x101

Transcription

1 NEW - POPEYE'S LOUISIANA KITCHEN MERCED, CALIFORNIA NNN - (20 YR TERM) PRESENTED BY: GREG AGUIRRE x101 greg@capitalrivers.com CAPITAL RIVERS COMMERCIAL CAPITALRIVERS.COM INFO@CAPITALRIVERS.COM

2 TABLE OF CONTENTS 1 PROPERTY INFORMATION 2 FINANCIAL INFORMATION 3 LOCATION INFORMATION 4 DEMOGRAPHICS CONFIDENTIALITY & DISCLAIMER All materials and information received or derived from Capital Rivers Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party s intended use or any and all other matters. Neither Capital Rivers Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party s active conduct of its own due diligence to determine these and other matters of significance to such party. Capital Rivers Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. Capitol Rivers, Inc. dba. Capital Rivers Commercial is also an owner in the property and is acting as both a principle and broker. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. Capital Rivers Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. Capital Rivers Commercial does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Capital Rivers Commercial in compliance with all applicable fair housing and equal opportunity laws. 2

3 1 PROPERTY INFORMATION

4 EXECUTIVE SUMMARY OFFERING SUMMARY Sale Price: $2,990,000 PROPERTY OVERVIEWVIEW Brand New 20-Year NNN Lease with scheduled rental increases, strong multi-unit franchisee, Corporate Lease protection from Popeye's Louisiana Kitchen, Inc. (subsidiary of NYSE: QSR), High-Traffic location next to U.S. Highway 99 with 45 foot Pylon sign, and located adjacent to In-N-Out Burger. Lot Size: 0.55 Acres PROPERTY HIGHLIGHTS Year Built: 2017 Building Size: 2,791 Zoning: (C-T) Traffic Count: 67,000+ Brand New 20 Yr. true NNN Lease with scheduled rental increases. 20-year lease with 10% rental increases every 5 years w/2 5 Year Options Strong multi-unit franchisee with +/- 31 Popeyes restaurants and +/- 10 other restaurants including Sonic and Black Bear Diners Corporate Performance Guarantee from Popeye's Louisiana Kitchen, Inc. which is a subsidiary of Restaurant Brands International (NYSE: QSR) High-Traffic Location Off of U.S. Highway 99 with over 69,000 Vehicles Per Day Convenient access and excellent visibility to U.S. Highway 99 Located at signalized intersection across from In-N-Out Burger, Taco Bell, and Wendy's. New 2017 Construction featuring the High Production Prototype Large 45 foot Freeway Pylon Sign Large Customer Base in Immediate Area PROPERTY INFORMATION 4

5 NEW POPEYE'S LOUISIANA KITCHEN MERCED MERCED,, CA COMPLETE HIGHLIGHTS SALE HIGHLIGHT HIGHLIGHTS S Brand New 20 Yr. true NNN Lease with scheduled rental increases. 20-year lease with 10% rental increases every 5 years w/2 5 Year Options Strong multi-unit franchisee with +/- 31 Popeyes restaurants and +/- 10 other restaurants including Sonic and Black Bear Diners Corporate Performance Guarantee from Popeye's Louisiana Kitchen, Inc. which is an indirect subsidiary of Restaurant Brands International (NYSE: QSR) High-Traffic Location Off of U.S. Highway 99 with over 69,000 Vehicles Per Day Convenient access and excellent visibility to U.S. Highway 99 Located at signalized intersection across from In-N-Out Burger, Taco Bell, and Wendy's. New 2017 Construction featuring the High Production Prototype Large 45 foot Freeway Pylon Sign Large Customer Base in Immediate Area FOR S SALE ALE PROPERTY INFORMA INFORMATION TION 5

6 ABOUT POPEYE'S LOUISIANA KITCHEN PROPERTY OVERVIEWVIEW Popeye s was founded in New Orleans, Louisiana in 1972 and is the world's second largest quick-service chicken concept, based on the number of units. Popeye's distinguishes itself with a unique "New Orleans" style menu that features spicy chicken, chicken tenders, fried shrimp, and other seafood, as well as jambalaya, red beans and rice, and other regional items. Popeye's is a unique brand with a passion for its Louisiana heritage and flavorful authentic food. Popeye's serves food the world craves and is continuing to expand its global reach. Popeye's operates and franchises over 2,700 restaurants worldwide. Of the 1,600 domestic franchised restaurants, approximately 70% are concentrated in Texas, California, Louisiana, Florida, Illinois, Maryland, New York, Georgia, Virginia, and Mississippi. Of the nearly 400 international franchised restaurants, approximately 55% are located in Korea, Canada, and Turkey. More than 90% of the company-operated restaurants are concentrated in Louisiana and Tennessee. In March of 2017 Restaurant Brands International purchased Popeye's Louisiana Kitchen, Inc. via/ Orange, Inc. (an indirect subsidiary of RBI) for US 1.8Billion For more information, please visit or TICKER NYSE: "QSR" PROPERTY INFORMATION 6

7 PROPERTY DESCRIPTION PROPERTY OVERVIEWVIEW Brand New 20-Year NNN Lease with scheduled rental increases, strong multi-unit franchisee, Corporate Lease protection from Popeye's Louisiana Kitchen, Inc. (subsidiary of NYSE: QSR), High-Traffic location next to U.S. Highway 99 with 45 foot Pylon sign, and located adjacent to In-N-Out Burger. LOCATION OVERVIEWVIEW The property is located in Merced, CA across from In-N-Out Burger at the signalized corner of W. 15th Street and Martin Luther King Jr. Way with visibility and convenient access to Hwy-99. Merced (population 80,542) is the seat of Merced County in the San Joaquin Valley in Northern California. Known as the Gateway to Yosemite, Merced is less than two hours by car from Yosemite National Park to the east and the Monterey Bay to the west. Located at the junction of CA-99, the dominant north-south freeway in California, CA-69, and CA-140, the city s transportation needs are also served by Amtrak commercial rail and the Merced Regional Airport. Union Paci c and Burlington Northern/Santa Fe rail lines also pass through the city. Since 1980, Merced has experienced a population growth rate exceeding the state average, with an annualized growth rate of 3.4% over the last nine years. This population growth has driven significant retail development in the city of Merced since 1992, adding over 750,000 square feet of new retail space and generating more than $500,000 in additional sales tax revenue annually. The city had historically relied on agribusiness and the presence of Castle Air Force base as key components of the city s economy; since the closing of the Air Force base in 1995, the city s economy has diversified to include printing, warehousing and distribution, fiberglass boat building, packaging, and more. In 2005, Merced became home to the tenth campus of the University of California system, the University of California, Merced. The college was the rst research university built in the U.S. in the 21st century. With a growing enrollment of approximately 7,325 students, the university is home to three schools offering 21 undergraduate majors and 21 minors the School of Engineering, the School of Natural Sciences, and the School of Social Sciences, Humanities, and Arts. In addition, the university offers graduate level programs in Applied Mathematics, Biological Engineering, Cognitive and Information Sciences, Electrical Engineering and Computer Science, Environmental Systems, Mechanical Engineering and Applied Mechanics, Physics and Chemistry, Psychology, Quantitative and Systems Biology, Social and Cognitive Sciences, and World Cultures. The 230 acre campus is bounded by Lake Yosemite and is the only institution in the U.S. to have all of its campus buildings LEED environmentally certified. PROPERTY INFORMATION 7

8 2 FINANCIAL ANALYSIS

9 LEASE ABSTRACT FINANCIAL INFORMATION 9

10 3 LOCATION INFORMATION

11 LOCATION MAPS LOCATION INFORMATION 11

12 REGIONAL MAP LOCATION INFORMATION 12

13 NEW POPEYE'S LOUISIANA KITCHEN MERCED MERCED,, CA RETAILER MAP FOR S SALE ALE LOCA OCATION TION INFORMA INFORMATION TION 13

14 4 DEMOGRAPHICS

15 DEMOGRAPHICS REPORT 1 MILE 3 MILES 5 MILES Total population 14,944 80, ,705 Median age Median age (male) Median age (female) Total households 4,922 24,979 32,604 Total persons per HH Average HH income $35,891 $48,139 $54,214 Average house value $267,349 $279,099 $294,833 * Demographic data derived from 2010 US Census DEMOGRAPHICS 15