Ground Lease Popeyes Great Underlying RE Fundamentals 3% Yearly Increases 5.25% CAP Rate Starting in May, 2019 135 St. James Ave. Goose Creek, SC (Charleston MSA) Representative Photo
Table of Contents FOR FURTHER INFORMATION Phil Rose mobile 843.270.3280 web phil@twinriverscap.com 135 St. James Ave. Goose Creek, SC Property Information...3 Locator Map... 4 125-G Wappoo Creek Drive Charleston, SC 29412 phone (843) 722.9925 fax (843) 722.9947 web twinriverscap.com High Aerial...5 Retail Map... 6 Site Aerial... 7 Site Plan...8 Elevations...9 Tenant & Lease Information... 10 Financials... 11 Demographics & Business Overview... 12 About Us... 13
Property Information Property and Location Highlights > 10 YEAR LEASE WITH UNUSUALLY HIGH 3% YEARLY INCREASES > FIRST RENTAL INCOME INCREASE IN MAY 2019 (RENT = $78,280, CAP = 5.25%) > INITIAL BASE RENT: $76,000 > 2, 5-YEAR OPTIONS > GREAT TRAFFIC; 38,700 VPD > STRONG REAL ESTATE FUNDAMENTALS WITH A HIGH LAND VALUE > LOW PRICE POINT > ESTABLISHED MULTI-UNIT OPERATOR > LEASE COMMENCEMENT 5/1/18 > GROWTH AREA WITH NEW RETAILERS AND RESIDENTIAL DEVELOPMENT > CORNER LOCATION GOOSE CREEK, SC Goose Creek, the municipality that Business Week called the best place to raise a family in South Carolina, is located only 18 miles from the international tourist destination of Charleston and the pristine beaches of coastal South Carolina. It is situated perfectly between the state s Boeing plant to its south, and Volvo s automotive plant to its north, both of which have turned the region into a hotbed of industrial growth. > DEMOGRAPHICS 1 Mile 3 Mile 5 Mile Population 2018 7,167 61,941 120,455 Projected Population 2023 7,499 67,475 132,935 Average HHI $62,998 $69,565 $67,566 3% YEARLY INCREASES +220 FRONTAGE 2,268 SF
Locator Map SITE Goose Creek North Charleston Mt. Pleasant Charleston
SITE High Aerial
SITE Retail Map
Site Aerial SITE (existing building will be removed)
DIRECTIONAL SIGN [OPTIONAL] 18'-0" 9'-0" 25'-0" 18'-0" Site Plan By Howard Robertson at 1:27 pm, Oct 09, 2017 Provide a single dumpster enclosure unless the garbage collection company provides recycling service. DUMPSTER ENCLOSURE 90 9'-0" EXTERIOR MENUBOARD SPEAKER POST, OCB AND CANOPY CAPTURE 4TH CAR IN STACKING ORDER AT 60'+ FROM C/L AT MID WINDOW 25'-0" PAINT STRIPE PREVIEW BOARD CLEARANCE POST 25'-0" 19'-8" BOLLARD 5'-2" 10'-0" 14'-0" BLACK PAD CONCRETE ETLING AVE. 50' R/W BOLLARD POPEYES TYP. 2268 S.F. GROSS 46-SEAT BLDG 90 90 78'-0" 32'-6" 18'-0" 9'-0" 10'-0" 1'-0" 14'-0" HAND RAIL 18'-0" PLANTER 9'-0" 90 25'-0" SC HWY. 176 100' R/W
Elevations By Howard Robertson at 1:57 pm, Oct 09, 2017 -@$87@02@ @'@ @1! "@3 @)@ @,!! (# @! 3 # )@ @9@ @02@ @'@ @* @5@ @? = /4? :6&!.> < @ '+2 % 9 3;5@
Tenant & Lease Information TENANT PROFILE Tenant: Popeyes Louisiana Kitchen Founded in New Orleans in 1972, Popeyes has more than 40 years of history and culinary tradition. Popeyes distinguishes itself with a unique New Orleans style menu featuring spicy chicken, chicken tenders, fried shrimp and other regional items. The chain s passion for its Louisiana heritage and flavorful authentic food has allowed Popeyes to become one of the world s largest quick service restaurant chicken concepts with over 2,600 restaurants in the U.S. and around the world. LEASE INFORMATION > 10 year lease with 3% yearly increases > First increase in May 2019 (rent = $78,280; CAP = 5.25%) > Two 5-year options > No landlord responsibilites > Ground lease Key financial highlights for the company for the quarter ending June 30, 2018, include: > Q2 financial results indicate that Popeyes managed to achieve double-digit profit growth by accelerating its restaurant expansion activity. > System-wide sales at Popeyes skyrocketed from 3.3 percent in Q2 2017 to 10.7 percent Q2 2018. > Comparable Sales grew from 2.7 to 2.9 percent. > Net restaurant growth was increased from 5.3 to 7.5 percent. NASDAQ: PLKI
Financials Rent Roll Absolute NNN Lease 135 St. James Ave., Goose Creek, SC Price Summary Price $1,490,000 Cap Rate 5.1% NOI $76,000 TENANT LAND AREA LEASE START/ EXPIRATION MONTHLY RENT ANNUAL RENT OPTIONS Popeyes 1.2 acres with 2,268 Improvements from Tenant May 1, 2018 / April 30, 2028 Year 1 $6,333 Year 1 $76,000 Year 11 $102,137 Year 16 $118,405 10 years 3% yearly increases (first increase in May 2019) Two 5-year options
Demographics & Business Overview Goose Creek is part of the Charleston-North Charleston-Summerville MSA. This area has experienced unprecedented business growth and economic diversification, with both multinational corporations and fast-growing startups taking advantage of the globally competitive business environment. DEMOGRAPHIC PROFILE AREA ECONOMIC DRIVERS Tourism Military Healthcare 42,039 POPULATION CITY OF GOOSE CREEK 17% POPULATION GROWTH SINCE 2010 5 Million+ VISITORS ANNUALLY $10.8 Billion ECONOMIC IMPACT 2,000+ PHYSICIANS Power Systems Creative Higher Education 33 MEDIAN AGE $64,118 MEDIAN HOUSEHOLD INCOME TOP ECONOMIC DEVELOPMENT ENGINE WITH POTENTIAL IMPACT FOR DECADES 26,000+ REGIONAL WORKFORCE 2.2 Billion LABOR INCOME
About Us TRC provides national retailers with a comprehensive solution for growing their business by developing new locations. TWIN RIVERS CAPITAL, LLC Twin Rivers Capital, LLC is a privately held real estate investment, development and brokerage company, founded in 2002 and headquartered in Charleston, SC. Focusing on the growth regions of the Southeastern US, TRC provides national retailers with a comprehensive solution for adding new locations. TRC has developed more than 1.2 million SF of real estate with values of nearly $200 million. TRC also handles third party brokerage, including tenant and landlord representation and investment brokerage services in FL, GA, SC, NC, VA, TN and AL. Build to Suit JV Programs Preferred Developer for National Retailers Brokerage Fee Development Programs YOUR TWIN RIVERS CAPITAL CONTACT Phil Rose Phil provides leasing and management services, with a focus on Tenant Representation, Landlord Representation and Retail Brokerage. After receiving his SC Real Estate License in 2006, Phil worked with Retail & Investment Property Advisors, LLC/Carolina Retail. He has acted both as a tenant representative for companies such as Little Caesars, Cache, Trek, Cellular Sales, Verizon, Meineke/Maaco, and ZPizza and as a landlord representative for CVS Disposition as well as local and regional investors and property owners. Phil is licensed in SC, GA and NC, and is a member of the International Council of Shopping Centers and the National Association of Realtors. OFFICE 843.203.1668 MOBILE 843.270.3280 EMAIL WEB phil@twinriverscap.com twinriverscap.com Client Roster DAVID ABDO FAMILY DOLLAR AUTOZONE MCDONALD S VERIZON WALMART DUNKIN DONUTS DICK S AT&T HOBBY LOBBY STARBUCKS DOLLAR TREE EDWARD JONES