BOOT BARN
1775 Vann Drive
Jackson, TN 38305
NET LEASE INVESTMENT OFFERING
TABLE OF CONTENTS
TABLE OF CONTENTS
II. Location Overview
Photographs
Aerials
Site Plan
Map
III. Market & Tenant Overview
Demographic Report
Market Overview
Tenant Overview
I. Executive Prole
Executive Summary
Investment Highlights
Property Overview
NET LEASE INVESTMENT OFFERING
DISCLAIMER
STATEMENT:
DISCLAIMER STATEMENT
The information contained in the following Offering Memorandum is proprietary and strictly condential.
It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made
available to any other person or entity without the written consent of The Boulder Group.
This Offering Memorandum has been prepared to provide summary, unveried 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. The Boulder Group has not
made any investigation, and makes no warranty or representation.
The information contained in this Offering Memorandum has been obtained from sources we believe to be
reliable; however, The Boulder Group has not veried, and will not verify, any of the information contained
herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no
warranty or representation whatsoever regarding the accuracy or completeness of the information provided.
All potential buyers must take appropriate measures to verify all of the information set forth herein.
NET LEASE INVESTMENT OFFERING
EXECUTIVE
SUMMARY:
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Boot Barn property located
in Jackson, Tennessee. The property is strategically located immediately off of Interstate 40 in a regional trade area.
The property is brand new construction outtted to accommodate Boot Barn. Boot Barn executed a ten year lease
that expires March 31, 2027. The lease features a 10% rental escalation in the primary term and in each of the four
5-year renewal option periods. Boot Barn is the largest and fastest-growing lifestyle retail chain devoted to western and
work-related footwear, apparel and accessories in the United States.
The 8,000 square foot building is located immediately off Interstate 40 along Vann Drive in Jackson’s primary retail
corridor. Interstate 40 is the primary east-west thoroughfare in the area experiencing trafc counts of 48,795 vehicles
per day. Retailers located in the immediate area include Walmart Supercenter, The Home Depot, Sam’s Club, Lowe’s
Home Improvement, Dick’s Sporting Goods, Ross Dress for Less and Kohl’s. Hotels located in the immediate area
including Faireld Inn, Comfort Suites, Best Western and Quality Inn. Directly west of the Boot Barn location,
construction is in progress for a mixed-use project. The project offers a destination featuring shopping, restaurants
and luxury living. Two miles north of the property is Union University, a top-ranked private university with over 4,300
students. The property is also located within close proximity to multiple residential communities and local businesses.
There are 64,000 people living within a ve mile radius of the property with average annual household incomes of
roughly $70,000 per year.
Boot Barn has over nine years on their lease which features a 10% rental escalation in the primary term and in each of
the four 5-year renewal option periods. The property is brand new construction designed specically for Boot Barn.
Boot Barn is the nation’s leading lifestyle retailer of western and work-related footwear, apparel and accessories with
more than 200 stores in 29 states. Boot Barn is a publicly traded company on the New York Stock Exchange using the
symbol “BOOT”.
NET LEASE INVESTMENT OFFERING
INVESTMENT
HIGHLIGHTS:
INVESTMENT HIGHLIGHTS
• New construction (2017)
• 10% rental escalation in primary terms and renewal option periods
• Triple net lease
• Over 64,000 people living within a five mile radius of the property earning an average household income of
$70,000 per year
• Positioned in a retail corridor featuring Walmart Supercenter, The Home Depot, Sam’s Club, Lowe’s Home
Improvement, Dick’
s Sporting Goods, Ross Dress for Less and Kohl’s
• Less than two-mile from Union University, a top-ranked private university with over 4,300 students
• Construction is in progress for a mixed-use project offering shopping, restaurants and luxury living directly
west to the property
• Boot Barn is the largest and fastest-growing lifestyle retail chain devoted to western and work-related footwear,
apparel and accessories in the U.S.
• Boot Barn is a publicly traded company on the New York Stock Exchange (Symbol: BOOT) with a market
capitalization in excess of $205 million
NET LEASE INVESTMENT OFFERING
PROPERTY
OVERVIEW:
PROPERTY OVERVIEW
NET LEASE INVESTMENT OFFERING
Price:
$2,200,000
Cap Rate:
6.36%
Rent Schedule:
NOI Escalation Date
$140,000
$154,000 4/1/2022
$169,400 4/1/2027 (Option 1)
$186,340 4/1/2032 (Option 2)
$204,974 4/1/2037 (Option 3)
$225,471 4/1/2042 (Option 4)
Rental Escalations: 10% Every 5-Years
Renewal Options: Four 5-Year; 10% Escalations
Lease Commencement Date: April 1, 2017
Lease Expiration Date: March 31, 2027
Tenant: Boot Barn Western and Work Wear (Corporate)
Year Built: 2017
Lease Type: NNN - No Landlord Responsibilities
Parking: 38 Spaces
Building Size: 8,000 SF
Land Size: 0.90 Acres
NET LEASE INVESTMENT OFFERING
PHOTOGRAPHS
NET LEASE INVESTMENT OFFERING
AERIAL
NET LEASE INVESTMENT OFFERING
SITE PLAN
NET LEASE INVESTMENT OFFERING
MAPMAPMAP
DEMOGRAPHIC
REPORT:
DEMOGRAPHIC REPORT
Population 3-Mile 5-Mile 7-Mile
Total Population 23,437 64,001 77,732
Total Households 9,158 24,404 29,710
Income 3-Mile 5-Mile 7-Mile
Median Household Income $49,581 $44,664 $43,011
Average Household Income $77,708 $69,977 $66,783
NET LEASE INVESTMENT OFFERING
MARKET OVERVIEW
MARKET
OVERVIEW:
Jackson, Tennessee
Jackson is the county seat of Madison County, Tennessee with a population of over 67,000 people. Located 70 miles east
of Memphis, it is a regional center of trade for West Tennessee. Jackson is the primary city of the Jackson, Tennessee
metropolitan area, which is included in the Jackson-Humboldt, Tennessee Combined Statistical Area. Jackson is Madison
County’s largest city, and the second-largest city in West Tennessee next to Memphis. It is home to the Tennessee Supreme
Court’s courthouse for West Tennessee, as Jackson was the major city in the west when the court was established in 1834.
Interstate 40 goes through the city in an east-west direction, and U.S. Route 45 in a north-south direction. Interstate 40 has six
exits in the city. McKellar-Sipes Regional Airport serves the city. SeaPort Airlines began commercial service from Jackson to
both Memphis and Nashville in January 2012.
The Jackson area has attracted major manufacturing companies like Procter & Gamble and Stanley/Black and Decker. Jackson
is the U.S. home to Japanese manufacturers including TBDN and ARJ [Toyota Boshoku] and Pacic Industries. Jackson is
home to Bodine Aluminum, a 100% Toyota owned high volume die casting plant. Jackson began investing in a large ber
network in 2003 and in January 2015 Jackson was named a “Gig City” from the upgrades to its ber network to offer Internet
speeds up to 1 gigabit per second to the home.
www.cityofjackson.net
NET LEASE INVESTMENT OFFERING
TENANT OVERVIEW
TENANT
OVERVIEW:
NET LEASE INVESTMENT OFFERING
Boot Barn
Boot Barn is the nation’s leading lifestyle retailer of western and work-related footwear, apparel and accessories for men,
women and children. The Company offers its loyal customer base a wide selection of work and lifestyle brands. Boot Barn
operates more than 200 stores in 29 states, in addition to an e-commerce channel, including both www.bootbarn.com
and www.sheplers.com. Boot Barn is a publicly traded company on the New York Stock Exchange (Symbol: BOOT)
with a market capitalization in excess of $205 million. The company was founded in 1978 and is headquartered in
Irvine, California. Boot Barn is the largest and fastest-growing lifestyle retail chain devoted to western and work-related
footwear, apparel and accessories in the United States.
Website: www.bootbarn.com
Locations: 200+
Employees: 5,000 +/-
Year Founded: 1978
Headquarters: Irvine, California
Stock Symbol: BOOT (New York Stock Exchange)
Market Capitalization: $205 million +/-
666 Dundee Road, Suite 1801
Northbrook, IL 60062
www.bouldergroup.com
Randy Blankstein
President
847.562.0003
randy@bouldergroup.com
Jimmy Goodman
Partner
847.562.8500
jimmy@bouldergroup.com
