EXCLUSIVE LISTING Offering Memorandum - TD Bank (Ground Lease) | Clinton, MD
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
TD Bank| Clinton,
EXCLUSIVE MD
LISTING
Offering Memorandum
TD Bank (Ground Lease) | Clinton, MD
Actual Site
ANDREW FALLON
EXECUTIVE MANAGING DIRECTOR
(703) 787-4733
afallon@calkain.com CCAALLKKAAIIN
N.C
.CO
OMM
1
TD Bank| Clinton, MD
Offering Memorandum
Rent Schedule
Financial Summary
Term Annual Rent Monthly Rent Increases Yield
1/2012 - 12/2016 $352,000 $29,333.00 10% -
8912 Woodyard Rd | Clinton, MD 20735 1/2017 - 12/2021 $387,200 $32,266.30 10% 5.25%
Asking Price $7,375,250 | Cap Rate 5.25% 1/2022 - 12/2026 $425,920 $35,492.93 10% 5.78%
1/2027 - 12/2031* $468,512 $39,042.67 10% 6.35%
Net Operating Income (NOI) $387,200 1/2032 - 12/2036* $515,363 $42,946.92 10% 6.99%
Rent/Month $32,266 1/2037 - 12/2041* $566,899 $47,241.63 10% 7.69%
1/2042 - 12/2046* $623,589 $51,965.79 10% 8.46%
Rentable Square Feet 4,100+/- SF
* Options
Land Area 0.91+/- Acres
Investment Highlights
Tenant Name TD Bank
•• Absolute NNN, ground lease with 10% rent increases every 5 years
Website www.tdbank.com
•• TD Bank (NYSE: TD) Standard & Poor’s rating AA-
Credit Rating S&P: AA- •• Washington, DC MSA; Population of 115,000+ & average HH income of
$107,000 within 5 miles
Stock Symbol NYSE: TD
•• Hard signalized corner with over 34,000 VPD on Woodyard Rd
Guarantor Corporate •• Located within 2 miles of Andrews Air Force Base with 15,000+ active duty
military members and families as well as civilian employees
Ownership Type Ground Lease
•• As of June 30, 2017 branch deposits in excess of $48,441,000 by the FDIC,
Lease Type NNN a 21%+ increase since June 2016 and represents 23.5% of total deposits
for TD Bank in Prince George’s County
Landlord Responsibilities None
Lease Term Remaining 9 Years
Rent Commencement December 11, 2006
Lease Expiration December 31, 2026
Increases 10% Every 5 Years
Options Four (4), Five (5) Year
2
TD Bank| Clinton, MD
Offering Memorandum
Site Photos
3
TD Bank| Clinton, MD
Offering Memorandum
Tenant Overview
About TD Bank
TD Bank, America’s Most Convenient Bank®, is one of the 10
largest banks in the U.S., with more than 26,000 employees
and deep roots in the community, dating back more than 150
years.
TD Bank offers a broad array of retail, small business and
commercial banking products and services to more than 8 million Customers
through our extensive network of approximately 1,300 retail Stores throughout
the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition to
banking products, TD Bank and its subsidiaries provide clients with customized
private banking and wealth management services through TD Wealth® and
vehicle financing and dealer commercial services through TD Auto Finance.
TD Bank is a member of TD Bank Group and a subsidiary of The Toronto-Dominion
Bank of Toronto, Canada, a top 10 financial services company in North America.
The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges
under the ticker symbol “TD.”
Tenant
The Business Model Snapshot
# of Branches
TD Bank is committed to delivering a unique, Customer-centric banking 1,300+
experience that is convenient and hassle-free. Not only do they have the
Stock Symbol
longest hours in the markets, they’re dedicated to exceeding expectations
NYSE: TD
to surprise and delight the Customers by turning every encounter into a
WOW! experience with: Credit Rating
S&P: AA-
• Legendary service • Free customer coin counting Customers
8M+
• Longer hours • Online and mobile banking
• Live customer service 24/7 • Free pens, lollipops and dog
biscuits
4
TD Bank| Clinton, MD
Offering Memorandum
Surrounding
Site Photos
Retail
5
TD Bank| Clinton, MD
Offering Memorandum
Location Overview
Distance To: Baltimore, MD
Alexandria, VA 20 mins
Washington, DC 30 mins
Baltimore, MD 60 mins
• $113,994 average household
income within 3 mile radius
• Growing Washington, DC
suburb, with 115,018 people
within 5 miles 495
5
Washington, DC
66
395
Alexandria, VA Andrews Air Subject Site
Force Base
Clinton, MD
95
6
TD Bank| Clinton, MD
Offering Memorandum
8912 Woodyard Rd | Clinton, MD 20735
Woodyard Crossing Clinton Plaza
5
Bran
McDonald’s
206,049 SF
ch Av
of Retail
e 100
486,777 SF
of Retail
,772
VPD
Blakely
Homes
D
d 34,041 VP
Wood yard R
Lab
Corporation
Subject Site
7
TD Bank| Clinton, MD
Offering Memorandum
8912 Woodyard Rd | Clinton, MD 20735
5
Bra
nch
Ave
100
,77
2V
Rd 34,041 VPD
Woodyard
PD
Subject Site
8
TD Bank| Clinton, MD
Offering Memorandum
Site Plan
Subject Site
9
TD Bank| Clinton, MD
Offering Memorandum
Demographics
Radius 1 Mile 3 Miles 5 Miles
Population
2017 Population 8,480 47,440 115,018
2022 Population 8,668 49,707 120,684
2010-2017 Annual Rate 0.52% 0.84% 0.97%
2017-2022 Annual Rate 0.44% 0.94% 0.97%
2017 Male Population 47.9% 47.6% 47.3%
2017 Female Population 52.1% 52.4% 52.7%
2017 Median Age 45.5 40.9 40.0
Households
2017 Total Households 2,903 15,950 40,251
2022 Total Households 2,952 16,609 41,948
2010-2017 Annual Rate 0.36% 0.68% 0.80%
2017-2022 Annual Rate 0.34% 0.81% 0.83%
2017 Average Household Size 2.76 2.92 2.83
Median Household Income
2017 Median Household Income $101,498 $99,424 $91,999
2022 Median Household Income $108,219 $105,922 $100,601
2017-2022 Annual Rate 1.29% 1.27% 1.80%
Average Household Income
2017 Average Household Income $115,776 $113,994 $107,891
2022 Average Household Income $129,545 $128,420 $121,557
2017-2022 Annual Rate 2.27% 2.41% 2.41%
Per Capita Income
2017 Per Capita Income $40,851 $38,860 $38,023
2022 Per Capita Income $45,189 $43,394 $42,477
2017-2022 Annual Rate 2.04% 2.23% 2.24%
10TD Bank| Clinton, MD
Offering Memorandum
Market Overview
Clinton, MD
Clinton is an unincorporated census-designated place (CDP) in the southern part
of Prince George’s County in Maryland, United States. The population of Clinton
was 35,970 at the 2010 census. Clinton is historically known for its role in the
American Civil War concerning the Abraham Lincoln assassination. Clinton is
adjacent to Camp Springs, Rosaryville, Melwood, and Andrews Air Force Base,
home of the Air Force Systems Command and the President’s plane Air Force One.
11TD Bank| Clinton, MD
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
ANDREW FALLON
EXECUTIVE MANAGING DIRECTOR
(703) 787-4733
afallon@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 South Florida 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.
You can also read
