Connersville Pack OM

2100 N PARK ROAD, CONNERSVILLE, IN 47331
WHITEWATER TRADE CENTER

VALUE ADD TEN X AUCTION MARCH 23RD
Whitewater Trade Center-Value Add Ten X Auction I $431,876 NOI / Junior Box Vacancy

BEN HAMD BROKER OF RECORD
Direct: 202.525.8991 Brian Brockman

Email: ben@brookwoodcapitaladv.com Bang Realty
www.brookwoodcapitaladv.com IN Lic #RB14037939
Stabilized asset with Tractor Supply early 10 year lease extension
in 2018 until 2028 showing long term commitment to the site 
Value add with junior box available directly adjacent to TSC
 Planet Fitness submitted LOI for junior box in 2019, but ownership
didn’t pursue due to TI concerns-offering an investor immediate
upside to pursue that deal 
55% of roof under brand new warranty (Warranty in 2019);

remaining was re-done in 2013 
$600,000 of improvements in the last five years with $250,000 in

2019 alone such as LED parking lot lights, roof coatings (under
warranty), parking lot seal coat and re-stripe, new monument
signage
$431,876 NOI 
St
Strong tenant store sales showing high producing consistent
site-Store Sales available for Label Shopper and Subway
Lease up strategy yielded several relocations from existing tenants

in the market attracted to the strong co-tenancy, national
presence, and capital improvements over last few years
BEN HAMD
Direct: 202.525.8991
Email: ben@brookwoodcapitaladv.com
www.brookwoodcapitaladv.com
INVESTMENT HIGHLIGHTS
Outparcel building leased to regional physical rehabilitation

included in sale which underwent complete renovation and new
15 year roof warranty 
SIGNIFICANT LEASE UP
Within the past two years
Junior anchor box vacant with new LED lights and bathroom build
out ready for immediate lease up
Significant lease up in last two years with tenants relocation from

DIVERSE RETAIL other neighboring shopping centers
Mix of restaurants, retail, etc.
Limited tenant turnover: 50% of tenants have occupied center for
ten plus years
LOW TENANT TURNOVER Strong mix of retail, restaurant, discount retail, and service based
10+ years occupancy businesses
Junior anchored
ancho by strong nationals and regionals including Label
Shopper (81 stores) Midwest Surplus Liquidators (3 stores),
Bargaintown Grocery (3 stores)
NATIONAL STORES
Label Shopper, etc.
BEN HAMD
Direct: 202.525.8991
SITE MAP
BEN HAMD
Direct: 202.525.8991
RENT ROLL & TENANT LEASE SUMMARY
Lease % OF Current Lease Base Expense Lease Net

Tenant Suite Type Area NRA Lease Term End Date Rent Recoveries Structure Cash Flow
Tractor Supply Co 1 Retail 22,830 16.10% 1/1/2019 10/31/2028 102,732.00 30,768.00 NNN 133,500
Vacant 2 Retail 13,170 9.29% - - - - Gross 0
Vacant 3 Retail 1,200 0.85% - - - - Gross 0
Subway 4 Retail 1,680 1.19% 10/15/2009 3/31/2023 29,507.21 1,213.58 NNN 30,721
Cove Gaming 5 Retail 1,920 1.35% 2/1/2020 2/28/2022 5,400.00 0 Gross 5,400
Label Shopper 3 Retail 8,000 5.64% 3/8/2014 3/7/2024 48,000.00 0 Gross 48,000
Bargaintown Grocery
Ba 7 Retail 3,039 2.14% 3/1/2020 3/31/2025 120,000.00 0 Gross 120,000
World’s Finest Wrestling 8 Retail 4,140 2.92% 2/1/2020 2/28/2027 19,200.00 0 Gross 19,200
Yodies Frozen Yogurt 6 Retail 1,200 0.85% 6/30/2014 8/31/2023 9,300.00 866.84 NNN 10,167
Asian Delight 5 Retail 1,200 0.85% 6/30/2014 2/28/2023 23,748.00 866.84 Gross 24,615
Discount Home Improvement 9 Retail 5,000 3.53% 2/1/2020 2/28/2025 18,000.00 0 Gross 18,000
Matt Sullivan Landscaping 13 Retail 1,500 1.06% 2/1/2020 6/31/2020 600.00 0 Gross 600
Wheelhouse Pizza 12 Retail 1,500 1.06% 10/1/2019 4/30/2025 24,000.00 1,083.55 NNN 25,084
Midwest Surplus Liquidators 10 Retail 72,687 51.27% 12/1/2019 12/30/2025 84,000.00 0 Gross 84,000
Whitewater Rehab Outparcel Retail 2,704 1.91% 2/1/2020 2/28/2023 15,000.00 0 Gross 15,000
Total 141,770 100% 499,487 $33,715 $534,286
BEN HAMD
Direct: 202.525.8991
OPERATING EXPENSES
Ten X Auction (Expected Higher Return with Value Add)
Roof Age: 55% of roof is 2019, remaining was re-done in 2013
Square Footage: 141,770

CURRENT OPERATING EXPENSES
Acreage: 22.57 acres Utilities 4,800
Landscaping & Snow Removal* 2,794

Year Renovated: 2013 & 2019
Repairs & Maintenance 21,095
Insurance 11,089
Year built: 1991
Management 11,000
Occupancy: 90% Taxes 51,632
Total Operating Expenses $102,410

Net Operating Income: $431,876
Total Net Income $431,876
*Matt Sullivan does landscaping in return for

reduced rates-this reflects snow removal costs
BEN HAMD
Direct: 202.525.8991
VALUE ADD & LEASE UP STRATEGY
The center’s junior box is currently

unoccupied after receiving several LOI’s from a
Planet Fitness operator, and receiving significant
capital improvements in 2019. The space has new LED
dome lights, new retail entrance, and new restrooms to
accomodate a retailer. It is directly adjacent to Tractor
Supply and affords quality investors with immediate lease up
potential. The center has benefited from a relocation of four
different businesses to the site from competing shopping
centers because of it’s high visibility and capital
improvements over the last three years.
BEN HAMD
Direct: 202.525.8991
MAJOR CAPITAL IMPROVEMENTS
Throughout 2019 the center was totally seal coated and major parking lot repairs took place including
patching and crack filling problem areas that plagued the center. The center had a brand new roof installed
in 2019 which is under warranty, and brand new high efficiency LED lights were installed in the parking lot
to reduce energy costs and boost visibility.
 
Midwest Surplus Liquidators, a regional chain signed a lease on the former Wal-Mart space, which
received a brand new roof, brand new LED lights, and concrete floor. In addition Whitewater Rehabilitation
(a regional chain of physical therapy offices) completely rebuilt their outparcel building including new
flooring, windows, HVAC, roof (under warranty), and interior lighting.
Midwest Surplus Roof Coating & Whitewater Rehabilitation

Roof Coating: $125,000
Midwest Surplus interior buildout (LED lights, new bathrooms,

drywall, drop ceiling, concrete floors): $89,000
Vacant space adjacent to TSC build out (high efficiency LED, bathroom
build out, door expansion, new electrical service): $16,600
Seal Coat and Stripe Parking Lot: $38,400
High efficiency LED parking lot lights: $10,800
BEN HAMD
Direct: 202.525.8991
TRACTOR SUPPLY
OVERVIEW
Tractor Supply is an 1,800+ store chain with revenues topping $7.9 billion dollars annually. The company
demonstrated their commitment to this site by extending their lease early until 2028. The store benefits
from an updated LED lighting packaged, seal coated and re-striped parking lot as well as a prime location
in Connersville.
HIGHLIGHTS
• $7.9 billion dollars annual revenue

• 1,800+ store chain
• Updated lighting & parking lot
• Website: https://www.tractorsupply.com/
LEASE SUMMARY
Lease Commencement: 1/1/2013
Lease Termination: 10/31/2028
Lease Type: NNN Lease
Reimbursements: Tenant reimburses for it’s CAM, taxes, insurance,
management and other NNN costs associated with its space.
BEN HAMD
Direct: 202.525.8991
LABEL SHOPPER
OVERVIEW
Label Shopper is a privately held national discount clothing retailer with over 81+ stores. The company
focuses on offering everyday clothing at value pricing, and has a long history of success in Indiana, and
at this site. The company reports store sales at this location and has a strong rent to sales ratio of 6.9%
HIGHLIGHTS
• 81+ locations across the United States 

• Discount clothing retailer with strong history in Connersville
• 6.9% rent to sales ratio demonstrating their profitability at this site
• Website: https://www.labelshopper.com/
LEASE SUMMARY
Tenant: Label Shopper
Lease Type: Gross Lease
Reimbursements: No NNN reimbursements
BEN HAMD
Direct: 202.525.8991
MIDWEST SURPLUS LIQUIDATORS
OVERVIEW
Midwest Surplus Liquidators is a private company with 3 stores in Indiana. The company purchases
discounted truckloads of furniture, and sells both wholesale truckloads and individual pieces to
customers. Midwest Surplus selected Connersville for it’s expansion due to it’s proximity to eastern
Ohio where a significant number of its wholesale buyers are at place. They utilize over 72,000 SF for
warehouse style bargain retail, as well as truckload sales to their wholesale customers.
HIGHLIGHTS
• 3+ locations
• 72,000+ Wholesale customers through their social media pages
• Website: https://www.midwestsurplusliquidators.com/
LEASE SUMMARY
Reimbursements: No NNN remibursements
BEN HAMD
Direct: 202.525.8991
BARGAINTOWN GROCERY
OVERVIEW
Bargaintown Grocery is a regional overstock grocery store with three units. The company buys
truckloads of grocery merchandise at large volumes and discounts to sell at 30% to 90% off a
traditional grocery store.
HIGHLIGHTS
• 3 locations
• Salvage and overstock retailer contributing to the discount focus of the co-tenancy
• Website: https://www.bargaintowngrocery.com/
LEASE SUMMARY
Tenant: Bargaintown Grocery
BEN HAMD
Direct: 202.525.8991
WHITEWATER REHABILITATION
OVERVIEW
Whitewater Rehabilitation is a regional physical therapy clinic with two locations in central Indiana, and
over 15+ years of operational history. The company leased the outparcel building, which included an all
new interior buildout of flooring, electrical, lighting, HVAC package, bathroom, and facade improvements.
The roof is also under a 15 year warranty as well showing their ongoing commitment to the site. The
governor of Indiana attended their grand relocation in Connersville as a model of investment in
central Indiana.
HIGHLIGHTS
• Two unit physical therapy chain

• Brand new exterior and interior buildout showing commitment to site
• Website: https://www.whitewatervalleyrehab.com/
LEASE SUMMARY
Reimbursements: No NNN remibursements
BEN HAMD
Direct: 202.525.8991
WHEELHOUSE PIZZA &
YODIES FROZEN YOGURT
OVERVIEW
Yodie’s Frozen Yogurt has had a strong history of operation since 2014. The owners recently expanded
their business offering and took another suite for a take and bake pizza concept they developed called
Wheelhouse Pizza. The synergy between the two businesses, the lease extensions, and the extensive
build out completed by the tenant demonstrates their ongoing commitment to the site.
HIGHLIGHTS
• Two businesses in shopping center under same operators

• Strong offering of pizza and dessert
• Tenant has been in operation in site for 6 years, and recently
extended and expanded business
LEASE SUMMARY
Lease Type: N/A
Reimbursements: CAM, taxes, insurance, management and other
NNN costs associated with its space.
BEN HAMD
Direct: 202.525.8991
ASIAN DELIGHT
OVERVIEW
Asian delight has been operating at this site since 2014. Asian Delight is a regional Chinese restaurant.
HIGHLIGHTS
• Regional Chinese restaurant

• Operating at this site since 2014
LEASE SUMMARY
Tenant: Asian Delight
Reimbursements: CAM, taxes, insurance, management
and other NNN costs associated with its space
BEN HAMD
Direct: 202.525.8991
DISCOUNT HOME
IMPROVEMENT WAREHOUSE
OVERVIEW
Discount Home Improvement Warehouse is an overstock discount store focused on building materials
and home improvement goods. The company relocated to this site, after seeing the significant
advantage to the existing co-tenancy, and has signed a 7 year term.
HIGHLIGHTS
• Overstock discount store focused on building materials and home improvement goods
• Company relocated to this site, after seeing the significant advantage to the existing co-tenancy
• Tenant signed 7 year term
• Website: https://www.homeimprovementwarehousein.com/
LEASE SUMMARY
Tenant: Discount Home Improvement Warehouse
BEN HAMD
Direct: 202.525.8991
WORLD’S FINEST WRESTLING
OVERVIEW
World’s Finest Wrestling is a live wrestling show and weekly entertainment source for the city of
Connersville. World’s Finest Wrestling relocated to this site from another shopping center, because of the
attractive co-tenancy, and improvements made to the shopping center. They currently occupy 5,000 SF.
HIGHLIGHTS
• Weekly entertainment source for the city of Connersville

• Relocated to this specific site from another shopping center
• Currently occupies 5,000 SF
• Website: https://www.worldsfinestwrestling.com/
LEASE SUMMARY
Tenant: World’s Finest Wrestling
BEN HAMD
Direct: 202.525.8991
COVE GAMING
OVERVIEW
Cove Gaming is a gaming based businesses that relocated from the Save A Lot anchored shopping
center to this site. Cove Gaming sells board games, magic cards, and holds weekly tournaments; the
company also rents gaming computers by the hour.
LEASE SUMMARY
BEN HAMD
Direct: 202.525.8991
MATT SULLIVAN LANDSCAPING
OVERVIEW
Matt Sullivan has been the center landscaper, and in return for continuing landscaping he receives
reduced rents in the shopping center.
LEASE SUMMARY
Tenant: Matt Sullivan Landscaping
BEN HAMD
Direct: 202.525.8991
DEMOGRAPHICS
CONNERSVILLE, IN
Connersville, Indiana is the county seat of Fayette county, and is the largest
city within the county. The household income is just over $60,000 annually;
with a strong customer base for the home goods, clothing, food, and service
based users in the shopping center. With over 26,000 people in a 10 mile
radius and strong employment of 3.7%.
CONNERSVILLE PROFILE 3 MILE 5 MILES 10 MILES
BEN HAMD
Direct: 202.525.8991
AUCTION DETAILS
The sale of Whitewater Center located in the city of Connersville, Indiana, will take place through a secure online open bid web portal on the
Ten-X.com web platform (“The Auction”). The auction is scheduled to begin March 23, 2020 with the closing time for all bidding to fall be-
tween 1:00 PM and 5:00 PM (Easter Standard Time) on March 23, 2020. THIS SCHEDULE IS SUBJECT TO FURTHER REVISION BY THE
SELLER AND/OR TEX-X.COM IN THEIR SOLE AND ABSOLUTE DISCRETION. ALL PROSPECTIVE BIDDERS ARE ENCOURAGED TO
FREQUENTLY CHECK THE SPECIFIC PROPERTY LANDING PAGE ON THE TEN-X.COM WEBSITE FOR ANY CHANGES.
GETTING STARTED BECOME AN APPROVED BIDDER

1. Create a free profile at: 1. Click on “Register To Bid”
https://www.ten-x.com/commercial/signup 2. Answer qualification form
2. Once you have confirmed your email, return to www.Ten-X.com 3. Submit the following to the Ten-X.com registration team via fax
homepage, use the search box at the top and search or email:
“WHITEWATER CENTER” a. Proof of Funds
3. Find a specific asset webpage by selecting the photo or asset b. Bidding/Purchasing entity documentation that
address within the search list, here you are able to view
add provides legal authority to sign a contract on behalf of
property details, photos, and due diligence materials the entity. (Including a Certificate of Good Standing
along with a copy of the Corporate Resolution).
4. Submit fully refundable participate deposit
ACCESSING DUE DILIGENCE MATERIALS CONTACT INFORMATION

1. On the asset webpage, scroll down to “Document Vault” For all details and Auction Terms and Conditions, visit
2. If you “Agree” with the terms of the digital Confidentiality www.Ten-X.com. For Auction related questions, please contact:
Agreement, simply click accept to be granted access to the
Document Vault Ben Hamd
3. Review Due Diligence items for the property. Contact listing Client Manager
broker with any questions
4. There will be no due diligence contingency period allowed
for the winning bidder
BEN HAMD
Direct: 202.525.8991
The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used
for any other purpose. The only party authorized to repre-sent the Property Owner (“Owner”) in connection with the sale of the Property is the
Brookwood Capital Advisors and the broker of record listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any
representations other than contained in this Investment Offering Brochure. Neither the Investment Associate nor the Owner make any representation or warranty,
express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or
representation as to the future performance of the Property. This Offering Brochure may include certain statements and estimates by Brookwood Capital Advisors with
respect to the projected future performance of the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such
estimates will be achieved. Further, the Investment Associate and the Owner disclaim any and all liability for representations or warranties, expressed or implied, con-
tained in or omitted from this Investment Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. To the extent
Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as
binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.
BEN HAMD
Direct: 202.525.8991
Email:
ben@brookwoodcapitaladv.com

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2100 N PARK ROAD, CONNERSVILLE, IN 47331

WHITEWATER TRADE CENTER

Direct: 202.525.8991 Brian Brockman

Value add with junior box available directly adjacent to TSC

55% of roof under brand new warranty (Warranty in 2019);

$600,000 of improvements in the last five years with $250,000 in

Lease up strategy yielded several relocations from existing tenants

Outparcel building leased to regional physical rehabilitation

Significant lease up in last two years with tenants relocation from

Lease % OF Current Lease Base Expense Lease Net

Vacant 2 Retail 13,170 9.29% - - - - Gross 0

Vacant 3 Retail 1,200 0.85% - - - - Gross 0

Total 141,770 100% 499,487 $33,715 $534,286

Ten X Auction (Expected Higher Return with Value Add)

Roof Age: 55% of roof is 2019, remaining was re-done in 2013

Square Footage: 141,770

Acreage: 22.57 acres Utilities 4,800

Landscaping & Snow Removal* 2,794

Occupancy: 90% Taxes 51,632

Total Operating Expenses $102,410

*Matt Sullivan does landscaping in return for

The center’s junior box is currently

Midwest Surplus Roof Coating & Whitewater Rehabilitation

Midwest Surplus interior buildout (LED lights, new bathrooms,

Seal Coat and Stripe Parking Lot: $38,400

High efficiency LED parking lot lights: $10,800

• $7.9 billion dollars annual revenue

• 81+ locations across the United States

• Two unit physical therapy chain

• Two businesses in shopping center under same operators

• Regional Chinese restaurant

• Weekly entertainment source for the city of Connersville

CONNERSVILLE PROFILE 3 MILE 5 MILES 10 MILES

GETTING STARTED BECOME AN APPROVED BIDDER

ACCESSING DUE DILIGENCE MATERIALS CONTACT INFORMATION

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• 81+ locations across the United States 