Pickerington Medical Office Building 1030 Refugee Road NW .

Transcription

Pickerington Medical Office Building1030 Refugee Road NWPickerington, Ohio 43147Gregory Weber, SIOR, LEED APSenior Vice PresidentJohn DerzonSenior Vice PresidentThe Daimler Group, Inc.1533 Lake Shore DriveColumbus, Ohio 43204Ph: 614-488-4424www.daimlergroup.com

TABLE OF CONTENTSSection IBuilding PhotoLocation MapsAerial ViewBenefits and FeaturesSite PlanSection IILease ProposalTenant Supplied ItemsSection IIIFloor PlansPhotographsSection IVOwnership ModelSection VDaimler Corporate Profile

BUILDING LOCATIONThe Medical Center is located just west of State Route256 and Refugee Road in Pickerington, Ohio.

PICKERINGTON VICINITY MAP

BENEFITS AND FEATURESLocation & AccessibilityThe Pickerington Medical Center is located at the main entrance tothe new OhioHealth Pickerington Medical campus. The PickeringtonMedical campus is located in the heart of one of the fastest growingareas in Central Ohio. The first phase of the project includes a 97,000sf, three-story, ambulatory care center and a 47,300 sf, two-story MOB/ASC Building, full service ED, Image, Lab, Rehab, teaching space and amulti-specialty general practice clinic. Future phases will be developedas needed to serve the needs of the community.Architectural DesignThe building has a traditional architectural design with a brick, wood,stone, and glass facade. Large interior floor plates will maximizeefficiency and provide flexibility for each tenant in the building.

SITE PLAN

LEASE PROPOSALBuilding AddressPickerington Medical Center1030 Refugee Road NWPickerington, Ohio 43137Building DescriptionThe building is a two-story, 47,300 square foot, structural steel framed,medical office building with concrete floors and a brick, wood, stoneand glass exterior skin, located on the campus of the PickeringtonMedical Campus.Leasable Square Feet8,436 sf AvailableCommon Area FactorThe common area is 13%Initial Lease TermTen years minimum; 15 years in order to participate in ownershipBase Lease RateYear 1Years 2 Operating ExpensesIn addition to the Base Lease Rate, each Lessee will be responsible fora pro rata share of all operating expenses beginning upon occupancy.Expenses will include real estate taxes, insurance on the building,general maintenance, utilities, water, etc. Operating expenses for2020 are projected to be 11.98 per square foot.ParkingThe project includes 595 spaces for the first phase of the PickeringtonMedical Center. Patients will have direct access to the free parkingimmediately adjacent to the building.SignageSignage shall consist of a listing on the main lobby directory, on floordirectories and at the suite entrance.Tenant ImprovementsThe Lessor’s standard tenant finish allowance is equal to 45.00 perrentable square foot. 16.25 per square foot, triple net1.25% annual increase

TENANT SUPPLIED ITEMS Telephone System Intercom/Paging System Television/Cable Service Security Monitoring System Sound Masking Computer Cable/Termination/Hook-Up Kitchen Appliances (Compactor, Dishwasher, Refrigerator) Vending Machines (Inside Offices) Interior Office Signage Art Work Furniture (Fixed/Movable Modular)/Hook up for Electric/ Phones/Computer Audio/Visual Equipment/Projectors Dry or Chemical Fire Protection File Systems Drapery (Decorative or BlackOut) Special HVAC Systems All Medical Equipment/Installation Uninterrupted Power Supply(UPS), Generator or AlternativePower

AVAILABLE SPACE8,436 SF2ND FLOOR

EXTERIOR PHOTOS

INTERIOR PHOTOS

INTERIOR PHOTOS

OWNERSHIP MODELGeneral InformationTenants will have the opportunity to participate in the ownership of thefacility. As an ownership participant, Tenant will have the right to participate in distributions of cash flow associated with the project.Ownership StructureThe Pickerington Medical Center MOB/ASC (the “Facility”) will beowned by a limited liability company (“Ownership LLC”). Tenants willhave the option to participate as a limited, non-voting member in theOwnership LLC. As a limited non-voting member, Tenant will not be responsible to guarantee debt or be required to provide additional equityunless otherwise agreed to by Tenant. In the case of a material, uncuredmonetary default of its lease, Tenant will forfeit its membership in theOwnership LLC.Tenant ParticipationBased on Tenant’s projected leasable square footage, Tenant wouldbe entitled to a profit/loss interest according to the following formula:Tenant’s leased square footage 45,330 sf x 80% Tenant’s ownership interest %. For example, if a tenant leased 4,533 square feet (10%of the building), they would be entitled to an 8.0% ownership interest. Inorder for Tenant to participate Tenant would be required to enter into a15 year lease with the following terms:Annual Base RentYear 1 16.25/rsf (net)Years 2 1.25% Annual IncreaseOwnership CostsInitially, Tenant will be required to contribute 13,500 per ownershippercentage for its profit/loss interest.Land LeaseThe fee interest of the land beneath the Facility is currently owned byOhioHealth. OhioHealth will enter into a Land Lease with the Ownership LLC on a participating basis for a term of 55 years with three,5-year renewals. As consideration for entering into the Ground Lease,OhioHealth will receive 25% participation in operating cash flow fromthe Facility. In the event of a sale or refinancing, OhioHealth will alsoreceive a 25% of the net proceeds. OhioHealth also maintains a seriesof controls over the ownership, management and use of the Facility.Development BudgetThe development budget for the project currently stands at 8,175,000.

Proforma/Cash FlowsBased on the projected costs, financing and rental rates, the stabilizedyear (3) three pro forma and projected cash flows from the Facility areas follows:Net Rental IncomeLess 5% vacancy/reserveNet Operating IncomeLess Debt ServiceCash Flow Before Participating Ground RentLess Participating Ground Rent (15%)Net Annual Cash Flow to Ownership LLCStabilized Annual Cash Flow per UnitOwnership Unit CostAnnual Return on 6)213,9792,14013,50015.9%Initial projections predict an internal rate of return (IRR) of in excess of20.6%. More detail can be provided after a letter of intent is executedfor the space.* Assumes 6,825,000 debt with 5.75% interest rate with 25-year amortization schedule

Corporate ProfileThe Daimler Group, Inc.Established in 19831533 Lake Shore DriveColumbus, Ohio 43204-4891(614) 488-4424 (phone)(614) 488-0603 (fax)www.daimlergroup.comGeneral InformationDaimler was founded in 1983 by Robert C. White and asmall group of prominent business leaders in the architectural,real estate, commercial banking and mortgage industriesfrom Central Ohio. As the firm developed, a select groupof key management personnel with diverse backgroundsbecame principals in the firm. Collectively, this group offersan outstanding combination of real estate and financialknowledge as well as development expertise, allowing for theexecution of development opportunities and creation of viablesolutions that address client-specific needs. The ownershipstructure is supported by a dedicated staff of experiencedspecialists in the real estate development, marketing andconstruction management fields.Corporate PhilosophyThe cornerstone of Daimler’s corporate philosophy is thecreation of the best possible real estate solution for the clientswe serve. To implement this philosophy, Daimler has assembleda staff of talented, experienced real estate professionals witha team-oriented, success-driven delivery model. Daimler firmlybelieves that successful development and construction of realestate requires superior market and product knowledge aswell as experienced, effective and well-regarded constructionpersonnel. This requires company personnel to constantlyexpand their knowledge of the areas the company servesand to understand and predict local trends in real estatedevelopment and construction.Suburban Office SpaceAccording to the annual surveys conducted by Business Firstover the last decade, Daimler is consistently recognized asone of the leading commercial real estate developers andconstruction managers in Central Ohio. In the Columbussuburban office market, Daimler has constructed morespace over the last 10 years than any other developer. Suchdevelopments include major corporate facilities for Big Lots,NetJets, The Ohio State University Wexner Medical Center,SEA, EXPRESS, The Limited, Time Warner Cable, TheOhio State University, American Family Insurance, UnisysCorporation, US Bank, Ohio State Bar Association, State ofOhio EPA, The Huntington Mortgage Company, The FrankGates Service Company, Steinhaus Financial, Sarcom, Inc.,Corporate One Credit Union, NBBJ Architects, Ohio SchoolBoards Association, IntelliRisk Management Corporation,Gerbig, Snell & Weisheimer, Donald R. Kenney Realtors,

Mettler Toledo, DuPont Flooring, The Trane Company, ExelLogistics, Anthem Insurance, AEP, Moody.Nolan Architects,Commercial Vehicle Group, Nationwide Insurance, HamiltonParker, Smoot Construction, OhioHealth, and many others.Healthcare ProjectsDaimler is a dominant player in the design, developmentand construction of healthcare facilities in Central Ohio.Developments include a broad range of healthcare relatedfacilities including medical office space, surgical suites, dialysiscenters, ambulatory surgery centers, diagnostic centers, urgentcare centers, radiology suites and linear accelerator oncologyvaults. Daimler has acted as the developer for several largescale hospital redevelopment/greenfield projects which haveincluded operating rooms, emergency departments, imaging,PT/OT and related support services. Daimler has activedevelopment relationships with all of the major healthcareproviders in Central Ohio. This success with local healthcareproviders has led to work with many major systems outsideCentral Ohio, including the Summa Health System andChildren’s in Akron, Ohio and the O’Bleness Hospital Systemin Athens, Ohio.Land DevelopmentSince its inception, Daimler has developed master plans and/or developed over 1,000 acres of raw ground. This includesapproximately 17 million square feet of office, medical officeand retail developments in the Columbus, Dublin, Westerville,New Albany, Gahanna and Upper Arlington markets. Someof these developments include office parks such as phase I,II and III of the Gowdy Field development near downtownColumbus which includes more than 425,000 square feetof office/medical office space. Daimler was also selectedby the New Albany Co. to jointly market and develop over1,000 acres of prime office and mixed-use ground in theNew Albany Business Park. Daimler is currently developingthe AIRSIDE Business Park at the Port Columbus InternationalAirport to house both warehouse and office projects as well asthe Hamilton Quarter Park.Daimler offers a full range of land development and constructionservices including land planning, municipality approaches,incentives, entitlements, infrastructure development andsustainable “LEED” techniques to promote environmentallyconscious development and construction.

Principles of BusinessThe following principles guide Daimler’sdevelopment/construction operations:The Daimler Differencerealestate- Development of clear, concise goals and objectives in theconception stage of a project;- Creation of a team-oriented environment that respects theinput of all participants and provides a platform for the bestpossible result;Development of architecturally pleasing, functionallyefficient, and high quality projects which maximize availablefunds and reflect area market conditions;Creation and maintenance of strict cost controls andscheduling guidelines to successfully complete projects withinbudget and on time;- Employment of team members with superior understandingof the competitive marketplace;- Confirmation that each project is the right combinationof location, building, design, economics, and owner/user relationships to obtain attractive financing at the mostcompetitive rates; andWhat differentiates Daimler from its competitors is the ability toprovide all facets of real estate development and constructionin-house. From a development perspective, Daimler has thein-house experience to manage the preconstruction/designdevelopment process with individuals who have devotedtheir entire professional careers to that endeavor. From aconstruction perspective, Daimler employs a very experiencedand knowledgeable staff of project managers andsuperintendents and has managed the construction of all typesof commercial buildings. Finally, from a financial structuringstandpoint, Daimler has ready access to cash reserves toprovide an appropriate debt to equity structure for the projectsit undertakes— especially in light of the recent volatile creditmarket swings. These reserves are in fact “real equity” and notthe result of mezzanine, venture capital or private equity firms,or secondary financing. Very few development/construction/real estate companies have all of these attributes under onecorporate umbrella. Daimler’s ability to promote a project withall of these in-house disciplines is why Daimler continues togrow and prosper as a real estate development company inCentral Ohio.- Creation of build-to-suit leasehold and ownership opportunitiesthat satisfy the individual goals and objectives of each clientwhile producing a profitable venture for all involved.WESTAR V

The Daimler Group, inc. 1533 lake Shore Drive columbuS, ohio 43204 ph: 614-488-4424 www.DaimlerGroup.com GreGory weber, Sior, leeD ap Senior vice preSiDenT John Derzon. S. enior. v. ice. p. reSiDenT. Pickerington Medical Office Building 1030 Refugee Road N