
Demographics | 5 Mile Radius
AGE PYRAMID
10Caliber Collision | Dundalk, MD (Baltimore MSA)
Offering Memorandum
Market Overview
Dundalk, MD
Dundalk is an unincorporated community located in Baltimore County, Maryland.
Part of the Baltimore metropolitan area, Dundalk is situated only 7 miles east of
Maryland’s largest city. The community is surrounded by Interstate I-695 (the
Beltway), Interstate I-95, and Maryland State Highways 20 and 150. Dundalk is
the home of the Community College of Baltimore County (CCBC).
There is also a wealth of attractions in the surrounding Greater Baltimore
metropolitan area. Just a few of these places are:
•• Baltimore Maritime Museum: Located at Baltimore’s Inner Harbor, tours
are offered of the USS Torsk, the USCGC Taney, the Lightship Chesapeake
and more
•• Baltimore Museum of Art: More than 90,000 pieces on display including
works by Picasso, Matisse and Renoir
•• Maryland Science Center: Another Inner Harbor attraction features inter-
active exhibits, a planetarium, and an IMAX 3-D theater
•• National Aquarium in Baltimore: An aquatic wonderland of exotic and na-
tive Maryland species
•• Cascade Lake: Fishing, picnicking, and a swimming are with waterslides, a
high-dive platform, and floating rafts
•• Babe Ruth Museum
•• The Maryland Zoo in Baltimore
•• The U.S. Lacrosse Museum and National Hall of Fame
The Greater Baltimore metro area is also a haven for fans of pro sports. The
following teams all call Baltimore home:
•• Football: Baltimore Ravens (NFL)
•• Baseball: Baltimore Orioles (MLB)
•• Soccer: Baltimore Blast (MISL)
•• Basketball: Baltimore Pearls (ABA)
•• Lacrosse: Baltimore Bayhawks (MLL)
11Caliber Collision | Dundalk, MD (Baltimore MSA)
Offering Memorandum
About Calkain
Who Are We?
Calkain Companies LLC is a national commercial real estate firm that provides With the growth in staff, seasoned professionals have been attracted to Calkain’s
consulting and brokerage services to both private and institutional clientele model of innovation, entrepreneurship and the fostering of long-lasting and
with an expertise on triple net lease investments. We pride ourselves on being meaningful relationships. Industry experts have joined Calkain in the hopes of
a world class leader by providing our clients a full array of commercial real estate implementing the skills they have honed in complementary aspects of real estate
investment brokerage and asset management solutions, including advisory, investment.
research, estate planning and wealth management. Through a tremendous endeavor, tireless hours have been committed to
We have built solid relationships throughout our decades of experience and continually prove that Calkain is America’s Net Lease Company®. Its countless
innovation, implementing long-term allocation within the context of each client’s accolades received from the world’s leading business publications, including
particular risk tolerance and identifying how best to acquire and dispose of income Forbes™, Fortune™ and the New York Times™ have confirmed that Calkain is a
producing properties for each entities’ specific set of investment criterion. At true leader in triple net lease investing services.
Calkain, our foresight and past performance are leading the net lease investment
industry.
Client Testimonial
Our History
Like most success stories, Calkain was formulated from humble beginnings.
“USRA has worked with Calkain on numerous occasions. They have always been
meticulous in their work ethic, providing superior service and extremely prompt
Jonathan W. Hipp, President and CEO, took the initiative to build upon his
attention to our needs. I highly recommend them.
decades of experience and performance and left a large international brokerage
firm to become an independent and innovative leader within the triple net lease - Jack Genende, Partner | U.S. Realty Advisors, LLC. (USRA)
investment community. Armed with a sole employee and a single office, the firm
has grown exponentially since its infancy in 2005.
$11.5 Billion $350 Million
in Closed Transactions in Active Listings
JONATHAN W HIPP BRIAN O’HEAR
PRESIDENT & CEO DIRECTOR
(703) 787-4725 (571) 449-8079
jhipp@calkain.com bohear@calkain.com CCAALLKKAAIIN
N.C
.CO
OMM
12Contact Us Corporate Headquarters Washington, DC 12930 Worldgate Drive | Suite 150 Herndon, VA 20170 T: (703) 787-4714 • F: (703) 787-4783 Fort Lauderdale 200 SW 1st Avenue | Suite 880 Fort Lauderdale, FL 33301 T: (813) 282-6000 Atlanta 111 Village Parkway, Building 2 | Suite 202 Marietta, GA 30067 T: (404) 900-5629 Boston 101 Federal Street | Suite 1900 Boston, MA 02110 T: (617) 261-8584 CALKAIN.COM DISCLAIMER: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regula- tions, 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(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make 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.
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