For Sale New Construction Buffalo Wild Wings Retail Center Highway 278 at Highway 46- Hilton Head, SC

Transcription

1 For Sale New Construction Buffalo Wild Wings Retail Center Highway 278 at Highway 46- Hilton Head, SC Site 325,000 sf shopping center Contact: David Oliver

2 For Sale Buffalo Wild Wings Retail Center Highway 278 at Highway 46- Hilton Head, SC Site 325,000 sf shopping center Contact: David Oliver

3 Executive Summary: Buffalo Wild Wings Retail Center- Hilton Head, SC. Jaz Management, LLC is exclusively marketing for sale a 7600 square foot three tenant retail center in Bluffton (Hilton Head), South Carolina located at 21 Bluffton Road in Bluffton, South Carolina. The center is ideally located just south of the signalized intersection of US 278 (60,000 VPD) and SC Highway 46 (20,000 VPD) and is at the center of the retail corridor across the street from a new Wal-Mart Supercenter, and Sam s Club. The property is adjacent to multiple national retailers and has access to a signalized intersection serving the main entrance to Target and the aforementioned Wal-Mart center. The corporate guaranteed Buffalo Wild Wings lease has a ten year term and there are two shop spaces leased to Jimmy Johns and Avocado Bleu. Buffalo Wild Wings occupies 5,000 SF (66% of the project) and the project is situated on 1.8 acres of land. Buffalo Wild Wings operates approximately 1300 locations in the US and internationally. In 2017 BWW had EBITDA of $290 million on revenue of over $1.7 billion, and a market capitalization of over $2.43 billion. Buffalo Wild Wings has recently announced it was acquired by IRB Holding Corp. the parent company of Arby s. The property was completed in 2018 and features attractive finishes in the low country architectural vernacular. The trade area features over 50,00 people in a 3 mile radius with 2.5MM tourists visiting annually. The main artery to Hilton Head (US Highway 278) has 60,000 cars per day and is the only route to the island from the mainland. Area retailers include Wal-Mart, Sam s, Target, Dick s, Staples, Publix, Kroger, Best Buy, Petco, PetsMart, Michaels, Ross, Lowes, Home Depot, Hobby Lobby, and two Tanger outlet malls totaling over 500,000 square feet Contact: David Oliver davidoliver@jazdev.com

4 Property Description: Buffalo Wild Wing Center- Bluffton, SC. ADDRESS Property: Buffalo Wild Wing Retail Center Property Address: 21 Bluffton Road, Bluffton, South Carolina SITE DESCRIPTION Gross Leasable Area: 7600 SF Ownership: Fee Simple Year Built: 2018 Number of Stories: 1 Tenant: Blazin Wings, Inc. Guaranty: Corporate Lot Size: 1.8 Acres INVESTMENT HIGHLIGHTS 100% occupancy 7600 square feet Built 2018 Land Area 1.8 acres NOI $265,000 Asking Price $4,240, % cap rate The property is located across the street from a new Wal-Mart Super Center and Sam s Club; adjacent to Target, Dick s, and Staples; access to a signalized intersection serving 600,000 square feet of retail; 10 year leases with Buffalo Wild Wings and Jimmy Johns Gourmet Sandwiches Contact: David Oliver davidoliver@jazdev.com

5 Tenant Overview: Buffalo Wild Wing Center- Bluffton, SC. ADDRESS Property: Buffalo Wild Wing Retail Center Property Address: 21 Bluffton Road, Bluffton, South Carolina TENANT SUMMARY Blazin Wings, Inc. 10 year term 5000 square feet 66% of center Company Type: Inspire Brnads/Roark Capital 2017 Sales: $1.9 Billion 2017 Market Cap: $ 2.4 Billion Jimmy Johns (franchised) 1200 square feet 10 year term 2727 total stores (corporate) Avocado Bleu 1400 square feet Healthy Choice Caterer and Meals to go 5 year term INVESTMENT HIGHLIGHTS 100% occupancy 7600 square feet Built 2018 Land Area 1.8 acres 10 Year Leases NOI $265,000 Rental increases through term Asking Price $4,240, % cap rate Roark Capital Group is an Atlanta-based private equity firm with approximately $11 billion in equity capital raised since inception. Roark focuses on family-owned business transfers, management/corporate buyouts, recapitalizations, going-private transactions, and corporate divestitures. Roark focuses on consumer and business service companies, with a specialization in franchised and multi-unit business models in the restaurant, retail, consumer services, and business services sectors. Roark prides itself on being a trusted partner for management and business owners. We believe that successful partnerships begins with providing a compelling value proposition to all business constituencies. A win-win-win approach leads to an enthusiastic business environment where all stakeholders customers, employees, franchisees, strategic partners, service providers, management and shareholders share in the growth and success of our businesses. We want to partner with entrepreneurs and executives who share this vision. Since inception, affiliates of Roark have acquired 64 franchise/multi-unit brands which generate approximately $31 billion in system revenues from 31,000 locations located in 50 states and 78 countries. Our companies span multiple industries including food and restaurants, specialty retail, health and wellness, retail healthcare, business services, and education. Our largest sector, food and restaurants, encompasses 23 investments in brands such as: Inspire Brands (the owner of Arby s, Buffalo Wild Wings, and R Taco), CKE Restaurants (the owner of Carl s Jr and Hardee s), Corner Bakery, Culver s, FOCUS Brands (the owner of Auntie Anne s Pretzels, Carvel Ice Cream, Cinnabon, McAlister s Deli, Moe s Southwest Grill, and Schlotzsky s), Il Fornaio, Jim N Nick s BBQ, Jimmy John s, Miller s Ale House, Naf Naf Middle Eastern Grill, and Wingstop. Contact: David Oliver davidoliver@jazdev.com

6

7 Highway 278 Bluffton, South Carolina: SITE PLAN Contact: David Oliver

8 Highway 278 Bluffton, South Carolina: SITE PLAN Site Contact: David Oliver