investment opportunity with a fortune 500 …...the fortune 500 list (june 2015) and announced 2014...

Broker: Jon Angel

President

203.335.6600, Ext. 21

[email protected]

ANGEL C O M M E R C I A L , L . L . C .

2425 POST ROAD, SUITE 303, SOUTHPORT, CT 06890 • TEL 203.335.6600 • FAX 203.335.9900 • WWW.ANGELCOMMERCIAL.COM

No warranty of representation, express or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,

change of price, rental or other conditions, withdrawal without notice and to any special listing conditions imposed by our principals.

1739 Main Street Bridgeport, CT 06604

Retail Investment Property For Sale at $3,120,000.00

OR AS PART OF A MULTI-PROPERTY PORTFOLIO

INVESTMENT OPPORTUNITY WITH A FORTUNE 500 COMPANY TENANT

Broker: Jon Angel President 203.335.6600. Ext. [email protected] C O M M E R C I A L , L . L . C .

A GELN2425 POST ROAD, SUITE 303, SOUTHPORT, CT 06890 • TEL 203.335.6600 • FAX 203.335.9900 • WWW.ANGELCOMMERCIAL.COM

No warranty of representation, express or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice and to any special listing conditions imposed by our principals.

FOR SALE 1739 Main Street Bridgeport, CT 06604 Contents

Page

3

4

5

6

7

8

9

11

13

Property Overview

Portfolio Description

PPG Industries Acquires Painter’s Supply

Location Map

Town Overview

Fact Sheet

Neighborhood Map

Zoning

Zoning Regulations OR (Office/Retail) - City of Bridgeport

Confidentiality Agreement

10

FOR SALE 1739 Main Street Bridgeport, CT 06604



A GELN2425 POST ROAD, SUITE 303, SOUTHPORT, CT 06890 • TEL 203.335.6600 • FAX 203.335.9900 • WWW.ANGELCOMMERCIAL.COM2425 POST ROAD, SUITE 303, SOUTHPORT, CT 06890 • TEL 203.335.6600 • FAX 203.335.9900 • WWW.ANGELCOMMERCIAL.COM

X 100% leased property offers 35,335 RSF on.85 acres

X Projected 2016 NOI: $254,000.06 withscheduled increases and 8% CAP rate

X Corporate Guarantee from Fortune 500Company, PPG Industries

X NNN lease with rate increases over theterm

X Individual asset from a multi-propertyportfolio

X Located at Route 8, Exit 3 entrance/exitramp

Retail Investment Property For Sale at $3,120,000.00

FOR SALE




Four Property Portfolio PPG Industries

ABOUT THE PORTFOLIO

Four Locations in Connecticut and Massachusetts

Angel Commercial, L.L.C. is pleased to offer the sale of the Southern New England Portfolio consisting of a total of four fully leased properties located in Connecticut (Bridgeport, Danbury,and Waterbury) and Massachusetts (Springfield). The portfolio is for sale in its entirety for $6,970,500.00 or asindividual assets. Total portfolio offers approximately 58,856 RSF. The projected2016NOIis$568,787.92withscheduledincreasesandaCAPrateof 8%.

Pittsburgh Paint (PPG Industries) assumed all four leases within this portfolio asa resultof theirpurchaseofPainter’sSupply.Asa$15.4billion,Fortune500 company, and global supplier of paints and specialty products, PPG Industries’ recent acquisition of Painter’s Supply strengthens this investment portfolio.

Each property is well maintained and located near or on main streets with excellent accessibility, visibility, demographics and ample parking. This portfolio offers an investor a rare opportunity to acquire four net leased assets in southern New England. Properties are located within shopping locations and have easy access to major highways.

ABOUT

PPG Industries (DBA, Pittsburgh Paint)

HeadquarteredinPittsburgh,PA,PPGIndustries(NYSE:PPG)isranked198ontheFortune500list(June2015)andannounced2014netsalesof$15.4billion.Withapproximately 46,100employeesworldwideand141manufacturingfacilities in 44 countries, PPG Industries is the leading global coatings and specialty products company.

Pittsburgh Paint is only one of PPG Architectural Coatings’ products. Other common products include; GLIDDEN®, LIQUID NAILS®, OLYMPIC® Paints and Stains, PPG PITTSBURGH PAINTS®, and MANOR HALL®. They distribute their products globally and are available at all major home improvement centers including Lowe’s, Home Depot and Walmart.

Portfolio Description

BRIDGEPORT

DANBURY

WATERBURY

SPRINGFIELD



C O M M E R C I A L , L . L . C .

A GELN2425 POST ROAD, SUITE 303, SOUTHPORT, CT 06890 • TEL 203.335.6600 • FAX 203.335.9900 • WWW.ANGELCOMMERCIAL.COM 2425 POST ROAD, SUITE 303, SOUTHPORT, CT 06890 • TEL 203.335.6600 • FAX 203.335.9900 • WWW.ANGELCOMMERCIAL.COM

News Release

News release taken from PPG Industries’ website

2014PPG ACQUIRES CONNECTICUT-BASED ARCHITECTURAL PAINT DISTRIBUTOR PAINTER’SSUPPLY

PITTSBURGH, June 2, 2014 – PPG Industries (NYSE:PPG) today announced that its North American architecturalcoatings business has acquired substantially all of the assets of Painter’s Supply, an independent architectural paintdistributor headquartered in Connecticut. Painter’s Supply operates 10 locations in Connecticut and Massachusetts.Financial terms were not disclosed.

“The acquisition of Painter’s Supply supports our dedication to our professional customers,” said Scott Sinetar, PPGvice president, architectural coatings, North America. “A fundamental part of our strategy is to expand distribution toprofessional painters and contractors.

“Independent dealers continue to be a key distribution channel for our business and our products, which is whywe’re investing more in our independent dealers now than ever before. However, when dealers are looking for apartner, PPG is constantly looking for ways to strengthen its network,” Sinetar continued.

PPG Architectural Coatings is an industry leader in residential and commercial coatings and products. The businessproduces paints, stains and specialty coatings marketed under well-recognized product lines such as the FLOOD®,GLIDDEN®, LIQUID NAILS®, MANOR HALL®, OLYMPIC®, PPG PITTSBURGH PAINTS®, PPG PORTERPAINTS®, PPG Paints and SIKKENS® brands. Its distribution network includes more than 900 company-ownedstores in North America, more than 5,000 independent dealer locations and all major home improvement centers.

PPG: BRINGING INNOVATION TO THE SURFACE.™PPG Industries' vision is to continue to be the world’s leading coatings and specialty materials company. Throughleadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumerproducts, and construction markets and aftermarkets to enhance more surfaces in more ways than does any othercompany. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries aroundthe world. Net sales in 2013 were $15.1 billion. PPG shares are traded on the New York Stock Exchange(symbol:PPG). For more information, visit www.ppg.com and follow @PPGIndustries on Twitter.

Bringing innovation to the surface is a trademark of PPG Industries Ohio, Inc.FLOOD, GLIDDEN, LIQUID NAILS, MANOR HALL, OLYMPIC, PPG PITTSBURGH PAINTS and PPG PORTER PAINTS are registered trademarks of the PPGgroup of companies.SIKKENS is a registered trademark of AkzoNobel.

Media:Mark SilveyPPG Corporate [email protected]

Investors:Vince MoralesPPG Investor [email protected]/investor

PPG Acquires Painter’s Supply

Broker: Jon Angel President 203.335.6600. Ext. [email protected]

FOR SALE




Four Property Portfolio PPG IndustriesLocation Map

BRIDGEPORT, CT

DANBURY, CT

SPRINGFIELD, MA

WATERBURY, CT

2

3

4 752PageBoulevard,SpringfieldMA01104

1225ThomastonAvenue,Waterbury,CT06704

211WhiteStreet,Danbury,CT06810

1739MainStreet,Bridgeport,CT06604

2

3

4

1

1

Bridgeport Connecticut 06604

C O M M E R C I A L , L . L . C .


Bridgeport, CTLocated in Fairfield County on the Long Island Sound, Bridgpeport is the largest city in Connecticut with a population of 144,229 (US Census 2010) and is the core of the Greater Bridgeport area. With a mixture of manufacturing, retail and corporate businesses, Bridgeport offers a diverse workforce, and unparalleled access to transportation options.

Major manufacturers,technology and health care companies have located in Bridgeport to take advantage of their many assets.

Bridgeport - The Park City, is home to an abundance of attractions…

• Connecticut’s Beardsley Zoo

• Webster Bank Arena and Ballpark at Harbor Yard

• Barnum Museum and Discovery Museum

• Two Frederick Law Olmsted-designed parks

• And more than 16 institutions of higher education within a 25-mile radius

Bridgeport’s largest employment sector, health care, boasts two of Connecticut’s finest and most successful hospitals, Bridgeport Hospital (Yale-New Haven Health System), and St. Vincent’s Medical Center (Ascension Health).

Fairfield County

Connecticut

Bridgeport

TOWN OVERVIEW







Fact Sheet

INVESTMENT OPPORTUNITY WITH A FORTUNE 500 COMPANY TENANT: 35,335 RSF retail property at traffic signal for sale. Single story building on 0.85 acres with basement and ample parking. Fully leased to single tenant, PPG Paints (formerly Painter’s Supply) with corporate guarantee from Fortune 500 company. The projected 2016 NOI is $254,000.06 with an 8% CAP rate.

Near top national retailers including Walgreens, Dollar General, Family Dollar, United Rentals, Subway, McDonald’s, Taco Bell, Advance Auto Parts, and Bass Pro Shops. Near local retailers including Dragone Classic Motor Cars and Bob’s Discount Furniture.

Located less than 1 mile from Route 8, Route 25, and the Bridgeport Amtrak / Metro North Train Station. Less than 1.5 miles to the Bridgeport/Port Jefferson Ferry and Webster Bank Arena.

The SiteTotal Building Size: 35,335 RSF

Space One: 14,500 RSF

Space Two: 20,835 RSF

Land:Real Estate Taxes: Zoning: Year Built:

Stories: Tenancy:Occupancy:

0.85 acres

$54,200.38 (2016)

OR

1976

1.5

Multiple

100%

Financial InformationCAP Rate: 8%

Projected 2016 NOI: $254,000.06

Three Mile DemographicsPopulation: 184,953

Median HH Income: $43,673

Five Mile DemographicsPopulation: 269,684

Median HH Income: $55,702

FeaturesTraffic Count: 8,923 Average Daily Traffic

Volume

Parking: 22 spaces

UtilitiesWater/Sewer: City/City

Heating: Gas



C O M M E R C I A L , L . L . C .


Neighborhood Map

1739 Main Street1739 Main Street

NEAR TOP NATIONAL RETAILERS INCLUDING:

RetailerDistance (miles)

Walgreens .4

United Rentals .4

Subway .7

Taco Bell .8

Enterprise Rent-A-Car .9

Dollar General .9

McDonald’s .9

Family Dollar 1

Advance Auto Parts 1.1

Bass Pro Shops 1.1

Burger King 1.4

Duchess 1.5

RETAILERS INCLUDING:

Dragone Classic Motor Cars .08

Bob’s Discount Furniture 1.1


Broker: Jon Angel

President

203.335.6600, Ext. 21

[email protected]

ANGEL C O M M E R C I A L , L . L . C .


No warranty of representation, express or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,

change of price, rental or other conditions, withdrawal without notice and to any special listing conditions imposed by our principals.

BRIDGEPORT, CT - OFFICE/RETAIL (OR)

Please visit the City of Bridgeport website for complete zoning regulations.

City of Bridgeport Connecticut

43

ARTICLE 6 OFFICE / RETAIL ZONES

Section 6-1 Office/Retail Zones

6-1-1 Purpose: The Office/Retail Base Zones established by these Regulations are:Office/Retail (OR), Office/Retail-General (OR-G); and Office-Retail Regional (OR-R). The different Office/Retail base zones are intended to reflect the diversity of Bridgeport's commercial areas. The zones are distinguished by the uses allowed and the intensity of development allowed. Some of the zones encourage office/retail areas that are supportive of surrounding residential neighborhoods, while other zones allow office/retail areas which have a city-wide or regional market. The regulations are intended to promote uses and development which will enhance the economic viability of the specific office/retail zone and the city as a whole.

6-1-2 Use Regulations:

a. Use Regulations: See Table 2, Use Table for Non-Residential Zones for allOffice/Retail base zones.

b. Use Categories: See Table 6, Use Categories for Non-Residential Zones.

6-1-3 Office/Retail Base Zone Development Standards: Zone Development Standards for allOffice/Retail Zones are set forth in Table 4, Zone Development Standards for Non-Residential Zones. Additional standards may be set forth as needed in other tables.

6-1-4 Additional Standards: The following standard (s) applies in all Office/Retail BaseZones:

a. Building Siting:1. New development must be compatible with a street-side, storefront character.

Buildings shall be pedestrian-oriented and aligned to the sidewalk.

2. Minimum 70% of the building length must meet the front setback line, except forspecial entry features, architectural articulation, plaza areas or any other publicspace existing or created by the development.

3. Buildings along multiple streets must meet the front setback line along all streetsto a minimum of 70% of building length. Angled building corners or open plazasare encouraged.

a. If the property has more than one street frontage the building must fromthe primary street or streets.

b. Regulations related to required percentage of window coverage andqualifying window features apply to commercial uses on all sides facingthe street.


Zoning regulations provided herein are subject to change without notice. Please visit the City of Bridgeport website to view current zoning regulations.


ORZoning Regulations

44

b. Ground Floor Windows:

1. Required Amounts of Window Area: In all OR zones, exterior walls on theprimary street frontages, ground level, must contain windows of two-way (non-mirrored) glass for a minimum of 75 percent of the building length (length x 0.75)with window coverage at 50 percent of street wall area [(length x height) x 0.5].Side/Secondary streets windows must contain a minimum of 40 percent ofbuilding length (length x 0.4) with window coverage at 30 percent of street wallarea [(length x height) x 0.3].

2. Qualifying Window Features: Required window areas must be either windowsthat allow views into retail stores, working areas or lobbies. Up to 50 percent ofrequired window areas may be used for merchandise display, except no displayshall be permitted in a use regulated in accordance with Table 6.6.1.

3. No adult entertainment facility shall be conducted in any manner that permits theobservation of any material depicting, describing, or relating to specified sexualactivities or specified anatomical areas, from any public way or from property notused as an adult entertainment facility. This shall include any display, decoration,sign, show window, or other opening.

Section 6-2 Office/Retail Zone (OR)

6-2-1 Purpose: The purpose of the Office/Retail (OR) Zone is to comply with the adoptedComprehensive Plan's recommendation for a zone to allow a mix of commercial, office, retail, and residential uses within the zone and within individual structures in areas that are served by arterial roads and are developed or are in the process of developing a commercial character, and where the local streets are predominantly residential. The Office/Retail (OR) zone is also intended to preserve and enhance established commercial areas in or near residential neighborhoods so that nearby residents can make use of small-scale retail and service uses. New development shall be compatible with a street-side, storefront character. The zone allows a wide range of retail, service and business uses with a local market, but restricts such uses in size to promote a local orientation and to limit adverse impacts on nearby residential areas. Development is intended to be pedestrian-oriented, with buildings close to and oriented towards the sidewalk (especially at corners), and compatible with the scale of surrounding residential areas. Parking areas are strictly regulated in order to promote compatibility with the character of surrounding residential development and the intended pedestrian orientation of the uses.

Section 6-3 Office/Retail General Zone (OR-G)

6-3-1 Purpose: The purpose of the Office/Retail General (OR-G) Zone is to comply with the adopted Comprehensive Plan's recommendation for a zone to allow a mix of predominantly auto-accommodating commercial, office, and retail development andresidential uses within the zone and within individual structures, in areas alreadypredominantly developed for this use. The zone allows a full range of retail and service

Zoning regulations provided herein are subject to change without notice. Please visit the City of Bridgeport website to view current zoning regulations.


ORZoning Regulations

City of Bridgeport Connecticut


THE TRUSTED SOURCE FOR COMMERCIAL REAL ESTATE


Re: Four (4) Property Portfolio (herein “Properties”)

This will serve to confirm our agreement concerning certain material, data andInformation (herein “Evaluation Material”) which the Owner will make available to us for study in connection with a possible purchase by us of the Properties.

The Owner is prepared to furnish us with the Evaluation Material in connection with discussions and negotiations concerning a possible transaction involving the Properties only on the conditions that we treat such Evaluation Material, discussions and negotiations, confidentially and confirm certain representations to you. Therefore as a prerequisite to The Owner furnishing the Evaluation Material to us, we hereby represent and agree as follows:

1. The Evaluation Material furnished to us will be used by us solely for evaluating a possible transaction exclusively for our own account,as principal in the transaction, and not as a broker or agent for any other person. Therefore, we agree to keep all Evaluation Materialstrictly confidential; provided, however, that any such Evaluation Material may be disclosed to our directors, officers or employees, aswell as our counsel, accounting firms and financial institutions who need to know such information for the purpose of assisting us withour possible purchase of the properties. Such directors, officers, lawyers, financial institutions and accountants shall be informed by usto treat such information with strict confidence.

We agree not to copy or duplicate the Evaluation Material and to return the Evaluation Material to the Owner promptly if requested byowner. We agree that the Owner of the Properties will have no adequate remedy at law if we violate any of the terms of this Agreement.In such event, the Owner will have the right in addition to any other right the Owner may have, to seek injunctive relief to restrain anybreach or threatened breach by us or specific enforcement of such terms.

In addition, we agree that we will not disclose and we will direct our representatives who are given access to the Evaluation Materialin accordance with the terms hereof, not to disclose to any person, the fact that the Evaluation Material in accordance with theterms hereof, not to disclose to any person, the fact that the Evaluation Material has been made available to us, that discussions ornegotiations among us and the Owner are now taking place or will take place, or any of the terms, conditions or other facts with respectto the possible acquisition of the Properties.

2. Although the Owner has endeavored to include in the Evaluation Material information which they believe to be relevant for the purposeof helping us in our evaluation of the Properties for possible purchase, we understand and acknowledge that neither the Owner nor anyof the respective affiliates or agents make any representation or warranty to us as to the accuracy or completeness of the EvaluationMaterial. We agree that the Owner, and their respective affiliates or agents shall not have any liability to us as a result of our use ofthe Evaluation Material and it is understood that we are expected to perform and are responsible for such due diligence investigationsand inspections of the Properties, including investigation of any environmental conditions, as we deem necessary or desirable and aspermitted by agreement with the Owner of the Properties.

3. We also represent that we have dealt with no other broker or agent other than Angel Commercial LLC in any discussions involving theProperties.

4. We agree to indemnify, defend and hold, the Owner and their respective affiliates harmless from and against all claims, loss, damagesexpense or liability (including reasonable attorney’s fees) arising from the breach of any of the terms of this Agreement by us or ourRepresentatives.

Company: ____________________________________

Address: ____________________________________

City, State, Zip: ____________________________________

Date: ____________________________________

CONFIDENTIALITY AGREEMENT

The properties covered by this Confidentiality Agreement are defined below:

OWNER PROPERTY

1739 Main Street, LLC1735 Main Street

Bridgeport, CT

211 White Street, LLC211 White Street

Danbury, CT

H&S Olson of Waterbury, LLC

1225 Thomaston AvenueWaterbury, CT

H&S Olson of Springfield, LLC

752 Paige BoulevardSpringfield, MA

Name: __________________________________________

Title: __________________________________________

Phone: __________________________________________

Email: __________________________________________

By: ___________________________________________ Signature

investment opportunity with a fortune 500 …...the fortune 500 list (june 2015) and announced 2014...

Documents