Corporate Potbelly & pie five

Transcription

1 Corporate Potbelly & pie five kansas city msa hard corner grocery pad 6819 Johnson Drive, Mission, KS Capital Pacific collaborates. Click here to meet the rest of our San Francisco team. For more info on this opportunity please contact: John Andreini (415) CA BRE# Rick Sanner (415) CA BRE# Joe caccamo (415) CA BRE# Chris Peters (415) CA BRE# In conjunction with KS Licensed Broker: Bradley Saville, Landmark Commercial Real Estate, Inc. (316)

2 Two-tenant strip center, pad to a newly-developed natural grocers anchored shopping center in mission, ks. Mission, Kansas is an upper class suburb in the heart of Kansas City Metro Investment Highlights PRICE: $2,392,000 CAP: 6.25% RENTABLE SF...4,000 SF PRICE PER SF...$598 land area AC ConStructed lease type NNN highlights Extensive new construction in the immediate area including: Natural Grocers, Starbucks, Qdoba, a recently completed Chickfil-a, Subway, Freebirds, a Culver s development with over 100 senior housing units, and a planned 700,000 square foot WalMart/Sprouts anchored development with office and residential Excellent retail fundamentals - hard corner signalized intersection, pad to grocery-anchored shopping center Over 250,000 population within a 5-mile radius Immediate area retailers include Target, HyVee Grocery, CVS, McDonald s, Burger King, Applebee s, FedEx, and many others Potbelly Sandwich Lease 10-year corporate lease; 10% rental increases every 5 years during the base term and in the two 5-year option periods Tenant administers and pays utilities, taxes, CAM s, and insurance expenses directly Tenant responsible for repairs, maintenance, and replacement of all interior non-structural components, and HVAC Landlord responsible for roof, structural components, parking lot, and landscaping Pie Five Lease 10-year corporate lease; rental increases Tenant administers and pays utilities, taxes, CAM s, and insurance expenses directly Tenant responsible for repairs, maintenance, and replacement of all interior non-structural components, and HVAC Landlord responsible for roof, structural components, parking lot, and landscaping Potbelly Sandwich (See page 6 for more details) Record 2014 revenues of $326 million Q EBITDA up 30.3% Company projecting net income increase of 30% for 2015 Pie Five (See page 6 for more details) Lease guaranteed by the former CEO of Applebee s - very experienced operator Tenant has 30+ open locations in 9 states with another 400 units under contract in 16 states Potbelly & pie five now open! Potbelly sandwich & Pie Five 2

3 immediate area retailers include target, hyvee grocery, cvs, mcdonald s, and burger king KANSAS CITY Midland Trail Elementary MERRIAM TOWN CENTER Westwood View Elementary Johnson Drive MISSION HILLS GOLF COURSE Johnson Drive 24,744 DAILY Shawnee Mission North High School Indian Hills Middle School Roe Avenue 56 HOMESTEAD COUNTRY CLUB 35 Metcalf Avenue INDIAN HILLS COUNTRY CLUB The Pembroke Hill School

4 Income & Expense PRICE $2,392,000 Price Per Square Foot: $ Building Size (SF): 4,000 Capitalization Rate: 6.25% 9/1/2017 Capitalization Rate: 6.40% Year Built: 2015 STABILIZED INCOME Per Square Foot Rent $37.38 $149,500 LESS Per Square Foot Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses $0.00 EQUALS NET OPERATING INCOME $149,500 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. Potbelly sandwich & Pie Five 4

5 Rent Roll TENANT INFO LEASE TERMS RENT SUMMARY Tenant Name Sq. Ft. Lease Start Lease Expiration Current Rent Monthly Rent Monthly Rent/ FT Yearly Rent/ FT Potbelly 2,100 9/1/2015 8/31/2020 $73,500 $6, $2.92 $ /1/2020 8/31/2025 $80,850 $6, $3.21 $38.50 Option 1 9/1/2025 8/31/2030 $88,935 $7, $3.53 $42.35 Option 2 9/1/2030 8/31/2025 $97,818 $8, $3.88 $46.58 Pie Five 1,900 9/1/ /30/2017 $76,000 $6, $3.33 $ /1/ /30/2019 $79,800 $6, $3.50 $ /1/ /31/2022 $83,600 $6, $44.00 $44.00 Option 1 11/1/ /31/2027 $87,400 $7, $3.83 $46.00 Option 2 11/1/ /31/2032 $91,200 $7, $4.00 $48.00 Option 3 11/1/ /31/2037 $95,000 $7, $4.17 $50.00 Current Totals: 4,000 $149,500 $12,458 $6.25 $75.00 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. [ packed parking lot ] Potbelly sandwich & Pie Five 5

6 Tenants about Potbelly Sandwich Works Potbelly Sandwich Works is a privately held restaurant chain specializing in submarine sandwiches. Sandwich Works began expanding in 1997 and today has more than 300 shops around the country. Bryant Keil, the Founding Chairman, is dedicated to preserving the individuality of each shop in an attempt to keep Potbelly from becoming just another fast food chain. Bryant was the 2007 Ernst & Young Entrepreneur of the Year Award recipient, and has also been tapped by Crain s Chicago Business as one of its 40 Under 40 young business leaders. Based on Technomic estimates, the average Potbelly generates $1.2 million in annual revenue a figure that is twice that of competitors Subway and Jimmy John s. Potbelly Sandwich Works also rivals its competitors in average store size and is typically much better furnished boasting heavy wooden furniture and faux-antique décor. LOCATIONS 300+ TYPE subsidiary 2014 REVENUE $327 Million About Pie Five Pie Five Pizza is a fast-casual pizza chain that offers individual hand-crafted pizzas with fresh ingredients made to order in less than five minutes. First introduced in the Dallas area in 2011, Pie Five has grown to more than 30 locations in 9 states and has more than 400 announced franchised units under contract in 16 states and the District of Columbia. Pie Five has been named a 2013 Top 50 Restaurant Brand of the Year, a 2012 Hot Concepts winner by Nation s Restaurant News and one of 10 Hot New Restaurant Chains from Established Brands by Forbes.com. The CEO, Randy Gier, was named one of the Top 10 Trendsetting Executives in Pizza in 2013 by Pizza Marketplace. LOCATIONS 30+ TYPE subsidiary 2014 REVENUE $41.2 Million [ surrounding area ] Potbelly sandwich & Pie Five 6

7 Site Plan Johnson Drive 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

8 Regional Map Mission KS Location traffic counts in excess of 24,744 vpd on johnson drive potbelly pie five Kansas City 12 Min 8 Miles mission Potbelly sandwich & Pie Five 8

9 Surrounding Retail Surrounding retail includes cvs, arby s, mcdonald s, and applebee s Potbelly sandwich & Pie Five 9

10 Area Developments chick-fil-a, culvers, and subway anchored retail project natural grocers anchored development 100+ Unit senior housing project proposed walmart & sprouts anchored center 410,000 SF of retail 295,000 SF residential units (330 units) 705,000 project total

11 Location & Demos [ kansas city, mo ] Mission, KS Overview Mission is located in Johnson County, just eight miles from Kansas City, and is a member of the Kansas City Metropolitan Area, which has a population of 2.34 million and ranks as the second largest metropolitan area in Missouri. Kansas City, the largest city in the state of 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, located in South Kansas City. 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 also one of ten regional office cities for the United States Government, making the U.S. Government the largest employer in the Kansas City metro area, with more than 146 federal agencies. Population 1-Mile 3-Mile 5-Mile ,498 87, , ,854 88, , ,371 91, , Household incomes 1-Mile 3-Mile 5-Mile Average $70,649 $77,487 $75,558 Top Employers in Kansas City Employer # of Employees* Federal Government 41,500 State/County/City Government 26,326 Public School System 26,250 HCA Midwest 8,632 *Approximate Potbelly sandwich & Pie Five 11

12 A unique HUMAN RESULTS-DRIVEN client experience The capital pacific experience - our daily commitment to our clients [ ] John Andreini jandreini@capitalpacific.com (415) CA BRE# Rick Sanner rsanner@capitalpacific.com (415) CA BRE# Joe caccamo jcaccamo@capitalpacific.com (415) CA BRE# Chris Peters cpeters@capitalpacific.com (415) CA BRE# In conjunction with KS Licensed Broker: Bradley Saville, Landmark Commercial Real Estate, Inc. bsaville@landmarkrealestate.net (316) Copyright 2015 [Capital Pacific Real Estate Brokerage Company]