LADT - TRACTOR SUPPLY CO.
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LADT ADVISORY
TEAM
RENDERING
S I N G L E -T E N A N T O F F E R I N G
TRACTOR SUPPLY CO.
BELEN (ALBUQUERQUE MSA), NM
15-YEAR NNN LEASE, UPGRADED 61,614 RESIDENTS IN NEXT TO 24-HR. WALMART
BLOCK CONSTRUCTION PRIMARY TRADE AREA WITH 27,470 CARS/DAY
Amenities Aerial
DEL RIO PLAZA
E REINKEN AVE
BELEN MIDDLE SCHOOL
525 STUDENTS
CENTRAL ELEMENTARY
27,470 CPD 197 STUDENTS
N MAIN ST
25
BELEN HIGH SCHOOL
1,038 STUDENTS
RESIDENTIAL
COMMUNITIES 25 BELEN REGIONAL
61,614 RESIDENTS IN AIRPORT
PRIMARY TRADE AREA
2
East Facing
27,470 CPD
25
RESIDENTIAL
COMMUNITIES
61,614 RESIDENTS IN
PRIMARY TRADE AREA
3
South Facing
DEL RIO PLAZA
BELEN REGIONAL
AIRPORT
BELEN HIGH SCHOOL
1,038 STUDENTS
27,470 CPD
25
RESIDENTIAL
COMMUNITIES
61,614 RESIDENTS IN
PRIMARY TRADE AREA
4
North Facing
27,470 CPD
25
RESIDENTIAL
COMMUNITIES
61,614 RESIDENTS IN
PRIMARY TRADE AREA
5
Offering Summary
LEASE SUMMARY
LEASE TYPE NNN
ROOF & STRUCTURE Landlord Responsible
TENANT Tractor Supply Co.
LEASE TERM 15 Years
RENT COMMENCEMENT Est. 3/20/2020
I-25 BYPASS & DON FELIPE RENT EXPIRATION 3/30/2035
BELEN, NM INCREASES 5% Every 5 Years & Renewal Options
OPTIONS Four, 5-Year
$ 5 , 2 0 3 , 00 0
CAP RATE: RETURN ATTACHED CA
GROSS LEASABLE AREA LOT SIZE
19,097 SF 3.595 Acres
YEAR BUILT OWNERSHIP
2019 FEE SIMPLE
6
Investment Highlights
SECURE INCOME STREAM
• 15-Year NNN Lease with Minimal Landlord Responsibilities
• 5% Increases Every 5 Years
• Corporate Guaranty, $7.73B in Revenue with 1,700+ Locations
• New 2019 Block Construction, 15-Yr. Roof Warranty
GROWING TRADE AREA IN ALBUQUERQUE MSA
• Serving 61,614 Residents in Primary Trade Area
• Part of Albuquerque MSA, 30 Minutes to Downtown Albuquerque
• Highly Visible to 27,470 Cars/Day at Intersection
• Next to 24-Hr. Walmart Supercenter, Close Proximity to Dozens of
National Tenants
STRONG MARKET FUNDAMENTALS
• Minutes to BNSF Rail Yard, One of the Largest Employers in Valencia County
• Other International Manufacturers Nearby Include: Clariant, Aristech,
Cemco, Sisneros Bros. and New Mexico Travertine
• Surrounded by Several K-12 Schools with 3,921 Students Combined
CLOSE PROXIMITY
• Direct Access to I-25, the Main North-South Artery in New Mexico
• 8 Miles to Belen Regional Airport, U.S. Air Force Training Post
• Belen is the 2nd Most Populous City in Valencia County
7
Tenant Overview
Tractor Supply Company is the largest operator of rural lifestyle retail
stores in America. TSC stores are located primarily in towns outlying
major metropolitan markets and in rural communities. The typical
Tractor Supply store has about 15,500 square feet of selling space
inside, with a similar amount of outside space.
As of June 29, 2019, the Company operated 1,790 Tractor Supply
stores and employs more than 28,000 team members and is
headquartered in Brentwood, Tenn. Its stock is traded on the NASDAQ
exchanging under the symbol “TSCO.” The company operates its retail
stores under the Tractor Supply Company, Del’s Feed & Farm Supply,
and HomeTown Pet Names. It also operates an e-commerce website,
TractorSupply.com. The company was founded in 1938 as a mail order
catalog business offering tractor parts to America’s family farmers.
Today Tractor Supply is the leading edge retailer with trailing 12-month
revenues of approximately $7.73 billion.
TSC’s products include: clothing, equine and pet supplies, tractor/
trailer parts and accessories, lawn and garden supplies, sprinkler/
HEADQUARTERS LOCATIONS FOUNDED irrigation parts, power tools, fencing, welding and pump supplies,
BRENTWOOD 1,790+ 1938 riding mowers and more.
TENNESSEE IN 49 STATES
TRACTORSUPPLY.COM
TOTAL REVENUE STOCK SYMBOL EMPLOYEES
$7.73B TSCO 28,000
TRAILING 12 MONTHS NASDAQ
8
Lease Summary
TENANT RESPONSIBILITIES LANDLORD RESPONSIBILITIES
MAINTENANCE & REPAIRS MAINTENANCE & REPAIRS
Tenant shall maintain the interior, non-structural portions of the premises in good Landlord shall remain in good condition and repair (including any replacements
condition and repair, including all glass windows and doors, except when damage is thereof) the roof, gutters, drainage facilities, down spouts, the integrity of the structure
caused by latent defects, the interior of the Building, HVAC, electrical and plumbing and surface of all paved areas including sealing and striping (except for Fenced Outdoor
systems and equipment and all utility lines serving the Building that are within the Display Area and Permanent Trailer and Equipment Display Area). Additionally the exterior
Building, provided neither Landlord nor Tenant shall have any repair or replacement utility lines, and pipes to the point of entry, the base of the Tenant’s free-standing pylon
obligations during the last 3 years of the Term. Tenant shall also maintain the parking and/or monument sign and the electrical lines servicing same, floor slabs, exterior walls,
lot, clearing snow and ice from parking lot, landscaping maintenance and repair, foundation, footings, and all structural portions of the Demised Premises.
painting of the exterior of the Building and building signs.
INSURANCE
INSURANCE Landlord shall carry and maintain Commercial General Liability Insurance.
Tenant shall carry and maintain at its sole cost and expense Commercial General
Liability and Property Insurance.
TAXES
Tenant shall pay to the applicable taxing authority all real estate taxes lawfully imposed.
UTILITIES
Tenant shall pay the service charges for all utilities used by it in the Demised Premises.
ASSIGNMENT & SUBLETTING
Tenant may sublet the Demised Premises or assign its interest upon notifying the
Landlord with the name of the subtenant or assignee within 15 days of any subletting
or assignment. Following any subletting or assignment, Tenant shall not be relieved of
any obligations under the Lease and shall remain primarily liable.
9
Site Plan
DISPLAY
LOT
PROPOSED
POND
25
ADT LOT SIZE PARKING
27,470 3.595
Acres
68
Spaces
10ALBUQUERQUE, NEW MEXICO
DUKE CITY
Albuquerque, also known locally as Duke City and abbreviated as ABQ, is the most populous city in the U.S. state of New Mexico and the 32nd-most populous city in the United States.
The city serves as a southwestern commercial hub, with BNSF Railroads rail service, air cargo shipped from the Albuquerque International Sunport, as well as the commuter train,
the Rail Runner, spanning from Belen to Santa Fe. Albuquerque’s economic environment is experiencing growth due in part to the city being the center of the New Mexico Technology
Corridor. Due to recent business developments and Albuquerque’s great quality of life, Forbes Magazine named the city #1 in its survey of the best places in the USA for Business and
Careers.
ECONOMY EDUCATION
The largest employers located in Albuquerque include Kirtland Air Force The city is home to the University of New Mexico, Central New Mexico
Base, the University of New Mexico and Sandia National Laboratories. Community College, Kirtland Air Force Base, Sandia National Laboratories,
Recent economic news includes Comcast selecting Albuquerque for a the National Museum of Nuclear Science and History, Lovelace Respiratory
500-employee bilingual customer support center; Bendix/King a Honeywell Research Institute, Presbyterian Health Services, and Petroglyph National
aerospace company, also located its headquarters in Albuquerque, with 140 Monument. Albuquerque is also New Mexico’s medical hub, hosting
quality jobs; General Mills finished a $100 million expansion of its plant with numerous state-of-the-art medical centers. Some of the city’s top hospitals
more than 100 new employees; Lowes Home Improvement opened a $15 include the VA Medical Center, Presbyterian Hospital, Presbyterian Medical
million customer support center in 2012. Services, Heart Hospital of New Mexico, and Lovelace Woman’s Hospital.
TRANSPORTATION ATTRACTIONS
Pan-American Freeway: More commonly known as “I-25”, it is the main Albuquerque is also the home of the annual International Balloon Fiesta,
north–south highway on the city’s eastern side of the Rio Grande. It is also the world’s largest gathering of hot-air balloons. Additionally, one of the
the main north–south highway in the state by connecting Albuquerque with major art events in the state is the summertime New Mexico Arts and
Santa Fe and Las Cruces, and a plausible route of the eponymous Pan Crafts Fair, a nonprofit show exclusively for New Mexico artists and held
American Highway. The state owns most of the city’s rail infrastructure annually in Albuquerque since 1961. According to the Trust for Public
which is used by a commuter rail system, long distance passenger trains, Land, Albuquerque has 291 public parks as of 2017, most of which are
and the freight trains of the BNSF Railway. administered by the city Parks and Recreation Department. The total
amount of parkland is 42.9 square miles (111 km2), or about 23% of the
city’s total area—one of the highest percentages among large cities in the
U.S. About 82% of city residents live within walking distance of a park.
11Demographics
POPULATION 3 MI 5 MI 10 MI
2018 Total 10,790 22,664 61,614
Total Daytime Population 10,624 19,785 54,684 SITE IS 30 MINUTES
TO ALBUQUERQUE
HOUSEHOLDS 3 MI 5 MI 10 MI
2010 Total Households 4,201 8,891 22,483
2018 Total Households 4,203 8,900 22,762 61,614
2023 Total Households 4,204 8,902 22,878
22,664
10,790
INCOME 3 MI 5 MI 10 MI
2018 Median Income $40,947 $43,696 $46,284
2023 Average Income $45,208 $49,765 $54,542
Median Income Change 2018-23 10.4% 13.9% 17.8% $40,947
$43,696
Population (2018)
AGE/HOME VALUE 3 MI 5 MI 10 MI
$46,284 Average. Household Income (2018)
2018 Est. Median Age 38.2 39.9 38.5
19 and Under 26.5% 25.8% 26.8%
2018 Est. Median Home Value $120,853 $122,828 $134,774
2018 Est. Average Home Value $153,141 $150,029 $163,195
27,470 26.9%
EDUCATION 3 MI 5 MI 10 MI TOTAL VEHICLES PER DAY ON INDIVIDUALS WITH A BACHELOR’S
SURROUNDING ROADWAYS DEGREE OR HIGHER WITHIN 3 MILES
Bachelor’s Degree or Higher 26.9% 26.2% 25.9%
22,664 $40,947
2018 TOTAL POPULATION 2018 AVERAGE HOUSEHOLD
CONSENSUS WITHIN 5 MILES INCOME WITHIN 3 MILES
$153,141 $45,208
2018 AVERAGE HOME VALUE 2023 AVERAGE INCOME
WITHIN 3 MILES PROJECTION WITHIN 3 MILES
12CONFIDENTIALITY DISCLAIMER
The information contained herein, including an pro forma income and expense information (collectively, the “Information”) is based upon assumption and projections
and has been compiled or modeled from sources we consider reliable and is based on the best available information at the time the brochure was issued. However, the
Information is subject to change and is not guaranteed as to completeness or accuracy. While we have no reason to believe that the Information set forth in this brochure,
underwriting, cash flows, valuation, and other financial information (or any Information that is subsequently provided or made available to you) contains any material
inaccuracies, no representations or warranties, express or implied, are made with respect to the accuracy or completeness of the Information. Independent estimates of
pro forma income and expenses should be developed before any decision is made on whether to invest in the Property. Summaries of any documents are not intended
to be comprehensive or all-inclusive, but rather only outline some of the provisions contained therein and are qualified in their entirety by the actual document to which
they relate. You understand that the Information is confidential and is furnished solely for the purpose of your review in connection with a potential investment in the
Property. You further understand that the Information is not to be used for any purpose or made available to any other person without express written consent of Colliers
International. This offering is subject to prior placement and withdrawal, cancellation, or modification without notice. This publication is the copyrighted property of
Colliers International and/or its licensor(s). ©2018. All rights reserved.
13RENDERING
LADT
Colliers International
ADVISORY
TEAM
Thomas T. Ladt
+1 760 930 7931
thomas.ladt@colliers.com
CA License No. 01803956
Broker of Record
Tom Jones
NM License No. 37218
5901 Priestly Dr, Suite 100 Carlsbad, CA 92008PRINCIPAL CONFIDENTIALITY AGREEMENT
The undersigned Accepting Party (the “Accepting Party”) is interested in obtaining information regarding the property known as Tractor Supply Co. located at I-25 Bypass & Don Felipe,
Belen, NM (the “Property”) in order to evaluate the possible acquisition (the “Proposed Transaction”) of the Property by the Accepting Party.
Colliers International, Inc. (the “Listing Broker”) will not deliver to Accepting Party any information with respect to the Property which may be confidential and/or proprietary in nature unless
and until Accepting Party executes and delivers this Principal Confidentiality Agreement (the “Agreement”).
By executing and delivering this Agreement and accepting the Evaluation Materials (as hereinafter defined), Accepting Party hereby agrees as follows:
1. Confidentiality. Any information with respect to the Property (collectively, the “Evaluation Materials”) provided to Accepting Party by Owner, owner’s representative and/or Listing
Broker and/or any of their respective consultants, agents or employees (collectively, the “Seller Parties”) will be used solely for the purpose of evaluating the possible acquisition of the
Property by Accepting Party, and will not be used or duplicated for any other purpose. Accepting Party shall keep all Evaluation Materials strictly confidential; provided, however, that
such Evaluation Materials may be delivered to such persons or entities who because of their involvement with the Proposed Transaction need to know such information for the purpose
of giving advice with respect to, or consummating, the Proposed Transaction (all of whom are collectively referred to as “Related Parties”); provided, however, that any such Related
Parties shall be informed by Accepting Party of the confidential nature of such information and shall be directed by Accepting Party (and Accepting Party shall cause such Related
Parties) to keep all such information in the strictest confidence and to use such information only in connection with the Proposed Transaction and in accordance with the terms of this
Agreement. Accepting Party will not communicate with tenants of the Property without the prior written consent of Owner or Owner’s Representative.
2. No Representations by Seller Parties. None of the Seller Parties make any representations or warranties as to the accuracy or completeness of the Evaluation Materials. Owner and
Owner’s Representative expressly disclaim any and all liability for representations or warranties, express or implied, contained in the Evaluation Materials, or in any other written or oral
communications transmitted or made available to Accepting Party by Seller Parties.
3. No Obligation to Sell. Owner is under no legal obligation of any kind whatsoever with respect to the Proposed Transaction by virtue of this Agreement, except for the matters specifically
agreed to herein.
4. Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of the State in which the Property is located which is applicable to contracts made and
to be performed wholly within such State.
ACCEPTED AND AGREED TO THIS _____________ DAY OF _____________, 2019
Signature: Title: Phone: Fax:
Name (Printed): Company: Email:
Please Email to Thomas Ladt: Ladt.AdvisoryTeam@colliers.com or Fax: +1 442 244 6015
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