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EXP DALLAS
214.522.7200
JOE CAPUTO
joe@exp1031.com
BOB MOORHEAD
bob@exp1031.com
property. Built in 1995, approximately 3,400 square foot building on approximately 0.70 acres.
tenant. Lessee: Star Brands III, LLC dba KFC is an asset development firm that is focused primarily on the ownership and management of branded restaurants.
The company currently owns 10 KFC restaurants located in the Southeastern United States.
lease structure. Brand new, 15-year, absolute NNN lease with 1.5% annual rent increases during primary term and option periods.
location. Located on North Westport Drive on the northeast corner of the intersection of Lobdell Highway (33,256 Cars / Day) and Interstate 10 (87,735 Cars /
Day) 2 exits west of the Mississippi River and Baton Rouge, LA (on the east bank of the Mississippi River). Neighboring Baton Rouge: home to Louisiana State
University, ranked in “Top 10 Places for Young Adults” Portfolio Magazine, 2010; “Top 20 Cities in North America for Economic Strength” Brookings, 2010; and
Ranked No 9 “Best Place to Start a New Business” CNN, 2009. The subject property is an outparcel to a Holiday Inn Express and a Comfort Inn, and is adjacent
to the West Baton Rouge Tourist Information Center.
REP PHOTO
EXCLUSIVE OFFERING | $1,305,000 - 7.25% CAP
KFC / Taco Bell
2830 North Westport Drive, Port Allen, Louisiana (BATON ROUGE METRO)
Broker of Record: Beau J. Box | Beau Box Commercial Real Estate | 225-237-3343 | box@beaubox.com | P O Box 66865, Baton Rouge LA 70896 USA
Louisiana Real Estate License: 72498
EXP Realty Advisors, Inc. (“Agent”) has been engaged as an agent for the sale of the
property located at 2830 North Westport Drive in Port Allen, LA by the owner of the
Property (“Seller”). The Property is being offered for sale in an “as-is, where-is” condition
and Seller and Agent make no representations or warranties as to the accuracy of the
information contained in this Offering Memorandum. The enclosed materials include highly
confidential information and are being furnished solely for the purpose of review by
prospective purchasers of the interest described herein. The enclosed materials are being
provided solely to facilitate the prospective investor’s own due diligence for which it shall be
fully and solely responsible. The material contained herein is based on information and
sources deemed to be reliable, but no representation or warranty, express or implied, is
being made by Agent or Seller or any of their respective representatives, affiliates, officers,
employees, shareholders, partners and directors, as to the accuracy or completeness of the
information contained herein. Summaries contained herein of any legal or other documents
are not intended to be comprehensive statements of the terms of such documents, but
rather only outlines of some of the principal provisions contained therein. Neither the Agent
nor the Seller shall have any liability whatsoever for the accuracy or completeness of the
information contained herein or any other written or oral communication or information
transmitted or made available or any action taken or decision made by the recipient with
respect to the Property. Interested parties are to make their own investigations, projections
and conclusions without reliance upon the material contained herein. Seller reserves the
right, at its sole and absolute discretion, to withdraw the Property from being marketed for
sale at any time and for any reason. Seller and Agent each expressly reserves the right, at
their sole and absolute discretion, to reject any and all expressions of interest or offers
regarding the Property and/or to terminate discussions with any entity at any time, with or
without notice. This offering is made subject to omissions, correction of errors, change of
price or other terms, prior sale or withdrawal from the market without notice. Agent is not
authorized to make any representations or agreements on behalf of Seller. Seller shall
have no legal commitment or obligation to any interested party reviewing the enclosed
materials, performing additional investigation and/or making an offer to purchase the
Property unless and until a binding written agreement for the purchase of the Property has
been fully executed, delivered, and approved by Seller and any conditions to Seller’s
obligations hereunder have been satisfied or waived. By taking possession of and
reviewing the information contained herein, the recipient agrees that (a) the enclosed
materials and their contents are of a highly confidential nature and will be held and treated
in the strictest confidence and shall be returned to Agent or Seller promptly upon request;
and (b) the recipient shall not contact employees or tenants of the Property directly or
indirectly regarding any aspect of the enclosed materials or the Property without the prior
written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be
copied or otherwise reproduced without the prior written authorization of Seller and Agent.
PAGE 3: INVESTMENT | TENANT | LEASE OVERVIEW
PAGE 1: COVER
PAGE 2: TABLE OF CONTENTS | DISCLAIMER
PAGE 6-7: LOCATION MAPS
Table of contents | Disclaimer KFC / Taco Bell
2830 North Westport Drive in Port Allen, Louisiana
PAGE 4: AERIAL PHOTOGRAPH
PAGE 5: LOCATION OVERVIEW
Disclaimer
PAGE 8: DEMOGRAPHICS
SUBJECT PROPERTY
Broker of Record: Beau J. Box | Beau Box Commercial Real Estate | 225-237-3343 | box@beaubox.com | P O Box 66865, Baton Rouge LA 70896 USA
Louisiana Real Estate License: 72498
Star Brands III, LLC / KFC / Taco Bell
Franchisee: Star Brands III, LLC is an asset development firm that is focused primarily on the ownership and management of branded restaurants. It
concentrates its restaurant activities on opening, managing, and enhancing restaurants for the purpose of maximizing shareholder value. The company currently
owns 10 KFC restaurants located in the Southeastern United States.
KFC: KFC is an global chain of quick service restaurants founded in 1952, and the company is based in Louisville, Kentucky. A subsidiary of Yum! Brands, Inc.,
KFC is a core component of one of the largest restaurant companies in the world. Today, KFC is the world’s most popular chicken restaurant chain, offering fried
chicken pieces and variations such as chicken burgers and wraps in Original Recipe, Extra Crispy, Colonel’s Crispy Strips, and Honey BBQ Wings, with home-
style sides and freshly made chicken sandwiches. Since Colonel Harland Sanders opened the first franchise in 1952, KFC has grown to over 17,000 stores in 105
countries and territories around the world.
Taco Bell: Taco Bell is an American chain of fast-food restaurants based in Irvine, California. A subsidiary of Yum! Brands, Inc., which serves American-adapted
Mexican food. Taco Bell serves tacos, burritos, quesadillas, nachos, other specialty items, and a variety of "Value Menu" items. Taco Bell serves more than 2
billion consumers each year in more than 5,800 restaurants in the U.S., more than 80 percent of which are owned and operated by independent franchisees.
Taco Bell is also present in the Dominican Republic, Puerto Rico, Guam, Aruba, Costa Rica, Chile, Colombia, Ecuador, Panama, and on AAFES military bases in
Japan, Germany, and Iraq.
PRICE: $1,305,000
CAP RATE: 7.25%
NET OPERATING INCOME: $94,581
BUILDING AREA: 3,400 + Square Feet
LAND AREA: 0.70 + Acres
YEAR BUILT: 1995
OWNERSHIP: Fee Simple Interest
OCCUPANCY: 100%
Tenant overview
3
Investment overview KFC / Taco Bell
2830 North Westport Drive in Port Allen, Louisiana
Star Brands III, LLC, a Louisiana limited liability company dba KFC / Taco Bell
Lease overview
Lease Expiration: July 2027
Rent Commencement: July 2012
Initial Lease Term: 15-Years, Plus 4, 5-Year Options to Renew
Rent Increases: 1.5% Annually During Primary Term & Options
Lease Type: Absolute NNN | No Landlord Responsibility
Annual Rent (Current): $94,851
Annual Rent Year 2: $95,999
Annual Rent Year 3: $97,439
Annual Rent Year 4: $98,901
Annual Rent Year 5: $100,384
Annual Rent Year 6: $101,890
Annual Rent Year 9: $106,544
Annual Rent Year 10: $108,142
Annual Rent Year 11: $109,765
Annual Rent Year 12: $111,411
Annual Rent Year 13: $113,082
Annual Rent Year 14: $114,779
Annual Rent Year 7: $103,418
Annual Rent Year 8: $104,970
Annual Rent Year 15: $116,500
Broker of Record: Beau J. Box | Beau Box Commercial Real Estate | 225-237-3343 | box@beaubox.com | P O Box 66865, Baton Rouge LA 70896 USA
Louisiana Real Estate License: 72498
4
Aerial photo KFC / Taco Bell
2830 North Westport Drive in Port Allen, Louisiana
Broker of Record: Beau J. Box | Beau Box Commercial Real Estate | 225-237-3343 | box@beaubox.com | P O Box 66865, Baton Rouge LA 70896 USA
Louisiana Real Estate License: 72498
5
Location overview KFC / Taco Bell
2830 North Westport Drive in Port Allen, Louisiana
GREATER BATON ROUGE
The Greater Baton Rouge Metropolitan Area, known as Greater Baton Rouge,
is one of the fastest growing metropolitan areas in the U.S. The population as
of the 2010 census was 802,484, a 33.1% 10-year increase. The city is home
to the Shaw Group, a Fortune 500 company. The Shaw Group is a
conglomerate with core competencies in engineering, procurement, piping,
energy, chemical, and nuclear power. Lamar Advertising Company is also
headquartered in Baton Rouge. The main campus of Louisiana State
University (28,985 Students) is located in Baton Rouge.
Baton Rouge’s largest industry is petrochemical production and manufacturing.
The ExxonMobil facility in Baton Rouge is the 2nd largest oil refinery in the
country and is among the world’s 10 largest. Baton Rouge also has rail,
highway, pipeline, and deep water access. Albemarle is headquartered in
Baton Rouge. Dow Chemical Company has a large plant in Iberville Parish
near Plaquemine. NanYa Technology Corporation has a large facility in North
Baton Rouge that makes PVC and C-PVC pipes. Shaw Construction, Turner,
and Harmony all started with performing construction work at these plants.
The research hospitals Our Lady of the Lake, Our Lady of the Lake Children’s
Hospital (affiliated with the St. Jude Children’s Research Hospital), Mary Bird
Perkins Cancer Center, and Earl K. Long are located in Baton Rouge. These
facilities along with an emerging medical corridor are positioning Baton Rouge
to eventually support a medical district similar to the Texas Medical Center in
Houston. LSU and Tulane have both announced plans to construct satellite
medical campuses in Baton Rouge to partner with Our Lady of the Lake
Medical Center and Baton Rouge General Medical Center, respectively.
Louisiana State University’s Pennington Biomedical Research Center, which
conducts clinical and biological research, also contributes to research-related
employment in the area around the Baton Rouge medical district.
The film industry is a strong growth industry in Baton Rouge, which is now
home to the Celtic Media Center a new and expanding movie 23-acre studio.
Numerous films and movies are filmed in the Baton Rouge area every year.
Due largely to generous transferable tax credits, there has been significant
development in post-production facilities and movie studios in the region.
IMMEDIATE TRADE AREA
KFC / Taco Bell is strategically located along North Westport Drive on the
northeast corner at the intersection of Lobdell Highway (33,526 Cars / Day)
and Interstate 10 (87,735 Cars / Day). North Westport Drive is a frontage road
serving retail properties on the northeast corner of the Interstate 10 and Lobdell
Highway intersection. Interstate 10 is the 4th longest Interstate in the US, and
is the southernmost east-west, coast-to-coast Interstate Highway. Interstate 10
crosses the Mississippi River into Baton Rough 2 miles east of the site. Lobdell
Highway is a major north / south roadway connecting Interstate 10 with US
Highway 190 to the north. Lobdell Highway is the primary roadway for traffic
travelling between Baton Rouge and Alexandria to bypass Lafayette, LA on US
190.
The subject property is the first major retail exit off Interstate 10 west of the
Mississippi River. The site is an outparcel to 2 hotels, Holiday Inn Express and
Comfort Inn, and is adjacent to a Burger King and the West Baton Rouge
Tourist Information Center. Nearby Retailers include Shoney’s, Waffle House,
McDonald’s, Popeye’s, Love’s Travel Stops, several hotels, and 3 small
casinos.
PORT ALLEN, LOUISIANA
Port Allen is located between Interstate 10 and US Highway 190 on the west
bank of the Mississippi River directly across from Baton Rouge. The city has a
population of 5,180 per the 2010 census, and is home to the Port of Greater
Baton Rouge, the Port Allen Lock, and the Port Allen Railroad Depot.
The Port of Greater Baton Rouge, in Port Allen, is the 9th largest port the U.S.
in terms of tonnage shipped. It is also the furthest inland deep-water port on
the Mississippi River that can accommodate ocean-going tankers and cargo
carriers. Deep-draft ships transfer their cargo (grain, crude oil, cars,
containers) at Baton Rouge onto rails and pipelines (to travel east-west) or
barges (to travel north on the Mississippi River). The port handles roughly 61
million short tons of cargo each year. The Port Allen Lock connects the
Mississippi River to the Intracoastal Waterway connecting Florida and Texas.
Broker of Record: Beau J. Box | Beau Box Commercial Real Estate | 225-237-3343 | box@beaubox.com | P O Box 66865, Baton Rouge LA 70896 USA
Louisiana Real Estate License: 72498
6
Location map KFC / Taco Bell
2830 North Westport Drive in Port Allen, Louisiana
Broker of Record: Beau J. Box | Beau Box Commercial Real Estate | 225-237-3343 | box@beaubox.com | P O Box 66865, Baton Rouge LA 70896 USA
Louisiana Real Estate License: 72498
7
Location map KFC / Taco Bell
2830 North Westport Drive in Port Allen, Louisiana
Broker of Record: Beau J. Box | Beau Box Commercial Real Estate | 225-237-3343 | box@beaubox.com | P O Box 66865, Baton Rouge LA 70896 USA
Louisiana Real Estate License: 72498
8
Demographics KFC / Taco Bell
2830 North Westport Drive in Port Allen, Louisiana
Demographic snapshot
EXXON MOBIL REFINERY
DOWNTOWN BATON ROUGE
Radius 1 Mile 3 Mile 5 Mile
Population:
2016 Projection 5,287 65,865 178,329
2011 Estimate 5,177 64,184 174,899
2010 Census 5,197 64,020 175,118
Growth 2011-2016 2.10% 2.60% 2.00%
Growth 2010-2011 -0.40% 0.30% -0.10%
2011 Households:
2016 Projection 1,999 24,385 69,532
2011 Estimate 1,969 23,784 68,052
2010 Census 1,977 23,736 68,147
Growth 2011-2016 1.50% 2.50% 2.20%
Growth 2010-2011 -0.40% 0.20% -0.10%
Owner Occupied 1,154 12,806 37,745
Renter Occupied 816 10,978 30,306
2011 Avg Household Income $57,586 $50,989 $57,891
2011 Med Household Income $44,396 $36,783 $39,828
2011 Per Capita Income $22,017 $19,359 $22,985
2011 Households by Household Inc:
Income Less than $15,000 188 4,563 11,721
Income $15,000 - $24,999 278 3,625 9,755
Income $25,000 - $34,999 269 3,115 8,561
Income $35,000 - $49,999 356 3,662 10,020
Income $50,000 - $74,999 402 3,726 10,855
Income $75,000 - $99,999 272 2,475 7,011
Income $100,000 - $149,999 135 1,815 6,306
Income $150,000 - $249,999 29 486 2,039
Broker of Record: Beau J. Box | Beau Box Commercial Real Estate | 225-237-3343 | box@beaubox.com | P O Box 66865, Baton Rouge LA 70896 USA
Louisiana Real Estate License: 72498
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