BLOCKBUSTER | Corporate Sale-Leaseback | Greenville, SC
Subject Property
New Corporate Sale-Leaseback
25 Stand Alone Stores Available Throughout the Southeastern U.S.
BLOCKBUSTER
BLOCKBUSTER
Video
S Pleasantburg
Dr, Greenville,
3151300
Greenville
Blvd. SE, Greenville,
NC SC
$740,000| 10% CAP | 6,200 SF | $119 PSF
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Priced Well Below Replacement Cost
Brand New 10-Year Corporate Sale-Leaseback with BLOCKBUSTER Inc. (NYSE: BBI)
BLOCKBUSTER Inc.: 6,000+ Stores Worldwide | Revenues $4.6+ Billion in January 2010
Strategically Located Off Interstate 85 – Traffic Count: 95,700+ Cars / Day
Across From Home Depot, Bloom Grocery, Bi-Lo, CVS, Advance Auto
Average HH Income (1-Mile): $72,821 2009 U.S. Census
Greenville, SC: Over 100 Fortune 500 Companies | Highest Concentration of Intl. Investment Capital in U.S.
Exclusive Listing Agents: Bob Moorhead | Joe Caputo
212.686.0079 | joe@exp1031.com | www.exp1031.com
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
In association with South Carolina Broker of Record: Marc Liles | License # 73130
BLOCKBUSTER | Corporate Sale-Leaseback | Greenville, SC
1300 S. Pleasantburg Dr., Greenville, SC
INTERSECTION OF S PLEASANTBURG RD AT MAULDIN DR
EXP Realty Advisors and Retail Resource Group as exclusive advisors are pleased to present for sale a single
tenant corporate sale-leaseback BLOCKBUSTER. This offering provides investors the unique opportunity of
owning net leased real estate, priced below the building’s replacement cost, with a double digit investment yield
and potential upside in the event BLOCKBUSTER were to vacate.
List Price:
$740,000
CAP Rate (Existing):
10%
Building Area:
6,200 + SF
This location is being sold as a part of a 25 store offering which can be purchased individually or as a portfolio.
For additional information on other available BLOCKBUSTER properties please visit www.exp1031.com.
Building Price / SF:
$119 + PSF
IMMEDIATE TRADE AREA
Land Area:
0.94 + Acres
The subject property is strategically at the southwest corner of S. Pleasantburg Rd. and Mauldin Dr. along
Interstate 85. Traffic counts are in excess of 167,000 cars per day. Its proximity to Interstate 85 make this site
accessible to not only Greenville, South Carolina residents, but to all of the other outlying residents as well –
including the high income demographic of Augusta Street just minutes from the subject property. Home Depot is
directly across from the Blockbuster site. Other tenants at this intersection include Bi-Lo, CVS, Dollar General,
Advanced Auto, CITGO Jack in the Box, Bloom Grocery Store and Quality Inn & Suites. According to the 2009 US
Census, Average HH Income’s exceed $72,000 per year within a 1-mile radius.
Land Price / SF:
$18 + PSF
Year Built:
1988
Ownership:
Fee Simple
GREENVILLE, SC
Located in the beautiful foothills of the Blue Ridge Mountains, Greenville sits in the northwestern corner of South
Carolina about 20 miles west of where Interstate 85 crosses Interstate 26. The city is part of an eight county CSA
commonly referred to as the “Upstate”, and is centrally situated between two of the largest cities in the
Southeast, Charlotte and Atlanta. It is currently the fastest growing city in the state and has become one of the
most rapidly growing areas in the country. 2008 statistics show that Greenville County is South Carolina’s most
populous county with more than 350,000 residents and approximately 56,000 of those residents live within the
Greenville city limits. The City of Greenville ranks 12th in the state for cities with 5,000 or more population. The
city's official population estimate is 84,986 residents (July 2009). The Greenville Metro Area includes 183,000
people.
With more than 250 international firms and over 100 Fortune 500 companies, Greenville boasts the highest
international investment per capita in the nation and is considered to be the economic center of the Upstate. The
city has annexed over 1,700 acres of development property since 2002, including both private and public projects
such as the Millennium Campus and the International Center for Automotive Research, which continues to build
the city’s reputation as a business and high-tech manufacturing center.
LEASE OVERVIEW
Base Rent:
$74,000 / Year
Annual Rental Rate:
$12 PSF
Rent Commencement: Close of Escrow
BLOCKBUSTER
Primary Term:
10 Video
Years*
315 Greenville
Blvd.
SE, Greenville,
Options to
Renew:
2, 5-Year NC
Rent Increases:
10% Every 5 Yrs.
Tenant:
BLOCKBUSTER Inc.
Lease Type:
Absolute NNN
* Tenant has a right to terminate their lease after year 5
COPYRIGHT © 2010. ALL USE, DISCLOSURE AND/OR REPRODUCTION NOT SPECIFICALLY AUTHORIZED IS PROHIBITED. ALL RIGHTS RESERVED. Retail Real Estate Group dba Retail
Resource Group and EXP Realty Advisors (“Agent”) has presented this confidential Investment Memorandum to assist the recipient in evaluating the “Property” and it is intended for
your use only. This confidential material contains brief, selected information pertaining to the Property and shall not be considered all-inclusive or unchanged since the date of
preparation. No warranty as to the accuracy or completeness is expressed or implied. The information has been received from sources believed to be reliable but is not guaranteed.
Agent disclaims all liabilities in connection with any inaccuracies or incompleteness. The Buyer should independently verify each item of information and have the same reviewed by its
tax advisor and/or legal counsel. The Buyer agrees that (a) the materials are of a highly confidential nature and will be held in the strictest confidence or shall be returned to Agent upon
request; (b) the Buyer shall not contact any property manager, employee or tenant of the Property regarding the enclosed materials or the Property, without prior approval of Agent;
and (c) the Buyer understands and agrees that Agent represents the seller and not the Buyer. Neither the seller nor Agent shall have any obligation to pay any commission, finder’s fee,
or other compensation to any broker or other person dealing with the Buyer. The Buyer may provide information to persons retained for the purpose of evaluating the Property after
first obtaining a signed confidentiality agreement from such persons to keep such information confidential. The Buyer shall defend, indemnify and hold harmless the seller, Agent and its
This information
has beencosts
obtained
from sources
reliable,
however
Advisors,
Inc. norfinder’s
Retail fee
Resource
affiliates from and against any claims, demands,
damages, liabilities,
or expenses,
includingdeemed
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attorneys’
fees,neither
relatingEXP
to anyRealty
claim for
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or otherGroup guarantee, warranty or represent its accuracy.
compensation by any broker or other person dealing with the Buyer. The Property is being sold on an “as-is, where-is” and “with all faults” basis.
BLOCKBUSTER | Corporate Sale-Leaseback | Greenville, SC
BLOCKBUSTER Video
315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
Subject Property
BLOCKBUSTER | Corporate Sale-Leaseback | Greenville, SC
BLOCKBUSTER Video
315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
Subject Property
BLOCKBUSTER | Corporate Sale-Leaseback | Greenville, SC
Tenant Overview
Founded:
Headquarters:
BLOCKBUSTER INC.
1985
Dallas, TX
Locations:
2009 Revenue:
6,000+
$4+ Billion
www.blockbuster.com
BLOCKBUSTER Inc. (NYSE: BBI, BBI.B), is a leading global provider of in-home movie and game entertainment with over 6,000 stores
throughout the Americas, Europe, Asia and Australia. The Company, one of the strongest and most recognizable entertainment
brands in the world.
BLOCKBUSTER's stores are a ubiquitous neighborhood feature attracting nearly 47 million customers annually. Company-operated
stores are open 365 days a year generally from 10 a.m. to midnight. Merchandise selection, quantity and formats are customized at
the store level to meet the needs and preferences of local customers.
File Photo
As the media entertainment industry has evolved, so too has BLOCKBUSTER. The Company is no longer just a chain of video stores.
While transforming and diversifying its store-base continues as a company priority, BLOCKBUSTER now offers convenient access to
media entertainment any where and any way consumers want it – whether in stores, by mail, through vending / kiosks or digitally.
BLOCKBUSTER Video
BLOCKBUSTER is the only company able to provide convenient access to media entertainment across multiple channels, recognizing
that the same customer may choose different ways to access media entertainment on different nights. Whether a customer selects
traditional stores, by-mail, vending or digital, BLOCKBUSTER is uniquely positioned as the only provider to deliver entertainment
315 Greenville
content across all channels.
On November 1, 2006, the Company introduced BLOCKBUSTER Total Access™, a movie rental program that gives online customers
the option of exchanging their DVDs through the mail or returning them to a nearby participating BLOCKBUSTER® store in exchange
for free in-store movie rentals. With BLOCKBUSTER Total Access, customers no longer have to choose between renting online or
renting in-store, and they never have to be without a movie. BLOCKBUSTER has the largest in-store presence of any company in the
movie rental business, a growing online presence, and the capability -- currently, the only capability in the marketplace -- to integrate
bricks-and-mortar with online.
Blvd. SE, Greenville, NC
File Photo
The Company continues to broaden its points of presence. In 2008 BLOCKBUSTER announced an alliance with NCR (NYSE: NCR) for
vending, providing customers with a new and convenient option for accessing media entertainment. There are now over 2,000
BLOCKBUSTER Express branded kiosks in the market today.
Thinking beyond the box - in the first half of 2009 the Company announced strategic alliances with TiVo (NASDAQ: TIVO), Samsung
and Motorola (NYSE: MOT). BLOCKBUSTER anticipates similar opportunities to position the Company as a leader in the distribution of
digital entertainment.
File Photo
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
BLOCKBUSTER | Corporate Sale-Leaseback | Greenville, SC
Aerial Photograph
BLOCKBUSTER Video
315 Greenville Blvd. SE, Greenville, NC
Frontage Rd
I-85 Traffic:
95,700+
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent
its accuracy.
Cars/Day
BLOCKBUSTER | Corporate Sale-Leaseback | Greenville, SC
Aerial Photograph
BLOCKBUSTER Video
315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
BLOCKBUSTER | Corporate Sale-Leaseback | Greenville, SC
Location Map
BLOCKBUSTER Video
315 Greenville Blvd. SE, Greenville, NC
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.
BLOCKBUSTER | Corporate Sale-Leaseback | Greenville, SC
Demographic Snapshot
Category
1-Mile
3-Mile
5-Mile
Total Population
6,117
44,578
122,329
Male Population
45.4%
46.6%
48.0%
Female Population
54.6%
53.5%
52.0%
40.7
40.2
38.0
1,947.0
1,576.6
1,557.6
3,630
57,600
149,155
250
2,943
9,150
Median HH Income
$43,515
$43,121
$43,111
Per Capita Income
$29,926
$30,075
$25,382
Average HH Income
$72,821
$69,043
$57,556
Total Households
2,343
19,305
52,021
Average Household Size
2.61
2.30
2.27
-0.6%
2.7%
5.5%
Owner Occupied Housing Units
63.7%
57.6%
50.4%
Renter Occupied Housing Units
28.6%
32.8%
38.9%
Vacant Housing Units
7.7%
9.5%
10.7%
Population:
Median Age
Population Density (per sq. mi.)
Employees
Establishments
Income:
BLOCKBUSTER Video
315 Greenville Blvd. SE, Greenville, NC
Households:
Household Growth 1990 - 2000
Housing:
This information has been obtained from sources deemed reliable, however neither EXP Realty Advisors, Inc. nor Retail Resource Group guarantee, warranty or represent its accuracy.