Surplus Bob Evans Properties

Valuation  Monetization  Advisory
ONLINE AUCTION: JUNE 11
Surplus Bob Evans Properties
Former Restaurant Locations and Residual Land Sites
STATE
ASSET
TYPE
Michigan City
Lancaster
Amherst
Celina
Columbus
IN
NY
OH
OH
OH
Land
Land
Land
Store
Land
N/A
N/A
N/A
3,635
N/A
16.22
2.36
2.15
1.77
1.61
$250,000
$236,000
$175,000
$300,000
$225,000
$100,000
$100,000
$50,000
$125,000
$100,000
$10,000
$10,000
$5,000
$10,000
$10,000
Granville
OH
Land
N/A
2.67
$400,000
$150,000
$10,000
Jeffersonville
OH
Land
N/A
3.32
$475,000
$75,000
$5,000
Lebanon
OH
Land
N/A
2.39
$325,000
$100,000
$10,000
Springboro
OH
Land
N/A
1.60
$250,000
$75,000
$5,000
Trotwood
OH
Store
5,227
1.21
$115,000
$25,000
$5,000
Upper Sandusky
OH
Land
N/A
6.55
$825,000
$200,000
$10,000
Wapakoneta
OH
Land
N/A
1.29
$345,000
$50,000
$5,000
Charlottesville
VA
Land
N/A
1.13
$699,000
$250,000
$10,000
CITY
BLDG LOT SIZE PREVIOUS LIST
SIZE (SF)
(AC)
PRICE
OPENING
BID
For more information please contact:
Jeff Azuse
Senior Vice President
Hilco Real Estate, LLC
Direct: 847-418-2703
jazuse@hilcoglobal.com
Steve Madura
Senior Associate
Hilco Real Estate, LLC
Direct: 847-504-2478
smadura@hilcoglobal.com
DEPOSIT
REQUIREMENT
3936 Frontage Road, Michigan City, IN
Property Summary
Lot Size:
16.22 AC
Zoning:
B-3 – Hwy Commercial Business Zoning
MSA:
Michigan City-La Porte MSA
Highlights:
Ideal retail tract set at intersection of US421 & I-94. Traffic generators include Olive
Garden, Wal-mart, OfficeMax, Lowe’s,
Chili’s & numerous hotel chains.
SITE
2014 Demographics
1-Mile
3-Mile
5-Mile
Est. Population
1,386
20,870
41,089
Est. Median Income
$31,838
$42,181
$43,099
Road/Intersection
VPD
I-94/US-421
51,511
6635 Transit Road, Lancaster, NY
Property Summary
Lot Size:
2.36 AC
Zoning:
GB – General Business
MSA:
Buffalo-Niagara Falls MSA
Highlights:
High visibility from I-90. Utilities available at
site. Exceptional development parcel. Less
than 3 miles from Buffalo Niagara Intl’ Airport.
2014 Demographics
1-Mile
3-Mile
5-Mile
Est. Population
2,837
50,414
152,091
Est. Median Income
$64,258
$60,477
$64,375
Road/Intersection
VPD
Transit Road/ Wehrle Drive
39,552
SITE
700 N. Leavitt Road, Amherst, OH 44001
SITE
2
Property Summary
Lot Size:
2.16 AC
Zoning:
C-2 – Commercial
MSA:
Cleveland-Elyria MSA
Highlights:
Immediately off OH-2 with access to I-90.
Area tenants include Chipotle, Motel 6, Bob
Evans, Subway, Days Inn & McDonalds.
2014 Demographics
1-Mile
3-Mile
5-Mile
Est. Population
5,816
49,469
88,452
Est. Median Income
$44,434
$42,193
$38,192
Road/Intersection
VPD
Leavitt Road/Kresge Drive
30,967
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510 East Market Street, Celina, OH 45822
Property Summary
Building Size:
3,635 SF
Lot Size:
1.77 AC
MSA:
Youngstown-Warren, OH-PA MSA
Highlights:
Waterfront property set on Grand Lake with
proximity to SR-29. Area co-tenants Include:
Taco Bell, Subway, McDonalds, Auto Zone
and a number of other national retailers.
SITE
2014 Demographics
1-Mile
3-Mile
5-Mile
Est. Population
4,617
22,657
65,795
Est. Median Income
$37,461
$44,821
$34,737
Road/Intersection
VPD
Market Street/Enterprise Street
14,054
1111 Rome-Hilliard Road, Columbus, OH 43228
Property Summary
Lot Size:
1.16 AC
Zoning:
C4 – General Commercial
MSA:
Columbus, OH MSA
Highlights:
Directly off exit for I-90 along strong retail
artery. Proximity to new Westpointe Plaza
featuring Wal-mart, Gander Mtn. & others.
2014 Demographics
1-Mile
3-Mile
5-Mile
Est. Population
10,532
72,836
176,305
Est. Median Income
$57,572
$57,315
$54,354
Road/Intersection
VPD
I-70/Hilliard Rome Road
103,411
1001 Cherry Valley Road, Granville, OH 43055
Property Summary
Lot Size:
2.67 AC
Zoning:
PCD
MSA:
Columbus, OH MSA
Highlights:
Almost 600’ of frontage along SR-16. Adjacent
to CoCo Key Water Resort, Arby’s, Wendy’s and
Speedway service station.
SITE
3
2014 Demographics
1-Mile
3-Mile
5-Mile
Est. Population
3,888
32,856
67,397
Est. Median Income
$67,170
$54,415
$44,941
Road/Intersection
VPD
State Route 16/Newark Granville Road
33,413
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11477 Allen Road, Jeffersonville, OH 43128
Property Summary
Lot Size:
3.32 AC
Zoning:
Highway Service
MSA:
Columbus, OH MSA
Highlights:
Tremendous retail location near intersection
of I-71 & US 35. Adjacent to Tanger Outlet,
as well as Bob Evans, McDonald’s, Chipotle
Wendy’s and a number of national hotels.
2014 Demographics
1-Mile
3-Mile
5-Mile
Est. Population
239
778
2,652
Est. Median Income
$43,214
$39,999
$36,902
Road/Intersection
VPD
I-71/US 35
39,340
99 Stubbs Mill Road, Lebanon, OH 45036
Property Summary
Lot Size:
2.39 AC
Zoning:
Neighborhood Commercial
MSA:
Youngstown-Warren-Boardman, OH-PA MSA
Highlights:
Immediately off exit for SR 48 and along
strong retail corridor. Area tenants include
Bob Evans, McDonald’s, Burger King & others.
2014 Demographics
1-Mile
3-Mile
5-Mile
Est. Population
7,374
24,059
37,411
Est. Median Income
$66,677
$64,257
$65,488
Road/Intersection
VPD
SR 48/Main Street
19,011
SITE
Route 48 & Lytle Five Points Road, Springboro, OH 45066
Property Summary
Lot Size:
1.16 AC
Zoning:
B-1 (Highway Business District)
MSA:
Dayton, OH MSA
Highlights:
Set at the intersection of two major state routes, this
site is surrounded by a number of local businesses,
as well as several newer residential subdivisions.
SITE
4
2014 Demographics
1-Mile
3-Mile
5-Mile
Est. Population
1,970
25,630
80,743
Est. Median Income
$118,191
108,842
74,609
Road/Intersection
VPD
State Route 48/E Lytle-Five Points Road
11,362
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5560 Salem Bend, Trotwood, OH 45426
Property Summary
Building Size:
6,116 SF
Lot Size:
1.22 AC
Zoning:
RB – Regional District
MSA:
Dayton, OH MSA
Highlights:
Exceptional visibility along SR 49. Proximity
to community shopping centers. Tenants
include Office Depot, McDonald’s, Lowe’s,
Chase, Pep Boys & Home Depot.
2014 Demographics
1-Mile
3-Mile
5-Mile
Est. Population
7,316
44,457
100,551
Est. Median Income
$37,992
$43,898
$38,795
Road/Intersection
VPD
Salem Avenue (SR 49)/Olive Road
18,410
1730 E. Wyandot Avenue, Upper Sandusky, OH 43351
Property Summary
Lot Size:
6.55 AC
Zoning:
Commercial
MSA:
N/A
Highlights:
Large parcel with immediate access to US-30
and high visibility. Adjacent to Bob Evans,
Days Inn & Suites, Wal-mart Supercenter,
Taco Bell, Arby’s, & Speedway.
2014 Demographics
1-Mile
3-Mile
5-Mile
Est. Population
366
6,318
8.707
Est. Median Income
$47,876
$42,260
$43,933
Road/Intersection
VPD
US-23/Wyandot Avenue
12,334
SITE
1550 Saturn Drive, Wapakoneta, OH 45895
SITE
5
Property Summary
Lot Size:
1.29 AC
CSA:
Lima-Van Wert-Celina, OH CSA
Highlights:
Prime corner directly off I-75 exit. Wal-Mart
Supercenter, Wendy’s, Pizza Hut &
McDonald’s nearby. Also adjacent to
Armstrong Air & Space Museum.
2014 Demographics
1-Mile
3-Mile
5-Mile
Est. Population
2,643
11,769
14,367
Est. Median Income
$42,246
$49,718
$51,537
Road/Intersection
VPD
I-75/US 33
34,435
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Highway 29 & Timberwood, Charlottesville, VA 22911
SITE
Property Summary
Lot Size:
1.13 AC
Zoning:
PD Commercial
MSA:
Charlottesville, VA MSA
Highlights:
Excellent visibility along I-29. Pad site
within newer Hollymead Town Center.
Center tenants include Target, Kohl’s,
Bonefish Grill, Panera Bread. The property
offers proximity to Charlottesville-Albemarle
Airport and the Martha Jefferson Hospital.
2014 Demographics
1-Mile
3-Mile
5-Mile
Est. Population
3,668
13,493
32,217
Est. Median Income
$78,958
$89,792
$77,138
Road/Intersection
VPD
Seminole Trail (I-29)/Airport Road
34,247
The properties within this offering consist of prime development sites in high traffic areas,
many at major interstate exits with high visibility and strong demographics. These prime sites
will be offered via online auction on June 11.
After reviewing this information, please contact us should you have any questions.
Jeff Azuse
Senior Vice President
Hilco Real Estate, LLC
Direct: 847-418-2703
jazuse@hilcoglobal.com
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Steve Madura
Senior Associate
Hilco Real Estate, LLC
Direct: 847-504-2478
smadura@hilcoglobal.com
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AUCTION FORMAT: All bidding will be conducted online. Bidding will open on June 11, 2015
at 9:00 am CT. Each property will be sold individually. To bid during the auction, you need to register
online at http://auctions.hilcoreal.com, click “View this Auction”, then click on the “Register” button in
the upper left hand corner. Once the registration form is completed, you will receive an email
acknowledging your registration, you will then need to go the “Documents” tab, complete all
requirements and be approved by the transaction team in order to bid. Please call our Auction
Information Line at 855-755-2300 or email info@hilcoreal.com for further instructions. See the Bid
Approval Process at the end of this document.
AUCTION DATE/LOCATION: The auction will be conducted online. Bidding will open at 9:00 a.m.
CT on June 11th and will close at 3:00 p.m. CT. You will need to be registered and be approved to
bid by our transaction team, which requires accepting the Terms of Sale, accepting the Purchase and
Sale Agreement and depositing the required initial earnest money deposit as shown in the table
above.
CERTIFIED FUNDS OR WIRE TRANSFERRED FUNDS ARE REQUIRED: Deposits in the amount
outlined in the above table, as an initial down payment are required to bid at the auction. If you plan
to bid on multiple properties then the certified funds listed above will need to be multiplied by the
number of properties you plan to bid on. Online bidders are required to mail, overnight or wire
transfer funds to Hilco, Attn: Jeff Azuse, 5 Revere Drive Suite 320, Northbrook, IL 60062. Initial
deposit checks or wire transfers will be accepted up to Wednesday, June 10, 2015. For wiring
instructions please email info@HilcoReal.com. Upon the conclusion of bidding and the Seller’s
acceptance of the Purchase and Sale Agreement, the funds will be deposited as earnest money as
provided in the Purchase and Sale Agreement. If you are not the winning bidder, your funds will be
returned to you.
DOCUMENTS AVAILABLE: Due Diligence information on all the properties is available online in
our property specific auction page and includes the Purchase and Sale Agreement, detailed property
information, and other applicable information. To gain access to the due diligence documents you
need to register on our online site by going to http://auctions.hilcoreal.com/ clicking on the property
you are interested in and then clicking on the “Register” button located on the top left hand side of the
page. Once registered, you will receive an acknowledgement email, login with your email and
password created and you will then have access to the “Documents” tab which has all the due
diligence information. Seller, Seller’s Broker and Auctioneer shall not be liable for any inaccuracy
contained in any reports furnished to buyers originating from third party experts
ATTORNEY REVIEW: All information contained in the auction-related marketing material should be
carefully reviewed by an attorney prior to the auction and is subject to and may be superseded by the
Purchase and Sale Agreement for signature at the auction.
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REQUIREMENTS OF THE SUCCESSFUL HIGH BIDDER: The successful high bidder will be
required to (a) be available within an hour of the end of the auction to receive and execute with no
modification the Purchase and Sale Agreement properly filled in with the undersigned name and
contact information along with the High Bid price, Buyer’s Premium (Fee), and Total Purchase Price;
(b) deliver the executed Agreement to auctioneer via fax or email immediately following the end of
the auction; (c) within 24 hours deliver an original fully executed Purchase and Sale Agreement to
the designated title or escrow company; (d) allow the initial earnest money to be deposited in
accordance with the terms of the Purchase and Sale Agreement; and (e) agree that they will increase
their earnest money to 10% of the Total Purchase Price within three (3) business days after Seller’s
acceptance.
BUYER'S PREMIUM: Auction purchasers shall pay a Buyer‘s Premium equal to 10% of the High Bid
Price. This amount shall be added to the High Bid and the sum will be the Total Purchase Price in the
Purchase and Sale Agreement.
BACK-UP BIDDER: The next highest bid below the Successful High Bidder is considered a Back-Up
Bidder and may be invited to sign and deliver via fax or email to the auctioneer the approved
Purchase and Sale Agreement in the amount of their Total Purchase Price upon the conclusion of
bidding. The Back-Up Bidder’s Initial Down Payment will be held until 5:00 pm CST, three (3)
business days following the Seller’s acceptance of an offer, at which time it will a) be returned to the
Back-Up Bidder upon escrow’s receipt of the Winning Bidder’s additional earnest money or b)
become immediately non-refundable upon default of Winning Bidder; then the Back-Up Bidder will be
notified by escrow that the Seller has accepted their Purchase and Sale Agreement. If the Back-Up
Bidder’s Initial Down Payment is less than 10% of its Total Purchase Price, then it MUST be
increased to 10% of its Total Purchase Price by cashier’s check or wired funds within three (3)
business days of notification.
AUCTION PROCEDURES
RESERVE OFFERING: All of the properties are being offered with reserve. The final high bid is
subject to Seller approval. The Seller shall have three (3)-business days to review the high bid and
decide whether to accept or reject it, during this review period the offer is irrevocable by the
Purchaser. The Suggested Opening Bid in our material is just where the bidding will start, it is not a
reserve price and does not obligate the Seller to accepting a price at the opening bid.
CLOSING DATE: The Standard Closing Date shall be 30 days after the Seller’s acceptance
.
INSPECTION: Each property is being offered for sale in its existing condition subject to the terms of
the Purchase and Sale Agreement.
The Purchaser may not rely upon any disclosures,
representations or warranties other than those provided in the Agreement. We recommend you
thoroughly inspect the property prior to the auction. Those inspecting the property assume all risk
associated with any inspection.
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CONDUCT OF THE AUCTION: Conduct of the auction and increments of bidding are at the direction
and discretion of the Auctioneer. In the event of a dispute between bidders, the Auctioneer shall make
the final decision to accept the final bid, to re-offer and re-sell the property, or to remove the property
from the auction. If any disputes should arise following the auction, the Auctioneer's records shall be
conclusive in all respects.
SELLER’S AGENT: Hilco Real Estate, LLC, its cooperating brokers, and all licensees employed by or
associated with Hilco Real Estate, LLC who are involved with this auction, represent the Seller in this
real estate transaction. In Cooperation with Michael Conner, Indiana Broker #RC51200028; Steven
Mathis, New York Broker #10351208317; Fernando Palacios, Virginia Broker #0225069387; Terrapin
Realtors Inc, Virginia Broker Firm #0226021477; Dutton Real Estate Services, LLC; Joel Dutton, OH
Broker, Jared Dutton, OH Auctioneer.
BROKER PARTICIPATION: A real estate broker licensed in the property’s state whose client agrees to
broker’s representation, whose client attends the on-site Inspection with the broker the first time its client
attends an on-site inspection and who complies with these Terms of Sale shall be entitled to a referral
fee of 2% of the High Bid Price at auction upon the successful closing by its client. Broker fees are
subject to change per property. Broker registration of its client will occur at said first client’s on-site
inspection or upon auctioneers receipt of a Brokers Buyer Representation letter signed by client and a
copy of the registration will be given to the broker. No broker registration of a client-prospect will be
granted if the client was previously contacted by Auctioneer or if prospect previously contacted
Auctioneer during the conduct of the auction marketing campaign. No broker registration will be granted
to a broker that is participating in the sale either directly or as an equity partner.
DISCLAIMER: The Seller and Auctioneer and their agents assume no liability for inaccuracies, errors or
omissions in the auction marketing materials, including the Virtual Deal Room. ALL SQUARE FOOTAGE,
ACREAGE, DIMENSIONS, ZONING, COMMON AREA CHARGES (IF, ANY), AND TAXES IN THIS AND
OTHER MARKETING MATERIALS ARE APPROXIMATE. This offering may be withdrawn, modified or
canceled without notice at any time. This is not a solicitation or offering to residents of any state where this
offering is prohibited by law.
Hilco Real Estate provides advisory and transactional services and capital to
the world’s leading institutions, organizations and private buyers.
Acting as an
agent or principal, the experts at Hilco have mastered techniques to derive maximum
value from the monetization of real estate assets, specializing in lease restructuring and owned
property disposition. Hilco sells millions of square feet of real estate annually for companies in any
stage of transition under every imaginable circumstance.
Hilco Real Estate is a unit of Hilco Global, a world leader in asset valuation, monetization and advisory
services.
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www.hilcoglobal.com
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BID APPROVAL PROCESS
1) REGISTER ONLINE
Go to http://auctions.hilcoreal.com, click “View this Auction”, click on the green “Register” button
in the upper left corner, then complete the brief registration form. Once submitted, you will
receive a registration acknowledgement email containing a link used to verify your email
address.
2) REVIEW AND EXECUTE THE ONLINE AUCTION AGREEMENT
The Online Auction Agreement can be found under the “Documents” tab on the bidding page.
This document must be reviewed, signed, and returned via email to info@HilcoReal.com or
faxed to 847- 897-0826 prior to bidding.
3) PROVIDE THE DEPOSIT
To participate in the auction, bidders are required to wire-transfer (instructions provided in the
Documents Tab) or overnight an initial deposit for each property on which they are bidding.
Deposit amounts vary for each property and are detailed in the Terms of Sale located in the
“Documents” tab. If you win the bid, your deposit will be applied towards the earnest money
deposit. If your bid is not accepted, your deposit will be refunded following the auction. Please
see the “Documents” tab for the wiring instructions.
4) PLACE A BID
Once we have received the signed Online Auction Agreement and the initial deposit, you will
receive an email approving you to bid. Next, login to the auction page using the email address
and password you created during the registration process, enter your bid amount at or above
the next available bid increment, then click “Place Bid.”
5) CLOSING
If you are the winning bidder, you will be contacted immediately upon the conclusion of bidding
to sign the Purchase and Sale Agreement and discuss closing the transaction. The Standard
Closing Date will be on or before July 28, 2015. Please review the Terms of Sale located in the
“Documents” tab for additional information.
If you have any questions, please call Hilco Real Estate at 855-755-2300 or email
info@HilcoReal.com.
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