Offering Memorandum Advance Auto Parts
Page 1
Property Listing
| Address, City, State
colliers DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts 3664 50th Street Lubbock, Texas 79413
Offering Memorandum
MEMPHIS AVENUE
50TH STREET
Investment Advisors
COLLIERS DALLAS PRIVATE CLIENT GROUP
Gavin Kam
Justin Engler
Senior Vice President
Senior Analyst
Jessica Oram
Mike Otillio
Marketing Coordinator Research Director www.colliers.com/dallas | Colliers
www.colliers.com/dallas International
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 2
Confidentiality Agreement The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Colliers International and should not be made available to any other person or entity without the written consent of Colliers International. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Colliers International has not 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 of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans
Investment Advisors
or 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; however, Colliers International has not verified, and will not verify,
Gavin Kam (214) 706.6030 [email protected]
any of the information contained herein, nor has Colliers International conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All
Justin Engler (877) 315-2311 [email protected]
potential buyers must take appropriate measures to verify all of the information set
Jessica Oram (214) 217.1272
forth herein. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT LISTING AGENT FOR MORE DETAILS.
[email protected]
Mike Otillio (214) 217-1232 [email protected]
4311 Oak Lawn Avenue, Ste 400 • Dallas, TX 75219 (214) 692-1100 • (214) 520-6777 Fax www.colliers.com.dallas
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 3
Table of Contents INVESTMENT OVERVIEW
4
LEASE INFORMATION
5
OFFERING SUMMARY
6
LOCATION OVERVIEW
7
AERIALS
8
LOCATION MAP
9
SITE PLAN
10
DISCLOSURE
11
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 4
Offering Summary pricing: Price
$1,299,000
Cap Rate
8.25%
Price / Sq. Ft.
$212.12 per Square Foot
Building Size
6,124 Square Feet
Land Size
28,314 Square Feet
loan summary: Loan Amount:
All Cash
Type
N/A
Terms
N/A
Interest Rate
N/A
Amortization Rate
N/A
ANNUALIZED OPERATING DATA: Base Rent
$107,164 Annual
Expenses
$0
Net Operating Income
$107,164
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 5
Investment Overview highlights • 15 Year Primary Term • Near the Intersection of 50th Street & Memphis Avenue • Lubbock is located in Northwest Texas with an estimated 2009 population of 218,265 • Home of Texas Tech University, which enrolls 28,000+ students The subject property fronts 50th street in Lubbock, just west of its intersection at Indiana Avenue. 50th street is a heavily traveled east/west commercial artery that connects Loop 288 and Highway 87. Directly across the street is Sutherland Lumber. Other national retailers near the property include Albertsons, Market Street, American Bank of Commerce and CVS. The population within a three mile radius exceeds 116,571. Property Name:
Advance Auto Parts Stores Inc.
Square Feet:
6,124 Square Feet
Acres:
0.65
Type:
Triple Net
Year Built:
2009
Location:
According to the 2000 U.S. Census,
the city population was 199,564, making it the 90th largest city in the United States and the 11th largest in Texas. The 2009 population was estimated to be 218,265. Lubbock County had an estimated 2009 population of 265,873.
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 6
Lease Information advance auto parts Tenant Name:
Advance Auto Parts
Lease Term:
15 Year Primary Term
With three, five (5) year renewal options
Lease Type:
Triple Net (NNN)
Years
Lease Rate:
Monthly
Annual
Sq. Ft. Rate
1 - 15 $ 8,930.83
$ 107,164
$ 17.50
Options:
Years
Monthly
Annual
Sq. Ft. Rate
First
16 - 20
$ 9,823.37
$ 117,880
$ 19.24
Second
21 - 25
$ 10,314.50
$ 123,774
$ 20.21
Third
26 - 30
$ 10,830.25
$ 129,963
$ 21.22
Property Taxes:
Tenant Responsibility
Property Insurance:
Tenant Responsibility
Roof/Structure:
Landlord Responsibility
Interior and Exterior:
Tenant Responsibility
TENANT INFORMATION Guarantor:
Advance Auto Parts
Market Capitalization:
3.91 Billion
Exchange:
NASDAQ
Stock Symbol:
AAP
Description:
Advance Auto Parts, Inc. (AAP), through its subsidiaries, operates as a retailer of automotive parts, accessories, and maintenance items to do-it-yourself and do-it-for-me customers in the automotive aftermarket industry. As of January 3, 2009, this segment operated 3,243 AAP stores in the United States, Puerto Rico, and the Virgin Islands; and 3,215 stores in the northeastern, southeastern, and Midwestern regions of the United States. Annual Revenue for the company exceeded $5.3 billiion in 2008.
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 7
Location Overview area Profile As of 2009, the estimated population of Lubbock was 218,265. Lubbock continues to grow, relying on the vast agricultural industry of the area as well as on a variety of manufacturing facilities. Lubbock, Texas (33º35’ N, 101º51’W) is located in northwest Texas. Considered to be at the center of the South Plains, the area is located between the Permian Basin to the south and the Texas Panhandle to the north. Lubbock’s official elevation is 3,256 feet. Lubbock was named after Thomas S. Lubbock, a former Texas Ranger and Confederate officer. His brother, Francis R. Lubbock, was the governor of Texas during the Civil War. The county of Lubbock was founded in 1876. The settlement that is the present-day city of Lubbock was not formed until late 1890. Two settlements within the county, Old Lubbock and Monterey, were combined to form the settlement of Lubbock. During the following year, the settlement of Lubbock was named the county seat for Lubbock County. The city was incorporated on March 16, 1909. Shortly after incorporation, rail service was established in Lubbock. As agriculture continued to grow within the region and as the railroads continued to expand, Lubbock became the marketing center of the region and earned the name “Hub of the Plains”. Lubbock continued to grow as the city’s opportunities increased. In 1925, Texas Technological College opened its doors, providing Lubbock with a major boost to its economy. While Lubbock felt the effects of the Great Depression, the city started to bounce back with the opening of two military training bases during World War II. After the war, Lubbock experienced a tremendous growth rate. During the ‘40s, Lubbock’s rate of growth was second nationally only to Albuquerque. Lubbock experienced its worst disaster on May 11, 1970, when a tornado, considered to be one of the strongest in recorded history, came through the center of town, wreaking havoc over three square miles of the city. Twenty-six people were killed and there was more than $135 million in damage. The city quickly repaired or replaced the damaged buildings. Part of this renovation included the construction of the Lubbock Memorial Civic Center, built as a memorial to those who died from this devastating tornado. As of 2009, the estimated population of Lubbock was 218,265 Lubbock continues to grow, relying on the vast agricultural industry of the area as well as on a variety of manufacturing facilities.
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 8
Location Map
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 9
UE INDIANA AVEN
QUAKER AV
ENUE
MEMPHIS AVENUE
Aerial View
50TH STREET
54TH STREET
MEMPHIS AVENUE
50TH STREET
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 10
Site Plan
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 11
Demographics Community Summary Prepared by Colliers Research
50th MemphisAve., Avenue, Lubbock, TX 79413 50th Street Atreet &&Memphis Lubbock, TX 79413 Site Type: Ring Summary
Latitude
33.548788
Longitude
-101.896394
Ring:
1.0 mile
2000
2008
2013
15,320
14,842
14,771
Households
6,560
6,531
6,567
Families
4,202
4,065
4,014
2.32
2.26
2.23
Owner Occupied HUs
4,234
4,286
4,188
Renter Occupied HUs
2,326
2,245
2,379
37.9
39.7
40.8
6,773
6,839
6,919
Population
Average Household Size
Median Age Total Housing Units Vacant Housing Units
213
308
352
Average Home Value
$80,256
$102,397
$108,533 -
Total Businesses
-
780
Total Employees
-
4,776
2000 Households by Income
-
2008
2013
Number
Percent
Number
Percent
Number
976
15.0%
689
10.5%
600
9.1%
1,170
17.9%
839
12.8%
664
10.1%
$25,000 - $34,999
914
14.0%
874
13.4%
781
11.9%
$35,000 - $49,999
1,282
19.7%
1,267
19.4%
1,116
17.0%
< $15,000 $15,000 - $24,999
Percent
$50,000 - $74,999
1,110
17.0%
1,282
19.6%
1,596
24.3%
$75,000 - $99,999
594
9.1%
837
12.8%
814
12.4%
$100,000 - $149,999
323
5.0%
529
8.1%
715
10.9%
$150,000 - $199,000
89
1.4%
96
1.5%
128
1.9%
$200,000+
66
1.0%
119
1.8%
155
2.4%
Median Household Income
$36,758
$45,309
$51,480
Average Household Income
$46,577
$57,326
$63,717
Per Capita Income
$19,905
$25,201 2000
Population by Age
$28,304 2008
2013
Number
Percent
Number
Percent
Number
860
5.6%
844
5.7%
842
5.7%
5 - 14
1,846
12.0%
1,568
10.6%
1,506
10.2%
15 - 19
1,054
6.9%
879
5.9%
799
5.4%
20 - 24
1,589
10.4%
1,028
6.9%
1,007
6.8%
25 - 34
1,758
11.5%
2,337
15.7%
2,052
13.9%
0-4
Percent
35 - 44
2,009
13.1%
1,655
11.2%
1,866
12.6%
45 - 54
1,809
11.8%
1,954
13.2%
1,850
12.5%
55 - 64
1,402
9.2%
1,625
10.9%
1,884
12.8%
65 - 74
1,496
9.8%
1,250
8.4%
1,260
8.5%
75 - 84
1,139
7.4%
1,180
8.0%
1,097
7.4%
359
2.3%
522
3.5%
607
4.1%
Number
Percent
Number
Percent
Number
Percent
White Alone
13,669
89.2%
12,638
85.2%
12,206
82.6%
Black Alone
451
2.9%
547
3.7%
596
4.0%
57
0.4%
63
0.4%
65
0.4%
136
0.9%
173
1.2%
196
1.3%
5
0.0%
6
0.0%
7
0.0%
Some Other Race Alone
817
5.3%
1,181
8.0%
1,435
9.7%
Two or More Races
186
1.2%
233
1.6%
266
1.8%
2,210
14.4%
3,081
20.8%
3,677
24.9%
85+
2000 Race and Ethnicity
American Indian Alone Asian Alone Pacific Islander Alone
Hispanic Origin (Any Race)
2008
2013
Data Note: Income is expressed in current dollars. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2008 and 2013 were effective as of July 1, 2008. Business data provided by Acxiom. Copyright 2008, all rights reserved. ©2008 ESRI
On-demand reports and maps from Business Analyst Online. Order at www.esri.com/bao or call 800-292-2224
Colliers International
| www.colliers.com/dallas
7/08/2009
Page 1 of 1
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 12
Demographics Community Summary Prepared by Colliers Research
50th Street&&Memphis MemphisAve., Avenue, Lubbock, TX 79413 50th Atreet Lubbock, TX 79413 Site Type: Ring Summary Population
Latitude
33.548788
Longitude
-101.896394
Ring:
3.0 mile
2000
2008
2013
116,550
116,571
117,202
Households
47,405
48,308
49,006
Families
28,875
28,603
28,497
Average Household Size
2.33
2.27
2.25
Owner Occupied HUs
26,515
27,562
27,180
Renter Occupied HUs
20,890
20,746
21,826
31.3
32.5
33.7
50,563
52,431
53,613
Median Age Total Housing Units Vacant Housing Units
3,158
4,123
4,607
Average Home Value
$91,740
$117,163
$124,560 -
Total Businesses
-
8,093
Total Employees
-
60,379
2000 Households by Income
-
2008
2013
Number
Percent
Number
Percent
Number
Percent
< $15,000
9,572
20.2%
7,529
15.6%
6,602
13.5%
$15,000 - $24,999
7,825
16.5%
5,978
12.4%
5,071
10.3%
$25,000 - $34,999
6,420
13.5%
5,809
12.0%
4,986
10.2%
$35,000 - $49,999
7,810
16.5%
7,680
15.9%
7,248
14.8%
$50,000 - $74,999
8,043
17.0%
8,887
18.4%
10,624
21.7%
$75,000 - $99,999
3,736
7.9%
6,497
13.5%
5,617
11.5%
$100,000 - $149,999
2,291
4.8%
3,410
7.1%
5,708
11.6%
$150,000 - $199,000
725
1.5%
1,032
2.1%
1,161
2.4%
$200,000+
965
2.0%
1,479
3.1%
1,984
4.0%
Median Household Income
$34,775
$44,287
$51,181
Average Household Income
$48,794
$61,149
$70,066
Per Capita Income
$20,030
$26,051 2000
Population by Age
$30,097 2008
2013
Number
Percent
Number
Percent
Number
0-4
7,356
6.3%
7,389
6.3%
7,459
Percent 6.4%
5 - 14
13,980
12.0%
12,711
10.9%
12,460
10.6%
15 - 19
11,219
9.6%
10,660
9.1%
10,304
8.8%
20 - 24
15,435
13.2%
13,621
11.7%
13,722
11.7%
25 - 34
15,455
13.3%
17,959
15.4%
16,616
14.2%
35 - 44
14,996
12.9%
12,908
11.1%
13,633
11.6%
45 - 54
13,668
11.7%
14,388
12.3%
13,944
11.9%
55 - 64
8,985
7.7%
11,082
9.5%
12,531
10.7%
65 - 74
7,758
6.7%
7,237
6.2%
7,723
6.6%
75 - 84
5,525
4.7%
5,734
4.9%
5,542
4.7%
85+
2,174
1.9%
2,884
2.5%
3,269
2.8%
Number
Percent
Number
Percent
Number
Percent
White Alone
95,333
81.8%
88,925
76.3%
85,633
73.1%
Black Alone
5,505
4.7%
6,544
5.6%
7,005
6.0%
617
0.5%
681
0.6%
719
0.6%
1,715
1.5%
2,203
1.9%
2,507
2.1%
44
0.0%
52
0.0%
57
0.0%
11,292
9.7%
15,640
13.4%
18,455
15.7%
2000 Race and Ethnicity
American Indian Alone Asian Alone Pacific Islander Alone Some Other Race Alone Two or More Races Hispanic Origin (Any Race)
2008
2013
2,043
1.8%
2,527
2.2%
2,826
2.4%
23,127
19.8%
31,453
27.0%
36,803
31.4%
Data Note: Income is expressed in current dollars. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2008 and 2013 were effective as of July 1, 2008. Business data provided by Acxiom. Copyright 2008, all rights reserved. ©2008 ESRI
On-demand reports and maps from Business Analyst Online. Order at www.esri.com/bao or call 800-292-2224
Colliers International
| www.colliers.com/dallas
7/08/2009
Page 1 of 1
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 13
Demographics Community Summary Prepared by Colliers Research
50th Street&&Memphis Memphis Avenue, Lubbock, TX 79413 50th Atreet Ave., Lubbock, TX 79413 Site Type: Ring Summary Population
Latitude
33.548788
Longitude
-101.896394
Ring:
5.0 mile
2000
2008
2013
184,360
199,002
206,114
Households
72,739
79,665
83,095
Families
44,955
48,703
50,228
Average Household Size
2.43
2.39
2.38
Owner Occupied HUs
40,044
46,022
47,304
Renter Occupied HUs
32,695
33,643
35,790
29.7
30.9
32.0
78,794
87,591
92,102
Median Age Total Housing Units Vacant Housing Units
6,055
7,926
9,008
Average Home Value
$85,274
$113,086
$121,553
Total Businesses
-
12,534
-
Total Employees
-
96,337
2000 Households by Income
-
2008
2013
Number
Percent
Number
Percent
Number
Percent
< $15,000
16,611
22.8%
13,732
17.2%
12,176
14.7%
$15,000 - $24,999
12,121
16.6%
9,969
12.5%
8,781
10.6%
$25,000 - $34,999
10,061
13.8%
9,447
11.9%
8,087
9.7%
$35,000 - $49,999
11,738
16.1%
12,808
16.1%
12,216
14.7%
$50,000 - $74,999
11,871
16.3%
14,300
18.0%
17,709
21.3%
$75,000 - $99,999
5,272
7.2%
10,216
12.8%
9,335
11.2%
$100,000 - $149,999
3,094
4.2%
5,516
6.9%
9,690
11.7%
$150,000 - $199,000
919
1.3%
1,622
2.0%
2,048
2.5%
1,177
1.6%
2,048
2.6%
3,044
3.7%
$200,000+ Median Household Income
$32,419
$42,374
$50,324
Average Household Income
$44,953
$57,972
$67,564
Per Capita Income
$17,996
$23,743 2000
Population by Age
$27,820 2008
2013
Number
Percent
Number
Percent
Number
0-4
12,967
7.0%
14,356
7.2%
14,994
Percent 7.3%
5 - 14
24,335
13.2%
24,769
12.4%
25,279
12.3%
15 - 19
16,833
9.1%
16,835
8.5%
16,722
8.1%
20 - 24
24,679
13.4%
23,182
11.6%
23,766
11.5%
25 - 34
26,364
14.3%
32,258
16.2%
31,281
15.2%
35 - 44
24,845
13.5%
23,841
12.0%
25,564
12.4%
45 - 54
20,858
11.3%
24,411
12.3%
24,574
11.9%
55 - 64
13,063
7.1%
17,527
8.8%
20,612
10.0%
65 - 74
10,693
5.8%
10,554
5.3%
11,590
5.6%
75 - 84
7,104
3.9%
7,690
3.9%
7,609
3.7%
85+
2,620
1.4%
3,580
1.8%
4,123
2.0%
Number
Percent
Number
Percent
Number
Percent
White Alone
140,104
76.0%
142,737
71.7%
142,342
69.1%
Black Alone
11,262
6.1%
12,923
6.5%
13,662
6.6%
American Indian Alone
1,038
0.6%
1,205
0.6%
1,301
0.6%
Asian Alone
3,035
1.6%
3,938
2.0%
4,515
2.2%
62
0.0%
76
0.0%
83
0.0%
25,171
13.7%
33,437
16.8%
38,903
18.9%
2000 Race and Ethnicity
Pacific Islander Alone Some Other Race Alone Two or More Races Hispanic Origin (Any Race)
2008
2013
3,689
2.0%
4,686
2.4%
5,308
2.6%
49,156
26.7%
65,151
32.7%
75,657
36.7%
Data Note: Income is expressed in current dollars. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2008 and 2013 were effective as of July 1, 2008. Business data provided by Acxiom. Copyright 2008, all rights reserved. ©2008 ESRI
On-demand reports and maps from Business Analyst Online. Order at www.esri.com/bao or call 800-292-2224
Colliers International
| www.colliers.com/dallas
7/08/2009
Page 1 of 1
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 14
Demographics Market Profile
Prepared by Colliers Research 50th Atreet Street && Memphis Memphis Avenue, Lubbock, 79413 50th Ave., Lubbock, TXTX 79413 Latitude:
AAP - Lubbock
AAP - Lubbock
AAP - Lubbock
33.548788, -101.896394
33.548788, -101.896394
33.548788, -101.896394
Radius: 1 Miles
Radius: 3 Miles
Radius: 5 Miles
2000 Total Population 2000 Group Quarters 2009 Total Population 2014 Total Population 2009 - 2014 Annual Rate
15,320 91 15,076 15,175 0.13%
116,632 6,186 117,777 119,944 0.37%
184,360 7,779 198,722 207,071 0.83%
2000 Households 2000 Average Household Size 2009 Households 2009 Average Household Size 2014 Households 2014 Average Household Size 2009 - 2014 Annual Rate 2000 Families 2000 Average Family Size 2009 Families 2009 Average Family Size 2014 Families 2014 Average Family Size 2009 - 2014 Annual Rate
6,560 2.32 6,635 2.26 6,743 2.24 0.32% 4,202 2.85 4,109 2.81 4,101 2.81 -0.04%
47,438 2.33 48,910 2.27 50,225 2.26 0.53% 28,894 2.93 28,788 2.9 29,021 2.9 0.16%
72,739 2.43 79,772 2.39 83,710 2.38 0.97% 44,955 3.04 48,294 3.02 49,995 3.01 0.69%
6,768 62.5% 34.3% 3.1% 6,971 59.1% 36.1% 4.8% 7,097 60.7% 34.3% 5.0%
50,653 52.4% 41.3% 6.2% 53,369 49.5% 42.2% 8.4% 54,897 50.7% 40.8% 8.5%
78,771 50.8% 41.5% 7.7% 88,399 49.0% 41.2% 9.8% 92,855 50.7% 39.4% 9.8%
$36,758 $45,081 $47,322
$34,774 $44,030 $47,115
$32,419 $42,370 $46,304
$73,975 $94,549 $107,577
$75,892 $97,036 $109,098
$70,517 $91,065 $103,151
$19,905 $24,240 $24,462
$20,029 $24,789 $25,539
$17,996 $22,739 $23,463
37.9 39.6 40.1
31.3 32.6 33.7
29.7 30.9 31.8
33.548788
Longitude: -101.896394
2000 Housing Units Owner Occupied Housing Units Renter Occupied Housing Units Vacant Housing Units 2009 Housing Units Owner Occupied Housing Units Renter Occupied Housing Units Vacant Housing Units 2014 Housing Units Owner Occupied Housing Units Renter Occupied Housing Units Vacant Housing Units Median Household Income 2000 2009 2014 Median Home Value 2000 2009 2014 Per Capita Income 2000 2009 2014 Median Age 2000 2009 2014
Data Note: Household population includes persons not residing in group quarters. Average Household Size is the household population divided by total households. Persons in families include the householder and persons related to the householder by birth, marriage, or adoption. Per Capita Income represents the income received by all persons aged 15 years and over divided by total population. Detail may not sum to totals due to rounding. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2009 and 2014.
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 15
Traffic Count 50th & Memphis MemphisAve., Avenue 50th Street Atreet & Lubbock, TX 79413 TX 79413 Lubbock,
Traffic Count Map
Prepared by Colliers Research July 8, 2009
Latitude 33.548788 Longitude -101.896394
Source: © 2008 MPSI Systems Inc. d.b.a. DataMetrix®
Colliers International
©2008 ESRI, MPSI
| www.colliers.com/dallas
On-demand reports and maps from Business Analyst Online. Order at www.esri.com/bao or call 800-292-2224
COLLIERS DALLAS CLIENT GROUP
PRIVATE Page 1 of 1
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 16
Traffic Count Traffic Count Profile
Prepared by Colliers Research
50th Street & Memphis Avenue 50th AtreetTX & Memphis Lubbock, 79413 Ave., Lubbock, TX 79413 Distance:
0.03
Latitude 33.548788 Longitude -101.896394 Ring: 5.0 mile
Site Type: Ring
Street:
Closest Cross-street:
Memphis Ave
50th St (0.03 miles N)
Year of Count:
1990
Count:
6,870
0.05
Memphis Ave
49th St (0.03 miles N)
1990
7,600
0.41
50th St
Quaker Ave (0.09 miles W)
1990
32,750
0.45
50th St
Indiana Ave (0.04 miles E)
1990
33,150
0.49
Memphis Ave
42nd St (0.02 miles N)
1990
6,930
0.50
Quaker Ave
49th St (0.03 miles N)
1990
24,780
0.50
Indiana Ave
49th St (0.02 miles S)
1990
26,480
0.50
Quaker Ave
51st St (0.02 miles S)
1990
24,420
0.51
Indiana Ave
52nd St (0.03 miles S)
1990
29,500
0.56
50th St
Indiana Ave (0.07 miles W)
1990
38,040
0.59
50th St
Raleigh Ave (0.04 miles W)
1990
30,480
0.68
Indiana Ave
42nd St (0.03 miles N)
1990
22,390
0.74
Quaker Ave
41st St (0.03 miles N)
1990
26,130
0.94
50th St
Elgin Ave (0.05 miles E)
1990
36,300
0.96
Memphis Ave
35th St (0.02 miles S)
1990
6,780
1.00
Utica Ave
50th St (0.06 miles N)
1990
6,150
1.00
Utica Ave
48th St (0.06 miles N)
1990
5,080
1.04
Quaker Ave
36th St (0.03 miles S)
1990
24,390
1.05
Memphis Ave
33rd St (0.02 miles N)
1990
8,660
1.05
Indiana Ave
65th Dr (0.01 miles S)
1990
28,510
1.08
Indiana Ave
35th St (0.03 miles S)
1990
24,000
1.08
34th St
Joliet Ave (0.04 miles W)
1990
23,290
1.09
34th St
Peoria Ave (0.04 miles E)
1990
22,180
1.15
34th St
Hartford Ave (0.05 miles E)
1990
22,800
1.16
66th St
Hartford Ave (0.04 miles E)
1990
7,320
Data Note: The Traffic Profile displays up to 25 of the closest available traffic counts within the largest radius around your site. The years of the counts in the database range from 2008 to 1963. Just over 57% of the counts were taken between 2001 and 2008 and 83% of the counts were taken in 1997 or later. Traffic counts are identified by the street on which they were recorded, along with the distance and direction to the closest cross-street. Distances displayed as 0.00 miles (due to rounding), are closest to the site. A traffic count is defined as the two-way Average Daily Traffic (ADT) that passes that location. Source: Copyright: 2008 MPSI Systems Inc. d.b.a. DataMetrix®
Colliers International ©2008 ESRI
COLLIERS DALLAS PRIVATE CLIENT GROUP
| www.colliers.com/dallas
On-demand reports and maps from Business Analyst Online. Order at www.esri.com/bao or call 800-292-2224
7/08/2009
Page 1 of 1
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 17
Disclosure Colliers International NORTH TEXAS COMMERCIAL ASSOCIATION OF REALTORS ® Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.
Information About Brokerage Services
Before working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner's agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer's agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly.
IF THE BROKER REPRESENTS THE OWNER: The broker becomes the owner's agent by entering into an agreement with the owner, usually through a written listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner's agent anything the buyer would not want the owner to know because an owner's agent must disclose to the owner any material information known to the agent. IF THE BROKER REPRESENTS THE BUYER: The broker becomes the buyer's agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer's agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer's agent anything the owner would not want the buyer to know because a buyer's agent must disclose to the buyer any material information known to the agent. IF THE BROKER ACTS AS AN INTERMEDIARY: A broker may act as an intermediary between the parties if the broker complies with the Texas Real Estate License Act.
The broker must obtain the written consent of each party to the transaction to act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction: (1) shall treat all parties honestly; (2) may not discuss that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner; (3) may not discuss that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and (4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to discuss unless authorized in writing to discuss the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property. With the parties' consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party.
If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker's obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibi1ities of the broker, you should resolve those questions before proceeding.
This is not a contract. The real estate licensees asks that you acknowledge receipt of this information about brokerage services for the licensee's records.
Property: In this transaction, Colliers International is:
x agent for Owner/Landlord only; agent for Buyer/Tenant only; or an intermediary. CCBN Texas Limted Partnership dba Colliers International Real Estate Broker Company
Buyer, Seller, Tenant or Landlord
Date
_____________________________________________________ Real Estate Licensee Date
_________________________________________________ Buyer, Seller, Tenant or Landlord Date
Texas Real Estate Brokers and Salesmen are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or a complaint regarding a real estate licensee, you should contact the TREC at P.O. Box 12188, Austin, Texas 78711-2188 or call 512 465 3960. ©Copyright 1996 NTCAR form 15 (1/96)
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
COLLIERS INTERNATIONAL 4311 Oak Lawn Avenue Suite 400 Dallas, Texas 75219 214.692.1100 main 214.520.6777 fax www.colliers.com/dallas
Our Knowledge is your Property®
Property Listing
| Address, City, State
colliers DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts 3664 50th Street Lubbock, Texas 79413
Offering Memorandum
MEMPHIS AVENUE
50TH STREET
Investment Advisors
COLLIERS DALLAS PRIVATE CLIENT GROUP
Gavin Kam
Justin Engler
Senior Vice President
Senior Analyst
Jessica Oram
Mike Otillio
Marketing Coordinator Research Director www.colliers.com/dallas | Colliers
www.colliers.com/dallas International
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 2
Confidentiality Agreement The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Colliers International and should not be made available to any other person or entity without the written consent of Colliers International. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Colliers International has not 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 of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans
Investment Advisors
or 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; however, Colliers International has not verified, and will not verify,
Gavin Kam (214) 706.6030 [email protected]
any of the information contained herein, nor has Colliers International conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All
Justin Engler (877) 315-2311 [email protected]
potential buyers must take appropriate measures to verify all of the information set
Jessica Oram (214) 217.1272
forth herein. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT LISTING AGENT FOR MORE DETAILS.
[email protected]
Mike Otillio (214) 217-1232 [email protected]
4311 Oak Lawn Avenue, Ste 400 • Dallas, TX 75219 (214) 692-1100 • (214) 520-6777 Fax www.colliers.com.dallas
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 3
Table of Contents INVESTMENT OVERVIEW
4
LEASE INFORMATION
5
OFFERING SUMMARY
6
LOCATION OVERVIEW
7
AERIALS
8
LOCATION MAP
9
SITE PLAN
10
DISCLOSURE
11
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 4
Offering Summary pricing: Price
$1,299,000
Cap Rate
8.25%
Price / Sq. Ft.
$212.12 per Square Foot
Building Size
6,124 Square Feet
Land Size
28,314 Square Feet
loan summary: Loan Amount:
All Cash
Type
N/A
Terms
N/A
Interest Rate
N/A
Amortization Rate
N/A
ANNUALIZED OPERATING DATA: Base Rent
$107,164 Annual
Expenses
$0
Net Operating Income
$107,164
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 5
Investment Overview highlights • 15 Year Primary Term • Near the Intersection of 50th Street & Memphis Avenue • Lubbock is located in Northwest Texas with an estimated 2009 population of 218,265 • Home of Texas Tech University, which enrolls 28,000+ students The subject property fronts 50th street in Lubbock, just west of its intersection at Indiana Avenue. 50th street is a heavily traveled east/west commercial artery that connects Loop 288 and Highway 87. Directly across the street is Sutherland Lumber. Other national retailers near the property include Albertsons, Market Street, American Bank of Commerce and CVS. The population within a three mile radius exceeds 116,571. Property Name:
Advance Auto Parts Stores Inc.
Square Feet:
6,124 Square Feet
Acres:
0.65
Type:
Triple Net
Year Built:
2009
Location:
According to the 2000 U.S. Census,
the city population was 199,564, making it the 90th largest city in the United States and the 11th largest in Texas. The 2009 population was estimated to be 218,265. Lubbock County had an estimated 2009 population of 265,873.
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 6
Lease Information advance auto parts Tenant Name:
Advance Auto Parts
Lease Term:
15 Year Primary Term
With three, five (5) year renewal options
Lease Type:
Triple Net (NNN)
Years
Lease Rate:
Monthly
Annual
Sq. Ft. Rate
1 - 15 $ 8,930.83
$ 107,164
$ 17.50
Options:
Years
Monthly
Annual
Sq. Ft. Rate
First
16 - 20
$ 9,823.37
$ 117,880
$ 19.24
Second
21 - 25
$ 10,314.50
$ 123,774
$ 20.21
Third
26 - 30
$ 10,830.25
$ 129,963
$ 21.22
Property Taxes:
Tenant Responsibility
Property Insurance:
Tenant Responsibility
Roof/Structure:
Landlord Responsibility
Interior and Exterior:
Tenant Responsibility
TENANT INFORMATION Guarantor:
Advance Auto Parts
Market Capitalization:
3.91 Billion
Exchange:
NASDAQ
Stock Symbol:
AAP
Description:
Advance Auto Parts, Inc. (AAP), through its subsidiaries, operates as a retailer of automotive parts, accessories, and maintenance items to do-it-yourself and do-it-for-me customers in the automotive aftermarket industry. As of January 3, 2009, this segment operated 3,243 AAP stores in the United States, Puerto Rico, and the Virgin Islands; and 3,215 stores in the northeastern, southeastern, and Midwestern regions of the United States. Annual Revenue for the company exceeded $5.3 billiion in 2008.
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 7
Location Overview area Profile As of 2009, the estimated population of Lubbock was 218,265. Lubbock continues to grow, relying on the vast agricultural industry of the area as well as on a variety of manufacturing facilities. Lubbock, Texas (33º35’ N, 101º51’W) is located in northwest Texas. Considered to be at the center of the South Plains, the area is located between the Permian Basin to the south and the Texas Panhandle to the north. Lubbock’s official elevation is 3,256 feet. Lubbock was named after Thomas S. Lubbock, a former Texas Ranger and Confederate officer. His brother, Francis R. Lubbock, was the governor of Texas during the Civil War. The county of Lubbock was founded in 1876. The settlement that is the present-day city of Lubbock was not formed until late 1890. Two settlements within the county, Old Lubbock and Monterey, were combined to form the settlement of Lubbock. During the following year, the settlement of Lubbock was named the county seat for Lubbock County. The city was incorporated on March 16, 1909. Shortly after incorporation, rail service was established in Lubbock. As agriculture continued to grow within the region and as the railroads continued to expand, Lubbock became the marketing center of the region and earned the name “Hub of the Plains”. Lubbock continued to grow as the city’s opportunities increased. In 1925, Texas Technological College opened its doors, providing Lubbock with a major boost to its economy. While Lubbock felt the effects of the Great Depression, the city started to bounce back with the opening of two military training bases during World War II. After the war, Lubbock experienced a tremendous growth rate. During the ‘40s, Lubbock’s rate of growth was second nationally only to Albuquerque. Lubbock experienced its worst disaster on May 11, 1970, when a tornado, considered to be one of the strongest in recorded history, came through the center of town, wreaking havoc over three square miles of the city. Twenty-six people were killed and there was more than $135 million in damage. The city quickly repaired or replaced the damaged buildings. Part of this renovation included the construction of the Lubbock Memorial Civic Center, built as a memorial to those who died from this devastating tornado. As of 2009, the estimated population of Lubbock was 218,265 Lubbock continues to grow, relying on the vast agricultural industry of the area as well as on a variety of manufacturing facilities.
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 8
Location Map
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 9
UE INDIANA AVEN
QUAKER AV
ENUE
MEMPHIS AVENUE
Aerial View
50TH STREET
54TH STREET
MEMPHIS AVENUE
50TH STREET
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 10
Site Plan
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 11
Demographics Community Summary Prepared by Colliers Research
50th MemphisAve., Avenue, Lubbock, TX 79413 50th Street Atreet &&Memphis Lubbock, TX 79413 Site Type: Ring Summary
Latitude
33.548788
Longitude
-101.896394
Ring:
1.0 mile
2000
2008
2013
15,320
14,842
14,771
Households
6,560
6,531
6,567
Families
4,202
4,065
4,014
2.32
2.26
2.23
Owner Occupied HUs
4,234
4,286
4,188
Renter Occupied HUs
2,326
2,245
2,379
37.9
39.7
40.8
6,773
6,839
6,919
Population
Average Household Size
Median Age Total Housing Units Vacant Housing Units
213
308
352
Average Home Value
$80,256
$102,397
$108,533 -
Total Businesses
-
780
Total Employees
-
4,776
2000 Households by Income
-
2008
2013
Number
Percent
Number
Percent
Number
976
15.0%
689
10.5%
600
9.1%
1,170
17.9%
839
12.8%
664
10.1%
$25,000 - $34,999
914
14.0%
874
13.4%
781
11.9%
$35,000 - $49,999
1,282
19.7%
1,267
19.4%
1,116
17.0%
< $15,000 $15,000 - $24,999
Percent
$50,000 - $74,999
1,110
17.0%
1,282
19.6%
1,596
24.3%
$75,000 - $99,999
594
9.1%
837
12.8%
814
12.4%
$100,000 - $149,999
323
5.0%
529
8.1%
715
10.9%
$150,000 - $199,000
89
1.4%
96
1.5%
128
1.9%
$200,000+
66
1.0%
119
1.8%
155
2.4%
Median Household Income
$36,758
$45,309
$51,480
Average Household Income
$46,577
$57,326
$63,717
Per Capita Income
$19,905
$25,201 2000
Population by Age
$28,304 2008
2013
Number
Percent
Number
Percent
Number
860
5.6%
844
5.7%
842
5.7%
5 - 14
1,846
12.0%
1,568
10.6%
1,506
10.2%
15 - 19
1,054
6.9%
879
5.9%
799
5.4%
20 - 24
1,589
10.4%
1,028
6.9%
1,007
6.8%
25 - 34
1,758
11.5%
2,337
15.7%
2,052
13.9%
0-4
Percent
35 - 44
2,009
13.1%
1,655
11.2%
1,866
12.6%
45 - 54
1,809
11.8%
1,954
13.2%
1,850
12.5%
55 - 64
1,402
9.2%
1,625
10.9%
1,884
12.8%
65 - 74
1,496
9.8%
1,250
8.4%
1,260
8.5%
75 - 84
1,139
7.4%
1,180
8.0%
1,097
7.4%
359
2.3%
522
3.5%
607
4.1%
Number
Percent
Number
Percent
Number
Percent
White Alone
13,669
89.2%
12,638
85.2%
12,206
82.6%
Black Alone
451
2.9%
547
3.7%
596
4.0%
57
0.4%
63
0.4%
65
0.4%
136
0.9%
173
1.2%
196
1.3%
5
0.0%
6
0.0%
7
0.0%
Some Other Race Alone
817
5.3%
1,181
8.0%
1,435
9.7%
Two or More Races
186
1.2%
233
1.6%
266
1.8%
2,210
14.4%
3,081
20.8%
3,677
24.9%
85+
2000 Race and Ethnicity
American Indian Alone Asian Alone Pacific Islander Alone
Hispanic Origin (Any Race)
2008
2013
Data Note: Income is expressed in current dollars. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2008 and 2013 were effective as of July 1, 2008. Business data provided by Acxiom. Copyright 2008, all rights reserved. ©2008 ESRI
On-demand reports and maps from Business Analyst Online. Order at www.esri.com/bao or call 800-292-2224
Colliers International
| www.colliers.com/dallas
7/08/2009
Page 1 of 1
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 12
Demographics Community Summary Prepared by Colliers Research
50th Street&&Memphis MemphisAve., Avenue, Lubbock, TX 79413 50th Atreet Lubbock, TX 79413 Site Type: Ring Summary Population
Latitude
33.548788
Longitude
-101.896394
Ring:
3.0 mile
2000
2008
2013
116,550
116,571
117,202
Households
47,405
48,308
49,006
Families
28,875
28,603
28,497
Average Household Size
2.33
2.27
2.25
Owner Occupied HUs
26,515
27,562
27,180
Renter Occupied HUs
20,890
20,746
21,826
31.3
32.5
33.7
50,563
52,431
53,613
Median Age Total Housing Units Vacant Housing Units
3,158
4,123
4,607
Average Home Value
$91,740
$117,163
$124,560 -
Total Businesses
-
8,093
Total Employees
-
60,379
2000 Households by Income
-
2008
2013
Number
Percent
Number
Percent
Number
Percent
< $15,000
9,572
20.2%
7,529
15.6%
6,602
13.5%
$15,000 - $24,999
7,825
16.5%
5,978
12.4%
5,071
10.3%
$25,000 - $34,999
6,420
13.5%
5,809
12.0%
4,986
10.2%
$35,000 - $49,999
7,810
16.5%
7,680
15.9%
7,248
14.8%
$50,000 - $74,999
8,043
17.0%
8,887
18.4%
10,624
21.7%
$75,000 - $99,999
3,736
7.9%
6,497
13.5%
5,617
11.5%
$100,000 - $149,999
2,291
4.8%
3,410
7.1%
5,708
11.6%
$150,000 - $199,000
725
1.5%
1,032
2.1%
1,161
2.4%
$200,000+
965
2.0%
1,479
3.1%
1,984
4.0%
Median Household Income
$34,775
$44,287
$51,181
Average Household Income
$48,794
$61,149
$70,066
Per Capita Income
$20,030
$26,051 2000
Population by Age
$30,097 2008
2013
Number
Percent
Number
Percent
Number
0-4
7,356
6.3%
7,389
6.3%
7,459
Percent 6.4%
5 - 14
13,980
12.0%
12,711
10.9%
12,460
10.6%
15 - 19
11,219
9.6%
10,660
9.1%
10,304
8.8%
20 - 24
15,435
13.2%
13,621
11.7%
13,722
11.7%
25 - 34
15,455
13.3%
17,959
15.4%
16,616
14.2%
35 - 44
14,996
12.9%
12,908
11.1%
13,633
11.6%
45 - 54
13,668
11.7%
14,388
12.3%
13,944
11.9%
55 - 64
8,985
7.7%
11,082
9.5%
12,531
10.7%
65 - 74
7,758
6.7%
7,237
6.2%
7,723
6.6%
75 - 84
5,525
4.7%
5,734
4.9%
5,542
4.7%
85+
2,174
1.9%
2,884
2.5%
3,269
2.8%
Number
Percent
Number
Percent
Number
Percent
White Alone
95,333
81.8%
88,925
76.3%
85,633
73.1%
Black Alone
5,505
4.7%
6,544
5.6%
7,005
6.0%
617
0.5%
681
0.6%
719
0.6%
1,715
1.5%
2,203
1.9%
2,507
2.1%
44
0.0%
52
0.0%
57
0.0%
11,292
9.7%
15,640
13.4%
18,455
15.7%
2000 Race and Ethnicity
American Indian Alone Asian Alone Pacific Islander Alone Some Other Race Alone Two or More Races Hispanic Origin (Any Race)
2008
2013
2,043
1.8%
2,527
2.2%
2,826
2.4%
23,127
19.8%
31,453
27.0%
36,803
31.4%
Data Note: Income is expressed in current dollars. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2008 and 2013 were effective as of July 1, 2008. Business data provided by Acxiom. Copyright 2008, all rights reserved. ©2008 ESRI
On-demand reports and maps from Business Analyst Online. Order at www.esri.com/bao or call 800-292-2224
Colliers International
| www.colliers.com/dallas
7/08/2009
Page 1 of 1
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 13
Demographics Community Summary Prepared by Colliers Research
50th Street&&Memphis Memphis Avenue, Lubbock, TX 79413 50th Atreet Ave., Lubbock, TX 79413 Site Type: Ring Summary Population
Latitude
33.548788
Longitude
-101.896394
Ring:
5.0 mile
2000
2008
2013
184,360
199,002
206,114
Households
72,739
79,665
83,095
Families
44,955
48,703
50,228
Average Household Size
2.43
2.39
2.38
Owner Occupied HUs
40,044
46,022
47,304
Renter Occupied HUs
32,695
33,643
35,790
29.7
30.9
32.0
78,794
87,591
92,102
Median Age Total Housing Units Vacant Housing Units
6,055
7,926
9,008
Average Home Value
$85,274
$113,086
$121,553
Total Businesses
-
12,534
-
Total Employees
-
96,337
2000 Households by Income
-
2008
2013
Number
Percent
Number
Percent
Number
Percent
< $15,000
16,611
22.8%
13,732
17.2%
12,176
14.7%
$15,000 - $24,999
12,121
16.6%
9,969
12.5%
8,781
10.6%
$25,000 - $34,999
10,061
13.8%
9,447
11.9%
8,087
9.7%
$35,000 - $49,999
11,738
16.1%
12,808
16.1%
12,216
14.7%
$50,000 - $74,999
11,871
16.3%
14,300
18.0%
17,709
21.3%
$75,000 - $99,999
5,272
7.2%
10,216
12.8%
9,335
11.2%
$100,000 - $149,999
3,094
4.2%
5,516
6.9%
9,690
11.7%
$150,000 - $199,000
919
1.3%
1,622
2.0%
2,048
2.5%
1,177
1.6%
2,048
2.6%
3,044
3.7%
$200,000+ Median Household Income
$32,419
$42,374
$50,324
Average Household Income
$44,953
$57,972
$67,564
Per Capita Income
$17,996
$23,743 2000
Population by Age
$27,820 2008
2013
Number
Percent
Number
Percent
Number
0-4
12,967
7.0%
14,356
7.2%
14,994
Percent 7.3%
5 - 14
24,335
13.2%
24,769
12.4%
25,279
12.3%
15 - 19
16,833
9.1%
16,835
8.5%
16,722
8.1%
20 - 24
24,679
13.4%
23,182
11.6%
23,766
11.5%
25 - 34
26,364
14.3%
32,258
16.2%
31,281
15.2%
35 - 44
24,845
13.5%
23,841
12.0%
25,564
12.4%
45 - 54
20,858
11.3%
24,411
12.3%
24,574
11.9%
55 - 64
13,063
7.1%
17,527
8.8%
20,612
10.0%
65 - 74
10,693
5.8%
10,554
5.3%
11,590
5.6%
75 - 84
7,104
3.9%
7,690
3.9%
7,609
3.7%
85+
2,620
1.4%
3,580
1.8%
4,123
2.0%
Number
Percent
Number
Percent
Number
Percent
White Alone
140,104
76.0%
142,737
71.7%
142,342
69.1%
Black Alone
11,262
6.1%
12,923
6.5%
13,662
6.6%
American Indian Alone
1,038
0.6%
1,205
0.6%
1,301
0.6%
Asian Alone
3,035
1.6%
3,938
2.0%
4,515
2.2%
62
0.0%
76
0.0%
83
0.0%
25,171
13.7%
33,437
16.8%
38,903
18.9%
2000 Race and Ethnicity
Pacific Islander Alone Some Other Race Alone Two or More Races Hispanic Origin (Any Race)
2008
2013
3,689
2.0%
4,686
2.4%
5,308
2.6%
49,156
26.7%
65,151
32.7%
75,657
36.7%
Data Note: Income is expressed in current dollars. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2008 and 2013 were effective as of July 1, 2008. Business data provided by Acxiom. Copyright 2008, all rights reserved. ©2008 ESRI
On-demand reports and maps from Business Analyst Online. Order at www.esri.com/bao or call 800-292-2224
Colliers International
| www.colliers.com/dallas
7/08/2009
Page 1 of 1
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 14
Demographics Market Profile
Prepared by Colliers Research 50th Atreet Street && Memphis Memphis Avenue, Lubbock, 79413 50th Ave., Lubbock, TXTX 79413 Latitude:
AAP - Lubbock
AAP - Lubbock
AAP - Lubbock
33.548788, -101.896394
33.548788, -101.896394
33.548788, -101.896394
Radius: 1 Miles
Radius: 3 Miles
Radius: 5 Miles
2000 Total Population 2000 Group Quarters 2009 Total Population 2014 Total Population 2009 - 2014 Annual Rate
15,320 91 15,076 15,175 0.13%
116,632 6,186 117,777 119,944 0.37%
184,360 7,779 198,722 207,071 0.83%
2000 Households 2000 Average Household Size 2009 Households 2009 Average Household Size 2014 Households 2014 Average Household Size 2009 - 2014 Annual Rate 2000 Families 2000 Average Family Size 2009 Families 2009 Average Family Size 2014 Families 2014 Average Family Size 2009 - 2014 Annual Rate
6,560 2.32 6,635 2.26 6,743 2.24 0.32% 4,202 2.85 4,109 2.81 4,101 2.81 -0.04%
47,438 2.33 48,910 2.27 50,225 2.26 0.53% 28,894 2.93 28,788 2.9 29,021 2.9 0.16%
72,739 2.43 79,772 2.39 83,710 2.38 0.97% 44,955 3.04 48,294 3.02 49,995 3.01 0.69%
6,768 62.5% 34.3% 3.1% 6,971 59.1% 36.1% 4.8% 7,097 60.7% 34.3% 5.0%
50,653 52.4% 41.3% 6.2% 53,369 49.5% 42.2% 8.4% 54,897 50.7% 40.8% 8.5%
78,771 50.8% 41.5% 7.7% 88,399 49.0% 41.2% 9.8% 92,855 50.7% 39.4% 9.8%
$36,758 $45,081 $47,322
$34,774 $44,030 $47,115
$32,419 $42,370 $46,304
$73,975 $94,549 $107,577
$75,892 $97,036 $109,098
$70,517 $91,065 $103,151
$19,905 $24,240 $24,462
$20,029 $24,789 $25,539
$17,996 $22,739 $23,463
37.9 39.6 40.1
31.3 32.6 33.7
29.7 30.9 31.8
33.548788
Longitude: -101.896394
2000 Housing Units Owner Occupied Housing Units Renter Occupied Housing Units Vacant Housing Units 2009 Housing Units Owner Occupied Housing Units Renter Occupied Housing Units Vacant Housing Units 2014 Housing Units Owner Occupied Housing Units Renter Occupied Housing Units Vacant Housing Units Median Household Income 2000 2009 2014 Median Home Value 2000 2009 2014 Per Capita Income 2000 2009 2014 Median Age 2000 2009 2014
Data Note: Household population includes persons not residing in group quarters. Average Household Size is the household population divided by total households. Persons in families include the householder and persons related to the householder by birth, marriage, or adoption. Per Capita Income represents the income received by all persons aged 15 years and over divided by total population. Detail may not sum to totals due to rounding. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2009 and 2014.
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 15
Traffic Count 50th & Memphis MemphisAve., Avenue 50th Street Atreet & Lubbock, TX 79413 TX 79413 Lubbock,
Traffic Count Map
Prepared by Colliers Research July 8, 2009
Latitude 33.548788 Longitude -101.896394
Source: © 2008 MPSI Systems Inc. d.b.a. DataMetrix®
Colliers International
©2008 ESRI, MPSI
| www.colliers.com/dallas
On-demand reports and maps from Business Analyst Online. Order at www.esri.com/bao or call 800-292-2224
COLLIERS DALLAS CLIENT GROUP
PRIVATE Page 1 of 1
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 16
Traffic Count Traffic Count Profile
Prepared by Colliers Research
50th Street & Memphis Avenue 50th AtreetTX & Memphis Lubbock, 79413 Ave., Lubbock, TX 79413 Distance:
0.03
Latitude 33.548788 Longitude -101.896394 Ring: 5.0 mile
Site Type: Ring
Street:
Closest Cross-street:
Memphis Ave
50th St (0.03 miles N)
Year of Count:
1990
Count:
6,870
0.05
Memphis Ave
49th St (0.03 miles N)
1990
7,600
0.41
50th St
Quaker Ave (0.09 miles W)
1990
32,750
0.45
50th St
Indiana Ave (0.04 miles E)
1990
33,150
0.49
Memphis Ave
42nd St (0.02 miles N)
1990
6,930
0.50
Quaker Ave
49th St (0.03 miles N)
1990
24,780
0.50
Indiana Ave
49th St (0.02 miles S)
1990
26,480
0.50
Quaker Ave
51st St (0.02 miles S)
1990
24,420
0.51
Indiana Ave
52nd St (0.03 miles S)
1990
29,500
0.56
50th St
Indiana Ave (0.07 miles W)
1990
38,040
0.59
50th St
Raleigh Ave (0.04 miles W)
1990
30,480
0.68
Indiana Ave
42nd St (0.03 miles N)
1990
22,390
0.74
Quaker Ave
41st St (0.03 miles N)
1990
26,130
0.94
50th St
Elgin Ave (0.05 miles E)
1990
36,300
0.96
Memphis Ave
35th St (0.02 miles S)
1990
6,780
1.00
Utica Ave
50th St (0.06 miles N)
1990
6,150
1.00
Utica Ave
48th St (0.06 miles N)
1990
5,080
1.04
Quaker Ave
36th St (0.03 miles S)
1990
24,390
1.05
Memphis Ave
33rd St (0.02 miles N)
1990
8,660
1.05
Indiana Ave
65th Dr (0.01 miles S)
1990
28,510
1.08
Indiana Ave
35th St (0.03 miles S)
1990
24,000
1.08
34th St
Joliet Ave (0.04 miles W)
1990
23,290
1.09
34th St
Peoria Ave (0.04 miles E)
1990
22,180
1.15
34th St
Hartford Ave (0.05 miles E)
1990
22,800
1.16
66th St
Hartford Ave (0.04 miles E)
1990
7,320
Data Note: The Traffic Profile displays up to 25 of the closest available traffic counts within the largest radius around your site. The years of the counts in the database range from 2008 to 1963. Just over 57% of the counts were taken between 2001 and 2008 and 83% of the counts were taken in 1997 or later. Traffic counts are identified by the street on which they were recorded, along with the distance and direction to the closest cross-street. Distances displayed as 0.00 miles (due to rounding), are closest to the site. A traffic count is defined as the two-way Average Daily Traffic (ADT) that passes that location. Source: Copyright: 2008 MPSI Systems Inc. d.b.a. DataMetrix®
Colliers International ©2008 ESRI
COLLIERS DALLAS PRIVATE CLIENT GROUP
| www.colliers.com/dallas
On-demand reports and maps from Business Analyst Online. Order at www.esri.com/bao or call 800-292-2224
7/08/2009
Page 1 of 1
Advance Auto Parts
| 3664 50th Street, Lubbock, Texas 79413
Page 17
Disclosure Colliers International NORTH TEXAS COMMERCIAL ASSOCIATION OF REALTORS ® Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.
Information About Brokerage Services
Before working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner's agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer's agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly.
IF THE BROKER REPRESENTS THE OWNER: The broker becomes the owner's agent by entering into an agreement with the owner, usually through a written listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner's agent anything the buyer would not want the owner to know because an owner's agent must disclose to the owner any material information known to the agent. IF THE BROKER REPRESENTS THE BUYER: The broker becomes the buyer's agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer's agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer's agent anything the owner would not want the buyer to know because a buyer's agent must disclose to the buyer any material information known to the agent. IF THE BROKER ACTS AS AN INTERMEDIARY: A broker may act as an intermediary between the parties if the broker complies with the Texas Real Estate License Act.
The broker must obtain the written consent of each party to the transaction to act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction: (1) shall treat all parties honestly; (2) may not discuss that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner; (3) may not discuss that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and (4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to discuss unless authorized in writing to discuss the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property. With the parties' consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party.
If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker's obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibi1ities of the broker, you should resolve those questions before proceeding.
This is not a contract. The real estate licensees asks that you acknowledge receipt of this information about brokerage services for the licensee's records.
Property: In this transaction, Colliers International is:
x agent for Owner/Landlord only; agent for Buyer/Tenant only; or an intermediary. CCBN Texas Limted Partnership dba Colliers International Real Estate Broker Company
Buyer, Seller, Tenant or Landlord
Date
_____________________________________________________ Real Estate Licensee Date
_________________________________________________ Buyer, Seller, Tenant or Landlord Date
Texas Real Estate Brokers and Salesmen are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or a complaint regarding a real estate licensee, you should contact the TREC at P.O. Box 12188, Austin, Texas 78711-2188 or call 512 465 3960. ©Copyright 1996 NTCAR form 15 (1/96)
Colliers International
| www.colliers.com/dallas
COLLIERS DALLAS PRIVATE CLIENT GROUP
COLLIERS INTERNATIONAL 4311 Oak Lawn Avenue Suite 400 Dallas, Texas 75219 214.692.1100 main 214.520.6777 fax www.colliers.com/dallas
Our Knowledge is your Property®
