HOBBY LOBBY Hialeah, Florida (Miami MSA) - Subject Property - LoopNet
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Offering Memorandum
HOBBY LOBBY
Hialeah, Florida (Miami MSA)
Subject Property
CONFIDENTIALITY AND DISCLAIMER NET LEASED DISCLAIMER
The information contained in the following Marketing Brochure is proprietary and strictly Marcus & Millichap hereby advises all prospective purchasers of Net Leased property
confidential. It is intended to be reviewed only by the party receiving it from Marcus as follows:
& Millichap Real Estate Investment Services of Florida, Inc. (“Marcus & Millichap”)
and should not be made available to any other person or entity without the written The information contained in this Marketing Brochure has been obtained from sources
consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide we believe to be reliable. However, Marcus & Millichap has not and will not verify any
summary, unverified information to prospective purchasers, and to establish only a of this information, nor has Marcus & Millichap conducted any investigation regarding
preliminary level of interest in the subject property. The information contained herein is these matters. Marcus & Millichap makes no guarantee, warranty or representation
not a substitute for a thorough due diligence investigation. Marcus & Millichap has not whatsoever about the accuracy or completeness of any information provided.
made any investigation, and makes no warranty or representation, with respect to the
income or expenses for the subject property, the future projected financial performance As the Buyer of a net leased property, it is the Buyer’s responsibility to independently
of the property, the size and square footage of the property and improvements, the confirm the accuracy and completeness of all material information before completing
presence or absence of contaminating substances, PCB’s or asbestos, the compliance any purchase. This Marketing Brochure is not a substitute for your thorough due
with State and Federal regulations, the physical condition of the improvements thereon, diligence investigation of this investment opportunity. Marcus & Millichap expressly
or the financial condition or business prospects of any tenant, or any tenant’s plans or denies any obligation to conduct a due diligence examination of this Property for Buyer.
intentions to continue its occupancy of the subject property. The information contained
in this Marketing Brochure has been obtained from sources we believe to be reliable; Any projections, opinions, assumptions or estimates used in this Marketing Brochure
however, Marcus & Millichap has not verified, and will not verify, any of the information are for example only and do not represent the current or future performance of this
contained herein, nor has Marcus & Millichap conducted any investigation regarding property. The value of a net leased property to you depends on factors that should be
these matters and makes no warranty or representation whatsoever regarding the evaluated by you and your tax, financial and legal advisors.
accuracy or completeness of the information provided. All potential buyers must take
appropriate measures to verify all of the information set forth herein. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a
careful, independent investigation of any net leased property to determine to your
satisfaction with the suitability of the property for your needs.
Like all real estate investments, this investment carries significant risks. Buyer and
NON-ENDORSEMENT NOTICE Buyer’s legal and financial advisors must request and carefully review all legal
and financial documents related to the property and tenant. While the tenant’s
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial
past performance at this or other locations is an important consideration, it is not a
tenant or lessee identified in this marketing package. The presence of any corpora-
guarantee of future success.Similarly, the lease rate for some properties, including
tion’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or
newly-constructed facilities or newly-acquired locations, may be set based on a
endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or
tenant’s projected sales with little or no record of actual performance, or comparable
any agent, product, service, or commercial listing of Marcus & Millichap, and is solely
rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail
included for the purpose of providing tenant lessee information about this listing to
to pay the lease rent or property taxes, or may fail to comply with other material terms
prospective customers.
of the lease; cash flow may be interrupted in part or in whole due to market, economic,
environmental or other conditions. Regardless of tenant history and lease guarantees,
Buyer is responsible for conducting his/her own investigation of all matters affecting
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT
the intrinsic value of the property and the value of any long-term lease, including
YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
the likelihood of locating a replacement tenant if the current tenant should default or
abandon the property, and the lease terms that Buyer may be able to negotiate with a
potential replacement tenant considering the location of the property, and Buyer’s legal
ability to make alternate use of the property.
By accepting this Marketing Brochure you agree to release Marcus & Millichap Real
Estate Investment Services and hold it harmless from any kind of claim, cost, expense,
or liability arising out of your investigation and/or purchase of this net leased property.
SUBJECT PROPERTY
1995 West 49th Street, Hialeah, Florida 33012
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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.
SUBJECT PROPERTY 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.
SUBJECT PROPERTY 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.
SUBJECT PROPERTY
Palmetto
Expressway
243,000 VPD
49TH
Stree
t | 51
,000
VPD
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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.
INVESTMENT SUMMARY
Marcus & Millichap is pleased to present this rare net leased
Hobby Lobby, single tenant investment property prominently
located at the entrance to the West 49th Street retail corridor at
the intersection in Hialeah, Florida. This 43,928-square-foot new
construction building has a 15-year corporate lease guaranteed
by Hobby Lobby Stores, Inc. Hobby Lobby is a national arts and
crafts retailer, and internationally recognized brand with a very
strong corporate structure and over $3.6 billion in gross sales
worldwide and ranked as the 106th largest private company in
the United States by Forbes.
The West 49th Street retail corridor consists of a 1.85-mile
stretch from the Palmetto Expressway east to Red Road and
is home to practically all of the top national retailers and
restaurants including Home Depot, Lowe’s, Bed Bath & Beyond,
Target, Staples, Marshalls, Red Lobster, Chili’s, Fuddruckers,
Walgreens, CVS, Verizon, SunTrust, Macy’s, Aldi, Office Depot,
LA Fitness, Ross, Chipotle, Toys “R” Us, Burlington, Walmart
Neighborhood Market, BJ’s Wholesale Club, Old Navy, Men’s
Warehouse, Denny’s, Party City, Krispy Kreme, Hooters, City
Furniture, Michael’s, Olive Garden, Pet Supermarket, BB&T,
JCPenney, TJ Maxx and many more.
The building was constructed in 2016, consists of two parcels,
and sits on 3.34 acres of land and benefits from the easy access
to the neighboring upper income communities of Doral, Palm
Springs North and Miami Lakes via the Palmetto Expressway
and Miami Springs via Okeechobee Road. The subject property
is an outparcel to the Westland Mall, one of the busiest and most
heavily shopped destinations on the West 49th Street retail
corridor with annual sales of $600 per square foot.
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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.
FINANCIAL OVERVIEW
Overview
1995 West 49th Street, Hialeah, Florida 33012
Price: $14,376,500 Lease Summary
Cap Rate: 5.50%
Tenant: Hobby Lobby
Rentable Square Feet: 43,928
Website: www.HobbyLobby.com
Annual Rent: $791,820
Guarantor: Corporate
Price PSF: $327.27
Modified NNN (15-Year Roof
Land Area: 3.34 Acres Lease Type:
Warranty in Place)
Year Built: 2016 Lease Term: 15 Years
Parking Spaces: 239 (5.43/1,000 SF) Option Periods: 3, 5-Year Options
$.50 PSF Every 5 Years in Base
Investment Highlights Rental Increases:
Term and Option Periods
• New, 15-Year Lease Roof & Structure: Landlord
Hobby Lobby located at 1995 West 49th Street in Hialeah has a
Rent Commencement: 3/28/2016
brand new, 15-year with over 13 years remaining.
Lease Expiration: 3/31/2031
• Renewal Options and Rent Increases
There are three, five-year renewal options. Rent increases $0.50
per square foot every five years in base term and option periods.
• Brand New Location
This is a brand new location; construction completed in 2016. Base Term Annual Rent PSF Cap Rate
• Site 3/28/2016-3/31/2021 $791,820 $18.00 5.50%
The property consists of two parcels totaling approximately 3.34 4/1/2021-3/31/2026 $813,815 $18.50 5.66%
acres. The property is an outparcel to Westland Mall, anchored by 4/1/2026-3/31/2031 $835,810 $19.00 5.81%
Macy’s, Sears and JCPenney, and brings in more than $500 PSF in
sales. It is located directly off Palmetto Expressway which has a
daily traffic count of approximately 243,000 vehicles, and on 49th Option Periods Annual Rent PSF Cap Rate
Street, with 51,000 vehicles daily.
4/1/2031-3/31/2036 $857,805 $19.50 5.97%
• Prominent High-Profile Location
Located at the intersection of Palmetto Expy and 49th Street, and 4/1/2036-3/31/2041 $879,800 $20.00 6.12%
located in one of the cities with the highest population density in 4/1/2041-3/31/2046 $901,795 $20.50 6.27%
Florida – with over 200,000 within 3 miles.
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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.
TENANT OVERVIEW
#106 on Forbes
2016 List of
America’s
Largest Private
Companies
Hobby Lobby Stores, Inc. owns and operates a chain of arts and craft stores in
the United States. The company provides products under various categories
that include home decor and frames, crafts and hobbies, scrapbook and paper 750+
crafts, fabric and sewing products, yarn and needle art products, beads and LOCATIONS
jewelry, baking and party supplies, floral and wedding supplies, wearable arts,
seasonal and novelty products, and gift cards. It also sells products online.
Hobby Lobby Stores, Inc. was founded in 1972 and is based in Oklahoma HEADQUARTERED IN
City, Oklahoma. Today, with more than 750 stores, Hobby Lobby is the largest
privately owned arts-and-crafts retailer in the world with approximately
Oklahoma City
32,000 employees and operating in 47 states.
APPROXIMATELY
Hobby Lobby opened 56 new stores in 2016. As the world’s largest privately
owned arts and crafts retailer, Hobby Lobby continues to increase its retail
footprint across the country. Plans are underway to open 60 new locations and
32,000
hire 1,700 to 2,500 new employees. EMPLOYEES
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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.
TENANT OVERVIEW 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.
LEASE ABSTRACT
Lessor shall maintain and repair, at Lessor’s sole expense, in a good, commercially reasonable manner and condition in accordance
with applicable Law the following (collectively, “Lessor’s Maintenance”): (i) the exterior of the Premises, including, but not
limited to, the guttering, downspouts, and exterior paint (Lessor’s painting scheme shall be subject to Tenant’s approval, not to
Lessor’s
be unreasonably withheld); (ii) the structural components of the Premises (including the Premises); (iii) the roof system of the
Maintenance
Premises (including, but not limited to, the roof structure, roof membrane, and roof access); (iv) the load bearing walls, slab, and
foundation system of the Premises; and (v) the water, sewer, and other utility lines, ducts, and conduits serving the Premises that
are outside the Premises.
Beginning on the Commencement Date, Tenant shall maintain and repair, at Tenant’s sole expense, in a good, commercially
reasonable manner and condition in accordance with applicable Law the following (collectively, “Tenant’s Maintenance”): (i) the
Tenant’s interior of the Premises; (ii) the heating and air conditioning equipment serving the Premises (the “HVAC”); (iii) the plumbing
Maintenance components serving the Premises that are located in the interior of the Premises; (iv) the electrical components serving the
Premises that are located in the interior of the Premises; (v) the water, sewer and other utility lines serving the Premises that are
located in the interior of the Premises; (vi) the doors, windows and plate glass located in the Premises.
Taxes Tenant shall reimburse Lessor for 100% of the taxes attributable to the Premises
Tenant shall maintain on the Premises (collectively, the “Tenant’s Insurance”): (i) all-risk (special form) commercial property
insurance (including coverage for wind/windstorm) on a primary and non-contributory basis with limits sufficient to replace
one hundred percent (100%) of the Premises improvements and the Tenant Common Area improvements (“Tenant’s Property
Insurance Insurance”); (ii) commercial general liability insurance against claims for bodily injury and property damage (by way of a
combination of commercial general liability coverage and excess umbrella coverage), with a combined single limit of not less
than $3,000,000 (“Tenant’s Liability Insurance”); (iii) property insurance covering Tenant’s Personal Property; and (iv) workers’
compensation insurance in an amount required by Law.
If the replacement of any Capital Improvement for which Tenant is required to maintain under this Lease (excluding Tenant’s
Personal Property) is necessary in the last five (5) years of the Term, and provided that Lessor shall have concurred in writing
Replacement with the feasibility and necessity of any such proposed replacement, Lessor shall reimburse Tenant for the unamortized costs of
of Capital such replacement as follows: the cost of the Capital Improvement replacement shall be amortized on a straight-line basis over
Improvements in its useful life and Tenant’s contribution towards such Capital Improvement replacement shall only apply to that portion of those
Last Five Years of costs applicable through the termination of this Lease with Lessor reimbursing Tenant for the costs applicable to the period after
Term termination of this Lease (i) upon Tenant’s election to replace the Capital Improvement if such election is made during the last
Renewal Term; or (ii) if such Capital Improvement replacement is made prior to the last Renewal Term, upon receipt of Tenant’s
election to not exercise the next Renewal Term.
Utilities Tenant shall pay all charges for Tenant’s Utilities usage during Tenant’s occupancy of the Premises.
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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.SITE PLAN 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.
SURROUNDING AREA
McDonald’s
243,000
Daily
Outparcel to
the Westland
Mall - Click
Here to View 49TH Street
ay
Website
ressw p
tto Ex
51,000
Palme
Daily
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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.McDonald’s SURROUNDING AREA
51,000
Daily
Red
Ro
ad
49TH Street
21,000
Daily
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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.SURROUNDING AREA
243,000
Daily
Ok
ee
ch
ob
ee
Ro
a d
Palmetto Expressway
65,000
Daily
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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.LOCATION HIGHLIGHTS
Location Highlights
• Surrounding National Retailers Include Walmart Supercenter,
Publix, Staples, Marshalls, Home Depot, Bed Bath & Beyond,
Target, Lowe’s, Burlington, Old Navy, Ross, Michael’s, Office
Depot, LA Fitness, Pet Supermarket, Bank of America, Aldi,
Walgreens, McDonald’s, CVS, Starbucks, Dunkin Donuts, Red
Lobster and Many More
• Located on 49th Street, with a Daily Traffic Count of More Than
51,000
• Located Between Palmetto Expressway, with a Traffic Count
of More Than 243,000 Vehicles Per Day, and Red Road with
35,000 Vehicles Per Day
• Florida has No State Income Tax
• Population of Nearly 500,000 Within Five Miles
• Outparcel to Westland Mall, Which Features Over 100 Specialty
Stores, Food and Entertainment, is anchored by Macy’s, Sears
and JCPenney, and brings in more than $500 PSF in sales
• Three Miles from Hialeah Hospital and Hialeah Park Racing &
Casino
• Four Miles from Miami-Dade College North Campus
• Eight Miles from Miami International Airport
• Within Close Proximity to the University of Miami, Downtown
Miami and American Airlines Arena
• Hialeah is the Sixth Largest Municipality in Florida, Serving
Over 224,000 Residents
• Part of the Miami MSA, Which has a Combined Population of
More Than 5.5 Million People
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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.LOCAL & REGIONAL MAPS
Click to View in
Google Maps
Or in Google
Street View
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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.LOCATION OVERVIEW
Hialeah, Florida | Miami-Dade County | Miami MSA
Hialeah is the sixth largest municipality in Florida, serving over Downtown Miami, the Civic Center is a major center for hospitals,
224,000 residents living in approximately 20 square miles. Located research institutes, medical centers and biotechnology industries.
in Miami-Dade County, Hialeah’s vibrant community is viewed as For over 20 years, the Port of Miami, known as the “Cruise Capital
an American industrial city that continues to grow. Hialeah is one of the World”, has been the number one cruise passenger port in the
of the largest areas for employment and economic development world. It accommodates some of the world’s largest cruise ships
in Miami-Dade County. A myriad of mom and pop stores which and operations, and is the busiest port in both passenger traffic
productively compete against national retail and restaurant chains and cruise lines. Miami International Airport is the busiest airport
and franchises drive Hialeah’s economy. Most of the city’s chain- in Florida, and the largest gateway between the United States and
based restaurants and businesses are some of the top grossing Latin America.
stores in the nation.
Miami-Dade County’s main four sports teams are the Miami
Hialeah is part of the Miami metropolitan area, which includes Dolphins of the National Football League, the Miami Heat of the
Miami-Dade, Broward and Palm Beach counties, which has a National Basketball Association, the Miami Marlins of Major
combined population of more than 5.5 million people, ranked League Baseball, and the Florida Panthers of the National Hockey
seventh largest in the United States, and is the largest metropolitan League. As well as having all four major professional teams, Miami
area in the Southeastern United States. is also home to the Major League Soccer expansion team led by
David Beckham and Sony Ericsson Open for professional tennis.
Several large companies are headquartered in the Miami area.
Tourism is also an important industry. Along with finance and The area is also the home of many college sports teams. The two
business, the beaches, conventions, festivals and events draw over largest are the University of Miami Hurricanes, whose football team
38 million visitors annually into Miami-Dade County, from across plays at New Miami Stadium, and Florida International University
the country and around the world, spending $17.1 billion. Panthers whose football team plays at FIU Stadium.
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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.MARKET OVERVIEW
MIAMI-DADE
Miami-Dade County includes 35 incorporated towns and cities
and many unincorporated areas. The 2,400-square-mile county
extends from the Florida Everglades east to the Atlantic Ocean.
It is bordered to the north by Broward County and to the south
by Monroe County. The main portion of the city of Miami lies on
the shores of Biscayne Bay and is separated from the Atlantic
Ocean by barrier islands, the largest of which holds the city
of Miami Beach. The metro, with a population of roughly 2.7
million, is located entirely within Miami-Dade County. Miami
is the most populous city, with slightly more than 400,000
residents, followed by Hialeah and Miami Gardens.
METRO HIGHLIGHTS
BUSINESS-FRIENDLY ENVIRONMENT
The metro has no local business or personal income
taxes, which attracts businesses and residents to the
area.
INFRASTRUCTURE GATEWAY
Miami is a gateway for international trading activities
and immigration, connecting to ports to the south
and beyond.
MEDICAL COMMUNITY
The county contains the largest concentration of
medical facilities in Florida, which draws residents
needing services throughout the state.
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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.DEMOGRAPHICS
POPULATION 1 MILE 3 MILES 5 MILES
2010 Population 37,194 217,088 426,171
2016 Population 38,685 227,579 453,160
2021 Population 38,607 229,148 465,990
2016 Male Population 18,288 110,155 219,219 EDUCATION
2016 Female Population 20,397 117,424 233,941
2016 Median Age 45.9 43.6 40.9
RACE & ETHNICITY 1 MILE 3 MILES 5 MILES
American Indian, Eskimo 0.1% 0.1% 0.1%
Asian 0.5% 0.4% 0.8%
Black 2.1% 3.0% 13.5%
Hawaiian/Pacific Islander 0.0% 0.0% 0.0%
White 94.0% 92.4% 80.8%
Other 1.8% 2.6% 3.0%
Multi-Race 1.4% 1.6% 1.9% SPORTS
Hispanic Ethnicity 95.2% 94.2% 81.9%
Not of Hispanic Ethnicity 4.8% 5.8% 18.1%
HOUSEHOLD INCOME 1 MILE 3 MILES 5 MILES
2010 Avg Household Income $48,323 $47,174 $53,396
2016 Avg Household Income $45,769 $44,658 $51,482
2021 Avg Household Income $53,278 $51,601 $59,502
2010 Med. Household Income $34,792 $33,523 $37,455
2016 Med. Household Income $34,099 $32,369 $37,019
2021 Med. Household Income $39,647 $36,812 $42,384
2010 Per Capita Income $16,090 $15,111 $17,138 ARTS & ENTERTAINMENT
2016 Per Capita Income $15,161 $14,234 $16,453
2021 Per Capita Income $17,791 $16,517 $19,063
HOUSEHOLDS 1 MILE 3 MILES 5 MILES
2010 Households 12,327 68,880 135,700
2016 Households 12,752 71,811 143,649
2021 Households 12,838 72,720 148,274
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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services© 2017. All rights reserved.The Wolfe Retail Group of Marcus & Millichap specializes
in the sale of single-tenant properties and shopping
centers and has successfully assisted clients in selling
approximately 400 separate commercial properties with
a market value exceeding $1.25 billion. Having closed
sales in more than 40 states, our track record is evidence
that we are one of the premier brokerage teams in the
United States.
With our experience and background in various fields
such as law and finance, we have proved to be invaluable
to our clients, earning their trust and exceeding their The Wolfe
expectations while best assisting them in their real estate Retail Group
transactions. has sold approx.
400 properties
For more about the Wolfe Retail Group of Marcus & in more than 40
Millichap, or to view all of our available listings, visit states
www.WolfeRetailGroup.com
About Marcus & Millichap
Marcus & Millichap (NYSE: MMI) has established itself as a leading and expanding investment real estate company with nearly 1,500 brokers in
78 markets throughout the United States and Canada. The foundation of our investment sales is the depth of our local market knowledge. Our 44-
year history of maintaining investor relationships in local markets enables us to be the best information source and transaction service provider
in North America.Subject Property
Barry M. Wolfe Alan Lipsky
Senior Managing Director Investments Vice President Investments
Barry.Wolfe@marcusmillichap.com Alan.Lipsky@marcusmillichap.com
(954) 245-3493 (954) 245-3595
Evan Whelan Angelica Linares Catie Jackson
Associate Transaction Coordinator Marketing Coordinator
Evan.Whelan@marcusmillichap.com Angelica.Linares@marcusmillichap.com Catherine.Jackson@marcusmillichap.com
(954) 245-3487 (954) 245-3416 (954) 245-3592You can also read
