Academy Sports + Outdoors - Offering Memorandum - Stan Johnson Company
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Offering Memorandum
Subject Property
Academy Sports + Outdoors
10808 Industriplex Blvd | Baton Rouge, LA 70809
Confidentiality and Restricted Use Agreement Offered Exclusively by
This Confidential Offering Memorandum (“COM”) is provided by Stan Johnson Company (“SJC”),
Greg Bond
solely for your consideration of the opportunity to acquire the commercial property described
Director
herein (the “Property”). This COM may be used only as stated herein and shall not be used for any
gbond@stanjohnsonco.com
other purpose, or in any other manner, without prior written authorization and consent of SJC.
P: 918.494.2690 Ext.521
This COM does not constitute or pertain to an offer of a security or an offer of any investment contract. This
COM contains descriptive materials, financial information and other data compiled by SJC for the convenience
of parties who may be interested in the Property. Such information is not all inclusive and is not represented
to include all information that may be material to an evaluation of the acquisition opportunity presented.
SJC has not independently verified any of the information contained herein and makes no representations
or warranties of any kind concerning the accuracy or completeness thereof. All summaries and discussions
of documentation and/or financial information contained herein are qualified in their entirety by reference
to the actual documents and/or financial statements, which upon request may be made available. An
interested party must conduct its own independent investigation and verification of any information the party
deems material to consideration of the opportunity, or otherwise appropriate, without reliance upon SJC. In association with
Bradley Jon Pepin
The Property may be financed or withdrawn from the market without notice, and its owner(s) reserve(s) the right to LA Lic. BROK.0995687899-ASA
negotiate with any number of interested parties at any time. The Property is offered and sold by its owner(s) as is,
where is, and with all faults, without representation or warranty of any kind except for any customary warranties of title.
BY ACCEPTING THIS COM, YOU AGREE THAT: (1) all information contained herein, and all other information
you have received or may hereafter receive from SJC relating to the Property, whether oral, written or in any
other form (collectively, the “Information”), is strictly confidential; (2) you will not copy or reproduce, and claim
as your own without attribution to SJC, all or any part of this COM or the Information; (3) upon request by SJC at
any time, you will return and/or certify your complete destruction of all copies of this COM and the Information;
(4) for yourself and all your affiliates, officers, employees, representatives, agents and principals, you hereby
release and agree to indemnify and hold harmless SJC all of its affiliates, officers, employees, representatives,
agents and principals, from and with respect to any and all claims and liabilities arising from or related to the
receipt or use of this COM and/or any other Information concerning the Property; (5) you will not provide this
COM or any of the Information to any other party unless you first obtain such party’s acceptance and approval
of all terms, conditions, limitations and agreements set forth herein, as being applicable to such party as well as
to you; and (6) monetary damages alone will not be an adequate remedy for a violation of these terms and that
SJC shall be entitled to equitable relief, including, but not limited to, injunctive relief and specific performance,
in connection with such a violation and shall not be required to post a bond when obtaining such relief.
Stan Johnson Company
6120 South Yale Avenue | Suite 300
Tulsa, Oklahoma 74136
P: 918.494.2690
stanjohnsonco.com
Purchase Price: $6,014,000 Investment Highlights
Cap Rate: 7.15% Desirable Tenant
Academy, a well known brand with 190 locations in 15 states and sales of
$4.19B, will be highly desirable by public and private investor groups
Location
The Offering • Located in a strong retail corridor
• Just off Interstate 10
Stan Johnson Company is pleased to offer for sale to qualified
investors Academy Sports, an attractive retail property with an • Surrounding tenants include Target, FedEx Office, Ross, Big Lots,
absolute net lease located in Baton Rouge, Louisiana. Chick-fil-a, McDonalds, and CarMax
The subject property is a 67,500 square foot retail sporting goods NNN Lease
store on 7.25 acres of land. The surrounding area consists of high end Tenant responsible for all expenses and maintenance
residential neighborhoods, private and public schools, churches, and
upscale office and retail centers. The demographics are excellent with Heavy Traffic Counts
an average household income over $93,878 in a one-mile radius. The Property is located off of Bluebonnet Blvd with over 42,397 VPD
High Average Household Incomes
• Within a 1-mile radius $93,878
• Within a 3-mile radius $85,019
• Within a 5-mile radius $90,553
Baton Rouge
• Home to LSU (Louisiana State University)
• State Capital of Louisiana
N
2 Academy Sports + Outdoors • Baton Rouge, LA
Lease Abstract
10808 Industriplex Blvd | Baton Rouge, LA 70809
Tenant Academy Sports + Outdoors
Building Size 67,500 SF
Year Built 2003
Land Size 7.25 Acres
NOI $430,050
Lease Commencement April 2003
Subject Property Photo
Term Remaining 6.6 Years
Primary Term Twenty (20) Years
Options Four (4), Five (5) Year options
Building Use Single Tenant Retail
Absolute net lease - Tenant is
responsible for all expenses
Expenses
including roof, structure, taxes,
insurance and maintenance.
Note: Tenant has right of first refusal
Rent Schedule
Lease Year Annually
Current - 20 $430,050
21-25 (Option 1)
FMV not less than $430,050 not N
greater than $494,557
95% of FMV not less than previous
Subsequent options year and not greater than a 10%
increase.
3 Academy Sports + Outdoors • Baton Rouge, LA
Tenant Overview
Academy, Ltd. (together with its wholly owned stores. In April 2011, the Company launched an Controlling Interest:
subsidiaries, the “Company” or “Academy”) e-commerce business to sell merchandise to
is one of the leading full-line sporting goods customers across the United States via the www. On August 3, 2011, Allstar LLC, an investment
retailers in the United States in terms of net academy.com website. entity controlled by affiliates of Kohlberg Kravis
sales. The Company offers a broad and diverse Roberts & Co. L.P. (“KKR”) acquired a majority
merchandise mix that extends beyond traditional Financial Highlights: interest in New Academy Holding Company
sporting goods merchandise. Academy offers LLC, the parent of the Company. Founded in
merchandise across three product divisions: Academy’s unique assortment and value 1976, KKR is a leading global investment firm
hardgoods, apparel and footwear. proposition allow it to compete against full- with $75.5 billion in assets under management
line sporting goods retailers as well as mass as of December 31, 2012. With offices around the
The Company seeks to meet the recreational, merchants. The Company’s stores generate world, KKR manages assets through a variety
athletic and lifestyle needs of the entire family. industry leading sales per square foot of $318 of investment funds and accounts covering
Academy has a value-based, unique, diverse compared to its closest competitor at $207(1). multiple asset classes. KKR seeks to create value
assortment of recognized brand names and On a per store basis, Academy’s average store by bringing operational expertise to its portfolio
private label merchandise tailored to the taste of generates $23.2 million of revenue compared companies and through active oversight and
the local markets they serve. Academy adheres to its closest competitor at $10.0 million . The
(1)
monitoring of its investments.
to an Every Day Low Price strategy, which Company opened 18 new stores in 2014 and has
drives significant customer traffic to the retail 20 additional stores set to open during 2015. KKR invests in high quality franchises across
stores and has insulated them during turbulent multiple industries, including current and
economic times. The Company has a “never out” For the fiscal year ended February 1, 2015, previous retail and consumer investments such
philosophy on core merchandise. As a result of Academy had total assets of $3.29 billion, a net as Sealy, Dollar General, Toys “R” Us, Pets at
these qualities, they have successfully built strong worth of $829 million and revenues of $4.19 Home, Maxeda, Duracell, Gillette, RJR Nabisco,
customer loyalty and brand awareness. billion. As a result of its highly productive store and Safeway. KKR is publicly traded on the
base, Academy generates sufficient cash flows New York Stock Exchange (NYSE: KKR). For
Academy currently operates 190 “Academy to not only grow its store base but to pay down additional information and a complete list of
Sports + Outdoors” retail locations in 15 states debt. KKR’s private equity investments, please visit
in the South and Southeast. The Company also KKR’s website at www.KKR.com.
operates two distribution centers, one in Katy,
Texas and one in Twiggs County, Georgia, that (1) Based upon recent analyst guidance for FY 2013
receive, store and ship merchandise to the
4 Academy Sports + Outdoors • Baton Rouge, LA
Baton Rouge, Louisiana - Skyline
Location Overview
Baton Rouge is the capital of Louisiana and its second-largest city. The one of the fastest-growing cities in the South in terms of technology.
seat of East Baton Rouge Parish, the city is located on the eastern bank of Metropolitan Baton Rouge was one of the fastest growing metropolitan
the Mississippi River. areas in the U.S. (under 1 million), with 602,894 in 2000 and 802,484
people as of the 2010 census.
As the “Capital City”, Baton Rouge is the political hub for Louisiana,
and is the second-largest metropolitan city in the state, with a growing Through the years, Baton Rouge has been and continues to be shaped by
population of 228,895 people as of 2014. The metropolitan area a variety of cultural and environmental influences. The Baton Rouge area is
surrounding the city, known as Greater Baton Rouge, has a population not dependent on one industry for its success or failure. The economy has
of 820,159 people as of 2013. The state capital, Baton Rouge is a thriving successfully diversified from the traditional chemical and gas industry core.
city that is home to both LSU and Southern University and numerous The area’s 57,000+ businesses make it a center for finance, health care,
businesses and industrial facilities. A building boom that began in the education, manufacturing, research and development, renewable energy
1990s continued into the 2000s, during which decade Baton Rouge was sources, transportation, construction, and distribution.
5 Academy Sports + Outdoors • Baton Rouge, LA
Subject Property Photos N 6 Academy Sports + Outdoors • Baton Rouge, LA
Surrounding Retail 7 Academy Sports + Outdoors • Baton Rouge, LA
)
PD
7V
,39
BATON ROUGE
2
CARDIOLOGY CENTER
(4
D
LV
B
HOME FURNITURE
ET
PLUS BEDDING
NN
MALL OF
LOUISIANA
BO
APPLE MALL OF
UE
LOUISIANA
BL
170+ STORES
I-1
0
(9
7,2
01
VPD
)
WOODHOUSE DAY
SPA
THE ADVOCATE
ST. GEORGE
CATHOLIC SCHOOL
& CHURCH
N
RA
IL
8 Academy Sports + Outdoors • Baton Rouge, LA
Demographics
10808 Industriplex Blvd | Baton Rouge, LA 70809 0 - 1 mi. 0 - 3 mi. 0 - 5 mi.
Population
2016 Population 6,222 69,851 172,327
2021 Population 6,519 71,391 176,743
2010-2016 Annual Rate -0.17% 0.51% 0.57%
2016-2021 Annual Rate 0.94% 0.44% 0.51%
Households
2016 Total Households 2,632 30,688 72,038
2021 Total Households 2,755 31,311 73,806
2010-2016 Annual Rate -0.37% 0.46% 0.52%
2016-2021 Annual Rate 0.92% 0.40% 0.49%
2016 Average Household Income $93,878 $85,019 $90,553
N
9 Academy Sports + Outdoors • Baton Rouge, LAOffered Exclusively by
Greg Bond
Director
gbond@stanjohnsonco.com
going beyond
P: 918.494.2690, ext.521
In association with
Bradley Jon Pepin
LA Lic BROK.0995687899-ASA
Stan Johnson Company
6120 S Yale Ave | Suite 300
Tulsa, OK 74136
P: 918.494.2690
stanjohnsonco.com
The information contained herein was obtained from sources believed reliable, however,
Stan Johnson Company makes no guaranties, warranties or representations as to the
completeness thereof. The presentation of this property for sale, rent or exchange is
submitted subject to errors, omissions, change of price or conditions, or withdrawal
without notices.You can also read
