9005 E Independence Blvd Matthews, NC

Transcription

1 Dunkin Donuts 9005 E Independence Blvd Matthews, NC OFFERING MEMORANDUM Dunkin Donuts, Matthews, NC 1

2 2 Matthews Real Estate Investment Services

3 contents 04 EXECUTIVE SUMMARY financial OVERVIEW Lease Abstract tenant overview area OVERVIEW exclusively listed by Calvin Short FVP & Senior Director DIR (949) MOB (310) LIC # (CA) Michael Chislock Associate Michael.Chislock@matthews.com DIR MOB LIC # (CA) Kyle Matthews BROKER OF RECORD LIC # Dunkin Donuts, Matthews, NC 3

4 investment highlights LONG-TERM STABILITY & STRONG HEDGE AGAINST INFLATION 10+ years remaining on the initial lease term Absolute NNN investment, providing for a great passive investment for both in state and out of state investors 10% fixed rental increases throughout the initial term and options Successful franchisee operating entity with over 10 years of experience in the Dunkin Donuts system Full-term personal guarantees from all operating partners see broker for details Attractive quarterly financial reporting see broker for details HIGHLY TRAFFICKED CHARLOTTE MSA RETAIL CORRIDOR Dunkin is located 10 miles outside of downtown Charlotte which is the largest city in North Carolina and the 3rd fastest growing city in the United States Charlotte is the 17th most populated city in the U.S. and has experienced tremendous double-digit growth, upwards of 15% in the past 7 years and projected 10% over the next 5 years Dunkin is ideally positioned along Independence Boulevard which sees over 57,000 cars per day and plays host to numerous major dealerships including Porsche, Tesla, BMW, Audi, Harley Davidson, Lexus, and Infiniti to name a few Independence boulevard is also a major retail corridor serving Matthews, with national retailers such as Costco, Walmart, Sam s Club, Target, Home Depot, Lowe s, Dick s Sporting Goods, and Kohl s Population is in excess of 69,000 within a 5-mile radius, with average household income of over $79,000 Population is in excess of 206,000 within a 10-mile radius, with average household income of over $89,000 4 Matthews Real Estate Investment Services

5 Dunkin Donuts, Matthews, NC 5

6 financial overview 6 Matthews Real Estate Investment Services

7 Dunkin Donuts 9005 E Independence Blvd Matthews, NC List Price...$1,415,929 CAP Rate % Gross Leasable Area...± 2,376 SF Lot Size...± 1.00 Acres Year Built Annualized Operating Data Monthly Rent Annual Rent Rent/SF Cap Rate Current $6, $80, $ % Years $7, $88, $ % Option 1 $8, $96, $ % Option 2 $8, $106, $ % Option 3 $9, $117, $ % Tenant Summary Tenant Trade Name Dunkin Donuts Type of Ownership Fee Simple Lease Guarantor Franchisee Lease Type NNN Roof and Structure Tenant Responsible Original Lease Term 15 Years Lease Commencement Date December 21, 2012 Lease Expiration Date December 31, 2027 Term Remaining on Lease ± 10 Years Increases 10% Increases Every Five (5) Years Options Three (3) Five (5) Year Options Dunkin Donuts, Matthews, NC 7

8 Lease Abstract Tenant: Dunkin Donuts Guarantor: Franchisee Address: 9005 E. Independence Boulevard, Matthews, NC Size: ± 1.0 Acres Ownership type: Fee Simple Date of Lease: December 21, 2012 Lease Expiration Date: December 31, 2027 Remaining Renewal Options: Three (3) Five (5) Year Lease Term Fifteen (15) Years Current Rent: $80,000 Rent Increases: Real Estate Taxes: Repairs and Maintenance: Insurance: Utilities: 10% Every Five (5) Years All taxes, assessments (special or otherwise) and other governmental levies and charges of any and every kind, nature and sort whatsoever therefor including all taxes whatsoever and the costs to Landlord of any appeals of any taxes or assessments or any charge or other payments required to be paid to any governmental authority, whether or not any of the foregoing shall be a so-called real estate tax. Tenant understands, acknowledges and agrees that, except as expressly provided herein, this lease is absolutely net to Landlord and Landlord shall have no obligation to improve, maintain or repair the premises or any improvements thereon at any time for any reason. Tenant shall procure and maintain in full force and effect one or more policies of Commercial General Liability Insurance with limits of coverage of not less than One Million Dollars. Tenant agrees to pay all charges for all water, gas, heat, light, power, sewer charges, telephone service and all other services and utilities which may from time to time be supplied to the Premises, together with any taxes thereon. 8 Matthews Real Estate Investment Services

9 Dunkin Donuts, Matthews, NC 9

10 tenant overview 10 Matthews Real Estate Investment Services

11 Company Name Parent Company Trade Name Ownership Dunkin Donuts Dunkin Brands (NASDAQ: DNKN) Public No. of Locations ± 11,500 No. of Employees (all) ± 270,000 Headquartered Website Canton, Massachussets Year Founded 1950 Dunkin Donuts Dunkin Donuts is the world s leading baked goods and coffee chain, serving more than 3 million customers everyday. Since its founding in 1950, Dunkin Donuts has earned the #1 ranking for customer loyalty in the coffee category for a consecutive nine years and a market leader in sales of hot, decaffeinated and flavored coffee, iced coffee, bagels, donuts and muffins. It is a subsidiary of Dunkin Brands, Inc., one of the world s leading franchisors of quick-service restaurants that also operates the Baskin-Robbins chain. An Industry Leader Dunkin Brands continues to pursue innovative menu choices through the collaboration of their culinary team of acclaimed chefs and their research and development team. From new types of coffee creations and flavors to limited time offers, Dunkin Donuts is constantly searching for products their patrons will love. With over 130 years of franchising experience, Dunkin Brands continues to deliver food and beverages quickly, affordably and conveniently in a welcoming environment through the Dunkin Donuts brand. Marketing and Company Strategy Through extensive marketing efforts, Dunkin Brands has a 94% global brand awareness, including markets where the company has yet to establish stores. To broaden reach and recognition, Dunkin Donuts partners with other prominent and respected brands, including Coca Cola, JetBlue, Smucker s, and Keurig. A distinguishing characteristic of the company is their passion for offering guests products they will enjoy, giving plenty of menu options, and providing accurate nutrition information so they can make informed choices. Dunkin Donuts, Matthews, NC 11

12 the offering parcel map Property Name Property Address Dunkin Donuts 9005 E Independence Blvd Matthews, NC Assessor s Parcel Number Site Description Number of Stories One Year Built 2006 Gross Leasable Area (GLA) ± 2,400 SF Lot Size ± 1.00 Acres (43,560 SF) Type of Ownership NNN Parking ± 40 Surface Spaces Parking Ratio : 1,000 SF Landscaping Professional Topography Generally Level E. Independence Blvd ±59,000 ADT Oceanside Blvd ± 31,792 College Blvd ± 40, Matthews Real Estate Investment Services

13 Surounding tenants Dunkin Donuts, Matthews, NC 13

14 area overview Matthews, NC Just nine miles outside of Charlotte, North Carolina, Matthews is the largest suburban town within Mecklenburg County. Matthews has a nice small town feel and gives its residents a break from the big city. Many fun activities include nature hiking on the Four Mile Creek Greenway and exploring Squirrel Lake Park. Matthews is a great family town with low unemployment and crime rates. 95% graduate from high school with over 50% of residents obtaining Bachelor degrees or higher. They have a higher household income average than the average for the state. The most popular career industries include retail trade and professional/technical services with occupations in management and sales. demographics POPULATION 3 Mile 5 Mile 10 Mile 2022 Projection 4,136 69, , Estimate 3,878 65, , Census 3,511 58, , Census 2,658 49, ,168 Growth % 7.03% 6.47% Growth % 10.98% 9.71% HOUSEHOLDS 3 Mile 5 Mile 10 Mile 2022 Projection 1,635 28,804 81, Estimate 1,536 26,776 76, Census 1,396 23,847 69, Census 1,084 19,934 59,028 Growth % 7.58% 6.68% Growth % 12.28% 10.15% INCOME 3 Mile 5 Mile 10 Mile 2017 Est. Average Household Income $79,577 $79,264 $89,978

15 Charlotte, NC Being the largest city in North Carolina, Charlotte is the third-fastest growing city in the United States. The population is growing immensely as well and is the seventeenth-largest populated city in the US. The Charlotte Douglas International Airport is a major international hub within the city and produces thousands of flights a day. It is home to Bank of America headquarters and many other large business corporations. The unemployment rate is low for being a large city with a majority of its residents achieving a Bachelors degree or higher. The town itself, has an even balance of old southern charm or new age development. Charlotte has been the breading ground for new restaurants, attractions, and much more. It keeps evolving and being one of the most popular cities to visit in the Southeast. Dunkin Donuts, Matthews, NC 15

16 Things to Do Charlotte has a lot to offer when it comes to entertainment. With several professional sports teams, an amusement park, and a variety of museums and performing art centers, there is always something to do. Recently, skyscrapers have been gracing the Charlotte sky and give a new view of the beautiful city. Whether you are out for date night or wanting to see the sights, Charlotte has something awesome in store. When exploring the city, take a tour of the NASCAR Hall of Fame. Charlotte has a rich history of NASCAR racing, and the Hall of Fame will give its fans insight on the most historical drivers and crew members. One of their most popular attractions is Glory Road. It runs throughout the building, highlighting amazing races and historical race cars. For the kids, Charlotte has amazing amusement parks and activity centers. Carowinds has something for all ages. From meeting Snoopy to riding the newest, fastest rides, Carowinds is one of the best amusement parks in the state. There is also paintballing, go karts, and escape rooms all over the city. Charlotte is home to many sports teams, with the most popular being the Charlotte Hornets and the Carolina Panthers. The city has gained a ton of attention in the recent years within the sports world. The Hornets have worked their way up and are making steady strides throughout the NBA. When North Carolina native, Michael Jordan, acquired the team in 2010, he made major changes to help enhance the team. As for the Panthers, they became front page news when they competed in the 50th Super Bowl Championship against the Denver Broncos in Ever since, they have been a fierce competitor in the NFL. 16 Matthews Real Estate Investment Services

17 University of North Carolina at Charlotte UNC Charlotte is a credited doctoral research university in the heart of Charlotte. It offers a range of Bachelor to Doctoral degrees within 9 different colleges. They accept over 25,00 students a year and have three different campuses. The main campus spreads across 8 miles and has 85 buildings. The school s main focus is within three major areas: metrology and intelligent manufacturing, software technology, and opt-electronics and optical communication. Each campus works with students with specific needs. The Center City campus focuses on business and evening courses, while the main campus has a majority of day time courses. Many of the sport teams within UNC Charlotte have become a large draw for many students. The men s basketball team has competed in the NCAA Tournament eleven times with many players expanding to the NBA. Many baseball players have also continued to the major leagues. Dunkin Donuts, Matthews, NC 17

18 CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of Dunkin Donuts located at 9005 E Independence Blvd, Matthews, NC ( Property ). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be allinclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. By acknowledging your receipt of this Offering Memorandum for the Property, you agree: 1. The Offering Memorandum and its contents are confidential; 2. You will hold it and treat it in the strictest of confidence; and 3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller. Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered. If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum. A prospective purchaser s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

19 exclusively listed by Calvin Short FVP & Senior Director DIR (949) MOB (310) LIC # (CA) Michael Chislock Associate Michael.Chislock@matthews.com DIR MOB LIC # (CA) Kyle Matthews BROKER OF RECORD LIC # Dunkin Donuts 9005 E Independence Blvd Matthews, NC Dunkin Donuts, Matthews, NC 19