Burger King (Corporate) St. Augustine, Florida OFFERED BY: RYAN D. O CONNELL P. 602.595.4000 Ryan@investments.com Listed in conjunction with Florida Broker Don Bernadine Keystone Realty and Investments License No. BK3004872 Office 602.595.4000 Fax 602.467.3218 3219 East Camelback Road Phoenix, Arizona 85018 www.investments.com
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Investments, LLC and should not be made available to any other person or entity without the written consent of Investments, LLC. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Investments, LLC has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Investments, LLC has not verified, and will not verify, any of the information contained herein, nor has Investments, LLC conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. All properties visits are by appointment only.
PROPERTY SUMMARY SITE: Burger King GUARANTOR: Burger King Corporation (NYSE: QSR) LOCATION: 304 Paseo Vereda Drive St Augustine, FL 32095 PROPERTY TYPE: Quick Service Restaurant TYPE OF OWNERSHIP: Fee Simple GROUND LEASE LEASE TYPE: Absolute Net Ground Lease LIST PRICE: $1,535,000 CAP RATE: 4.50% BASE RENT: Present 12/21/30: $69,000. 12/22/30 12/21/35: $72,500. (Option 1) 12/22/35 12/21/40: $79,860. (Option 2) 12/22/40 12/21/45: $87,846. (Option 3) 12/22/45 12/21/50: $96,631. (Option 4) 12/22/50 12/21/55: $106,294. (Option 5) 12/22/55 12/21/60: $116,923. (Option 6) OPTIONS: Six (6) five (5) year options SQUARE FOOTAGE: 2,540 SF LAND AREA: 1.13 Acres RENT COMMENCEMENT: May 13, 2008 LEASE EXPIRATION: December 21, 2030 YEAR BUILT: 2008 RIGHT OF FIRST REFUSAL: None investments.com
PROPERTY SUMMARY PROPERTY OVERVIEW: Investments is pleased to present a single tenant, 2,540 square foot, fee simple Ground Lease, to a Corporate Burger King location in the highly desirable area of St. Augustine, Florida. The property is strategically located along Dixie Highway (Highway 1) at the entrance to Palencia Village, one of Florida largest Master Planned Communities. The property has excellent visibility from Dixie Highway with over 25,000 cars per day as well as cross easement accessibility from Mercado Walk. The property was originally constructed in 2008 with tenant doing an early long term lease extension in 2017. The property is located next to Mercado Walk a 20,000 square foot mulc tenant retail center anchored by Starbucks. The tenant signed an original 10 year lease which began in July 2008 which was recently amended to include an addiconal 13 years with a primary term expiracon in December 2030. Following the remaining primary lease term, the tenant has Six, 5- year opcons with a 5% increase in opcon one and 10% Increases in the remaining. LOCATION OVERVIEW: Founded in 1565, St. AugusCne is the oldest concnuously occupied European established city, and the oldest port, in the concnental United States. St. AugusCne lies in a region of Florida known as The First Coast, which extends from Amelia Island in the north, south to Jacksonville, St. AugusCne and Palm Coast. Located in St. Johns County, the city has more than 50 auraccons, historic sites and points of interest and is also the headquarters for the Florida NaConal Guard. St. Johns County is located along the AtlanCc Ocean in northeast Florida. The City of St. AugusCne, the county seat, draws 6.5 million visitors annually. The City of St. AugusCne maintains architectural control over the colonial city, insuring that the inevitable change which occurs in a living urban area respects the past. Although primarily thought of as a vacacon descnacon with the area s historic auraccons, beaches, and sporcng venues, St. Johns County is fast becoming known as a premier locacon for business development. Due to the inclusion of Ponte Vedra Beach, it is one of the highest income counces in the United States. Ponte Vedra Beach is home to the worldwide headquarters for golf and for men s tennis the PGA Tour and the ATP Tour. Based upon the 2010 Census, the national demographics consulting firm Claritas has estimated that for 2017 there are approximately 15,443 residents and 5,689 households with a five- mile radius of the Property. According to Claritas, the average household income with a one- mile radius of the Property was estimated to be $125,534. investments.com
TENANT OVERVIEW Restaurant Brands Interna-onal (NYSE: QSR) Restaurant Brands InternaConal Inc. is one of the world's largest quick service restaurant companies with more than $27 billion in system sales and over 23,000 restaurants in more than 100 countries and U.S. territories. Restaurant Brands InternaConal owns two of the world's most prominent and iconic quick service restaurant brands TIM HORTONS, BURGER KING and POPEYES. These independently operated brands have been serving their respeccve guests, franchisees and communices for over 50 years. Every day, more than 11 million guests visit BURGER KING restaurants around the world. And they do so because the restaurants are known for serving high- quality, great- tascng, and affordable food. Founded in 1954, the BURGER KING brand is the second largest fast food hamburger chain in the world. The original HOME OF THE WHOPPER, their commitment to premium ingredients, signature recipes, and family- friendly dining experiences is what has defined the brand for more than 50 successful years. The company is majority- owned by the Brazilian investment company 3G Capital the previous majority owner of Burger King holding a 51% stake. The remainder of the company is publicly traded on the New York and Toronto Stock Exchanges, and owned by the prior shareholders of Burger King and Tim Hortons. The deal was approved by Tim Hortons' shareholders on December 9, 2014, and the company began trading on December 15, 2014. This loca-on is a Corporate Burger King loca-on. investments.com
PHOTOS Actual LocaCon FILE PHOTO Actual LocaCon
AERIAL KENSINGTON MASTER PLANNED COMMUNITY InternaConal Golf Parkway FILE PHOTO PALENCIA MASTER PLANNED COMMUNITY Coming 2018 FILE PHOTO
AERIAL ATLANTIC OCEAN ST. AUGUSTINE AIRPORT ST. AUGUSTINE PALENCIA MASTER PLANNED COMMUNITY InternaConal Golf Parkway Coming 2018
AERIAL Subject Property Future Development Mercado Walk Shopping Center
SITE PLAN Palencia Dry Cleaners Vina Nail & Spa investments.com
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DEMOGRAPHICS Descrip-on 1 Mile Radius 3 Mile Radius 5 Mile Radius Total Total Total % % % investments.com
CONTACT Ryan D. O Connell Investments 3219 East Camelback Road Phoenix, Arizona 85018 P. 602-595-4000 F. 602-467-3218 M. 602-790-9036 E. Ryan@investments.com investments.com