NNN natural grocers with attractive increases

Transcription

1 NNN natural grocers with attractive increases [ actual store ] Kansas city infill location - publicly traded company 88k population and $77k incomes within 3 miles 6819 Johnson Drive, Mission, Kansas Click for Map [ ]

2 PROperty Summary Listing Team Contact Info NEWLY BUILT NATURAL GROCERS located IN a growing, HEAVILY TRAFFICKED kansas city metro area. strong retail synergy and incomes that exceed $77,000 within 3 miles. PRICE: $6,487,500 CAP: 6.00% Rentable SF...15,000 SF land area Acres YEAR BUILT Current Rent...$25.95/SF RICK SANNER rsanner@capitalpacific.com (415) CA BRE# bob SANNER bsanner@capitalpacific.com (415) CA BRE# aaron susman asusman@capitalpacific.com (415) CA BRE# john andreini jandreini@capitalpacific.com (415) CA BRE# In Conjunction with KS Licensed Broker: Mark McPherson, Equity Ventures Commercial, Inc. mmcpherson@equityventurescd.com (785) Capital Pacific collaborates. Click here to meet the rest of our San Francisco team. [ visibility from signalized intersection ]

3 core characteristics Property Highlights Extensive new construction in the immediate area including: Potbelly, Pie Five Pizza, Starbucks, Qdoba, Chick-fil-A, Subway and Freebirds Subject property is located in a major retail corridor with high traffic counts and great visibility Excellent retail fundamentals Population of over 250,000 within a 5-mile radius [ excellent signage & visibility ] NATURAL GROCERS (NASDAQ: NGVC) Positive sales growth for 54 consecutive quarters. Sales have increased at an annual growth rate of 20%, with new stores at nearly 20% growth from new stores opened in 2015 with plans to open 23 in 2016 Immediate area retailers include Target, HyVee Grocery, CVS, McDonald s, Burger King, Applebee s, FedEx Office and many others Lease Highlights 14+ year corporate lease, rental increases during the base term and in the four 5-year option periods Tenant administers and pays utilities, taxes, common area maintenance and insurance expenses directly. New construction store opened mid-2015 Highly successful and fast growing publicly traded tenant: (NYSE: NGVC) 253,000+ Residents with average incomes exceeding $75K within a 5-mile radius NATURAL GROCERS 3

4 aerial immediate area retailers include target, potbelly, pie FIVE, cvs, mcdonald s 35 KANSAS CITY Midland Trail Elementary MERRIAM TOWN CENTER 35 Westwood View Elementary The Pembroke Hill School Johnson Drive 24,744 DAILY Johnson Drive KANSAS CITY COUNTRY CLUB MISSION HILLS COUNTRY CLUB Shawnee Mission North High School 56 Indian Hills Middle School Roe Avenue INDIAN HILLS COUNTRY CLUB Metcalf Avenue 35

5 income & expense PRICE $6,487,500 Price Per Square Foot: $ Capitalization Rate: 6.00% Total Rentable Area (SF): 15,000 Lot Size (AC): 1.31 STABILIZED INCOME Per Square Foot Scheduled Rent $25.95 $389,250 Effective Gross Income $25.95 $389,250 LESS Per Square Foot Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses NNN $0.00 EQUALS NET OPERATING INCOME $389,250 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. NATURAL GROCERS 5

6 rent roll RENTAL INCREASES TENANT INFO LEASE TERMS RENT SUMMARY Tenant Name Sq. Ft. Term Current Rent Monthly Rent Yearly Rent Monthly Rent/FT Yearly Rent/FT Natural Grocers 15,000 06/28/15 09/30/25 $389,250 $32,438 $389,250 $2.16 $ /01/25 09/30/30 $33,688 $404,250 $2.25 $26.95 Option 1 10/01/30 09/30/35 $34,938 $419,250 $2.33 $27.95 Option 2 10/01/35 09/30/40 $36,188 $434,250 $2.41 $28.95 Option 3 10/01/40 09/30/45 $37,438 $449,250 $2.50 $29.95 Option 4 10/01/45 09/30/50 $38,688 $464,250 $2.58 $30.95 Totals: 15,000 $389,250 $32,438 $389,250 $2.16 $25.95 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. NATURAL GROCERS 6

7 surrounding retail Surrounding retail includes Mcdonald s, applebee s, cvs & hyvee NATURAL GROCERS 7

8 area developments 100+ Unit senior housing project chick-fil-a and subway anchored retail project two tenant potbelly & pie five adjacent to the subject property

9 tenant overview [ REPRESENTATIVE PHOTOs ] Vitamin Cottage Natural Food Markets, Inc. (Nasdaq: NGVC) (doing business as Natural Grocers ) is a Colorado based health food chain founded in The company operates 108 retail grocery stores in 18 states mainly west of the Mississippi River. The company sells natural and organic products in their 5,000-16,000 square foot stores. geographic footprint The company went public on Nasdaq in July, Comparative store sales have increased company-wide for 54 consecutive quarters. For fiscal 2015, net income was $16.2 million, and revenue was $624.7 million. As of 12/31/15 net worth was $119.5 million. Natural Grocers opens new stores per year. 15 opened each year in 2014 and 2015; and 23 will open in Fiscal 2015 REVENUE: $624.8 MILLION EMPLOYEES: LOCATIONS: 108 NATURAL GROCERS 9

10 Behind the brand Consumer demand for organic food has grown by double-digits every year since the 1990 s. In today s crowded grocery space, Natural Grocers is capitalizing on a growing consumer interest in health and nutrition. The company believes that affordable nutritious food should be available to shoppers, regardless of their socio-economic status. Here is a quick summary of some of values and store features that set Natural Grocers apart: Store format designed to feel clutter-free and organized: quiet ambience accented with warm lighting and the absence of aromas from meat & seafood counters found in some other grocery stores Some stores include a dedicated community room for public gatherings and/or a demonstration kitchen for cooking education and/or lecture space Strict product guidelines eliminate the guesswork for health conscious consumers, and include: Only USDA certified organic produce Only pasture-raised, non-confinement dairy products Meats naturally raised without hormones, antibiotics and that were not fed animal by-products No food with artificial colors, flavors, preservatives, sweeteners, partially hydrogenated or hydrogenated oils FISCAL 2015 SALES MIX: Many stores feature a demo kitchen or community room Each store has a full time Nutritional Health coach [ REPRESENTATIVE PHOTOs ] natural grocers HAS A STRONG COMMITMENT TO affordable HEALTH PRODUCTS, AND DEDICATES APPROXIMATELY ONE QUARTER OF EACH STORE S SELLING SPACE TO DIETARY LOCATIONS 108 Fiscal 2015 SUPPLEMENTS. NATURAL GROCERS 10

11 site plan excellent synergy with surrounding retail developments Site Plan Key Parcel outline: Land Area: 1.31 AC Building Area: 15,000 sf Ingress/Egress: Johnson Drive 24,744 DAILY MONUMENT SIGN NOT A PART NOT A PART Broadmoor Street NOT A PART MONUMENT SIGN Barkley Street TWO STORY MIXED USE NOT A PART NOT A PART This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies.

12 regional map traffic counts in excess of 24,700 VPD on johnson drive Kansas City 12 Min 8 Miles mission NATURAL GROCERS 12

13 location [ kansas city, mo ] Mission, KS Overview Mission is located in Johnson County, just eight miles from downtown Kansas City and is part of the Kansas City Metropolitan Area, which has a population of 2.4 million making it the 26th largest metropolitan area in the country. Mission also has $70,000+ average household incomes and has been experiencing solid growth. Kansas City, MO Overview Kansas City, the largest city in Missouri, is the headquarters of dozens of national companies including American Century Investments, AMC Theatres, Applebee s and Hallmark Cards. It is also home to one of the largest drug manufacturing plants in the U.S., Sanofi-Aventis. Numerous agricultural companies operate out of the city as well, such as Dairy Farmers of America, the largest dairy co-op in the country. Kansas City is one of ten regional office cities for the United States Government, making the U.S. Government the largest employer in the metro area, with more than 146 federal agencies. Air travel is provided at Kansas City International, MCI, with Southwest being the largest carrier. Population 3-Mile 5-Mile , , , , , , Household in- 3-Mile 5-Mile Average $77,487 $75,558 Median $55,574 $52,971 Top Employers in Kansas Employer # of Employees* Federal Government 41,500 State/County/City Government 26,326 Public School System 26,250 HCA Midwest 8,632 *Approximate NATURAL GROCERS 13

14 A unique HUMAN RESULTS-DRIVEN client experience The capital pacific experience - our daily commitment to our clients [ ] rick Sanner rsanner@capitalpacific.com (415) CA BRE# aaron Susman asusman@capitalpacific.com (415) CA BRE# bob Sanner bsanner@capitalpacific.com (415) CA BRE# john andreini jandreini@capitalpacific.com (415) CA BRE# In Conjunction with KS Licensed Broker: Mark McPherson, Equity Ventures Commercial, Inc. mmcpherson@equityventurescd.com (785) Capital Pacific collaborates. Click here to meet the rest of our San Francisco team. chris kostanecki Chris Peters dave lucas Zandy Smith jack navarra zeb ripple Joe Caccamo gregg steele karla zens [ Copyright 2016 Capital Pacific ]