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Crunch Fitness Tuscaloosa
Fully Occupied NNN Retail Property Sale

Fully Occupied NNN Property – As of June 2019, the Property is fully occupied through January 2034 with two 5-year renewal options. The Property was constructed in 2013 as a build-to-suit for Gander Mountain, which closed as part of the company’s bankruptcy proceedings in 2017.  Crunch Fitness subsequently signed a 15-year lease at the property, taking occupancy in October 2018.

Growing Market and Industries – Tuscaloosa is the fastest growing city in Alabama, experiencing growth of over 10% since 2010.  This trend is expected to continue as it is anticipated that the population will add an additional 3.49% over the next 5 years, outpacing both state and national levels.  Growth in the market is most attributable to the increase in enrollment at the University of Alabama and the recent Mercedes Benz expansion.  In 2015 Mercedes Benz (which just completed an expansion to their plant in 2018) announced plans to invest over $1.3bn into the market over the following 10 years.  The University of Alabama recently completed a 16-year streak of increasing enrollment, reaching a historical high of 38,563 in 2017.  Over the past 10 years alone, enrollment has grown over 10,000 students.  The current unemployment rate of 2.9% is far lower than both state and national averages of 3.8% and 3.6% respectively.

Strong Location and Demand Drivers – The Property has excellent frontage along McFarland Blvd., which has one of the highest traffic counts in the greater Tuscaloosa area. The site is located in an established, in-fill location with convenient access to Interstate 59/20.

THE OFFERING
RealINSIGHT Marketplace and Mission Capital Advisors are pleased to offer the opportunity to acquire Crunch Fitness Tuscaloosa, a 42,274 sf property that was constructed in 2013 on a 4.04 acre site.  The property is currently 100% NNN leased to Crunch Fitness for a 15-year term expiring in January 2034.  The Property is situated on one of the highest trafficked roads in Tuscaloosa and has excellent access and visibility.  The property is located approximately 3.5 miles south of The University of Alabama.   

Mission Capital is pleased to offer Seller Approved Financing Options

Benefits include:

- Lender access to Property to conduct Lender Inspections and Third Party Reports

- Significant experience across the entire capital stack

- Unparalleled capital markets knowledge

- Development of the most creative financing strategies

- Established relationships with debt funds, insurance companies, investment banks, foreign and domestic banks, agencies and pension funds

- Provide clients with the most competitive terms and most reliable execution

 

How you receive these benefits:

1 - Contact (now): Alex Draganiuk at 212-941-2276 or adraganiuk@missioncap.com

2 - Complete Finance Pre-Screening (before auction)

3 - Complete Debt Placement Agreement (before auction)

4 - Complete Bid Registration Process (before auction)

5 - Win Auction

6 - Fulfill Lender Checklist

7 - Close Loan

______________________________________

MARKET LEADING MORTGAGE BANKING FIRM

Founded in 2002, Mission Capital Advisors, LLC is a leading national, diversified real estate capital markets solutions firm with offices in New York, Florida, Texas, California, Alabama, and South Carolina. The firm delivers value to its clients through an integrated platform of advisory and transaction management services across debt, mezzanine, and JV equity placement; commercial and residential loan sales; and loan portfolio due diligence and valuation. Mission Capital Advisors is extremely active in arranging financing for office, industrial, multifamily, retail and self-storage properties across the country.

Since its inception, Mission Capital has advised a variety of leading financial institutions and real estate investors on more than $79 billion of financing and loan sale transactions, as well as in excess of $14 billion of Fannie Mae and Freddie Mac transactions, positioning the firm strongly to provide unmatched loan portfolio valuation services for both commercial and residential assets. Mission Capital’s seasoned team of industry-leading professionals is committed to achieving clients’ business objectives while maintaining the highest levels of integrity and trust. For more information, visit www.missioncap.com.

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Crunch Fitness Tuscaloosa

3325 McFarland Boulevard East, Tuscaloosa, AL 35405

Sold

Asset Snapshot

  • Asset Type
  • Real Estate
  • Land Area
  • 4.04 Acres
  • Year Built
  • 2013
  • Year Renovated
  • 2018
  • Number of Floors
  • 1
  • Number of Buildings
  • 1
  • Parking Count
  • 162
  • Occupancy
  • 100.00%
  • Occupancy as of
  • Jun 01, 2019
  • Retail Type
  • Freestanding Retail
  • Anchor
  • No
  • Property Size
  • 42,274 Sq Ft
  • Platform Fee

    Platform fee for this transaction is 5.00% or a minimum of $25,000.

  • Cooperating Broker Fee Available!

    Cooperating brokers may be eligible for a 0.50% co-op fee if their client is the winning bidder. If you are a broker, click here to login and identify your client.

  • Auctioneer

    1. John Mickey Fowler

      c/o Fisher Auction Company Inc.

      License: ALSL466