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Representative PhotoStrayeruniversitySingle tenantbuilt-to-suit property1809 Dabbs Avenue, Nashville, TN 37210For more info on this opportunity please contact:JOE CACCAMOCHRIS KOSTANECKIZEB RIPPLECHRIS PETERSjcaccamo@capitalpacific.com (415) 274-7394CA BRE# 01191110zripple@capitalpacific.com (415) 274-2702CA BRE# 01242540Capital Pacific collaborates. Click here to meet the rest of our San Francisco team.ck@capitalpacific.com (415) 274-2701CA BRE# 01002010cpeters@capitalpacific.com (415) 274-2703CA BRE# 01339983In conjunction with TN Licensed Broker:Doug Stanfield, The Stanfield York Company(404) 255-8066 dstanfield@stanfield-york.com
SINGLE-TENANT STRAYER UNIVERSITY PROPERTY LOCATED JUST OFF I-40IN NASHVILLE. STRAYER IS A FOR-PROFIT CONTINUING EDUCATIONCOMPANY THAT IS PUBLICLY TRADED (NASDAQ : STRA)PRICE: 5,889,273CAP: 8.25%Investment HighlightsRENTABLE SF. . . . 20,000 SFLAND AREA. . . . . . 5.54 AcresLEASE TYPE. . . . . . NNPRICE PER SF . . . . 294.46BUILT . . . . . . . . . . . 2009INVESTMENT HIGHLIGHTS:Build-to-suit for Strayer University in 2009Strayer is located on access road with high visibility on I-40 (116,000 VPD), minutes from Nashville International Airportand is positioned between the airport and downtown Nashville, surrounded by dense residential and commercialpropertiesThe building is highly fungible for any office use and features handsome, contemporary brick and glass constructionForbes recently ranked Nashville as the #1 U.S. City for job growth (population of over 1 million)TENANT HIGHLIGHTS:Strayer enrolls about 60,000 students through its online programs and approximately 100 campuses in 24 U.S. statesStrayer is accredited by the middle states commission on higher educationAs of December 31, 2013, Strayer Education, Inc. reported total revenues for the fiscal year of 503,600,000LEASE HIGHLIGHTS:2% annual rental increases through primary term. Two (2) five-year option periods at fair market valueLease commenced May 1, 2009 and expires April 30, 2019 (approximately 5 years left on primary term)NN Lease: landlord is responsible for roof & structure. Landlord is reimbursed for additional operating expenses,including administrative/management feesAsset features income from 3 billboards on property, averaging 37,000 annuallySTRAYER UNIVERSITY 2Representative Photo
Representative PhotosIncome & ExpensePRICE 5,889,273Capitalization Rate:8.25%Price Per Square Foot 294.46Total Rentable Area (SF):20,000Lot Size (Acres):STABILIZED INCOMEScheduled Rent5.54Per Square Foot 22.52Billboard Income (approx)* 37,433Effective Gross IncomeLESS 450,432 487,865Per Square FootTaxesNNN 0.00InsuranceNNN 0.00Structural Reserves 0.10( 2,000.00)EQUALS NET OPERATING INCOME 485,865*Billboard income represents average over past 3 years. Billboard income features a base rent of 32,500 plus apercentage over a natural breakpoint.This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.STRAYER UNIVERSITY 3
Rent RollTENANT INFOLEASE TERMSTenant NameSq. Ft.Strayer nthlyRent/FTYearlyRent/FT5/13/145/12/15 37,536 450,432 1.88 22.525/13/155/12/16 38,284 459,408 1.91 22.975/13/165/12/17 39,049 468,588 1.95 23.435/13/175/12/18 39,831 477,972 1.99 23.905/13/185/12/19 40,630 487,560 2.03 24.38Option 15/13/195/12/24FMVFMVFMVFMVOption 25/13/245/12/29FMVFMVFMVFMV 37,536 450,432 37,536.00 22.5220,000This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.Representative PhotoSTRAYER UNIVERSITY 4
Representative PhotosStrayer UniversityRepresentative PhotoSTRAYER UNIVERSITYIS A PUBICLY TRADEDCORPORATION,WITH CORPORATEHEADQUARTERS INHERNDON, VIRGINIAABOUT STRAYER UNIVERSITYStrayer University is a United States-based private, for-profithigher education institution. The university enrolls studentsthrough its online learning programs and locations in 24U.S. states. The university specializes in degree programs forworking adults and offers undergraduate/graduate degrees.It was founded in 1892 as Strayer’s Business College and laterbecame Strayer College, before being granted university statusin 1998. Strayer University is accredited by the middle statescommission on higher education.2013 REVENUE 503MNUMBER OF LOCATIONS100NUMBER OF STUDENTS40,000 STRAYER UNIVERSITY 5
4140155247041702440sbbDa enueAv70SCameronMiddle ,929 DAILYFall-HamiltonElementary65155440ONE HUNDRED OAKS MALL2444041155NASHVILLECITY CENTER65STRAYER UNIVERSITY 6
Regional tive PhotoSTRAYER UNIVERSITY 7
Location & DemosNASHVILLE, TN OVERVIEWNashville is the capital of Tennessee and the county seat of DavidsonCounty. It is the principal city in the Nashville Metropolitan Statistical Area,which has a population of over 1.5 million people. Nashville is a centerfor the health care, publishing, banking and transportation industries,and is home to a large number of colleges and universities. It is knownas a center of the music industry, earning it the nickname “Music City.”Nashville’s music industry is estimated to have a total economic impact of 6.4 billion per year and to contribute 19,000 jobs to the Nashville area.Although Nashville is renowned as a music recording center and touristdestination, its largest industry is actually health care. Nashville is hometo more than 250 health care companies, including Hospital Corporationof America, the largest private operator of hospitals in the world. Theautomotive industry is also becoming increasingly important for theentire Middle Tennessee region. Fortune 500 companies within Nashvilleinclude Dell, HCA Inc. and Dollar General CorporationNashville was ranked fifth on a top 10 list of most desirable cities to retireby U.S. News & World Report in 2009, and as the fifth most affordable cityin America by Forbes in -Mile 41,515 33,520 45,784 35,056 49,158 35,5152010201320182013 HOUSEHOLD INCOMESAverageMedianTOP EMPLOYERS IN NASHVILLEEmployerVanderbiltNissanHCA Holdings, IncSt. Thomas Health# of Employees*23,0218,5007,0006,500*ApproximateSTRAYER UNIVERSITY 8
Representative PhotoA unique HUMANRESULTS-DRIVENclient experienceTHE CAPITAL PACIFIC EXPERIENCE - OUR DAILY COMMITMENT TO OUR CLIENTS[ www.CapitalPacific.com ]JOE CACCAMOCHRIS KOSTANECKIZEB RIPPLECHRIS PETERSjcaccamo@capitalpacific.com (415) 274-7394CA BRE# 01191110zripple@capitalpacific.com (415) 274-2702CA BRE# 01242540ck@capitalpacific.com (415) 274-2701CA BRE# 01002010In conjunction with TN Licensed Broker:Doug Stanfield, The Stanfield York Company(404) 255-8066 c.com (415) 274-2703CA BRE# 01339983Copyright 2014 [Capital Pacific Real Estate Brokerage Company]
became Strayer College, before being granted university status in 1998. Strayer University is accredited by the middle states commission on higher education. 2013 REVENUE 503M NUMBER OF LOCATIONS 100 NUMBER OF STUDENTS 40,000 STRAYER UNIVERSITY IS A PUBICLY TRADED CORPORATION, WITH CORPORATE HEADQ
