BIMBO BAKERIES USA DISTRIBUTION FACILITY - RUTLAND, …...Quality industrial real estate giving the investor the option of future redevelopment for the property. ... Grupo Bimbo Grupo

JAMES CAPITAL ADVISORS, INC.BIMBO BAKERIES USA DISTRIBUTION FACILITY - RUTLAND, VT

2 69 Park St, Rutland, VT 05701

JAMES CAPITAL ADVISORS

MARKETING PACKAGE

CONTENTS

CONTACT INFORMATION

PAGE

Investment Summary

Lease Summary

Site Plan

Retail Aerial

Rent Schedule

About the Brand

Location Overview

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05

06

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10

69 Park StRutland, VT 05701

joel cukierSenior Associate(424) 325-2618

69 Park St, Rutland, VT 0570103

BIMBO BAKERIES USA DISTRIBUTION FACILITY - RUTLAND, VT

INVESTMENT SUMMARY

Tenant

Street Address

City

State

Zip

GLA

Lot Size

Year Built

$1.1M7.85%$87K

Price / SF

Rent / SF

$109.17

$8.57

Bimbo Bakery

69 Park St

Rutland

VT

05701

10,192 SF

1.52 AC

1950

Largest Bakery Company in The United StatesBimbo Bakeries USA is the American corporate arm of the Mexican multinational bakery product manufacturing company Grupo Bimbo, a multi-billion dollar company and the largest bakery company in the United States with brands like Wonder Bread Entenmann’s, Sara Lee, Oroweat and Thomas.Strategic Industrial CorridorThe subject property benefits from its strong industrial location with dozens of industrial properties in the immediate area and just one block off Main St.NNN Lease with Minimal Landlord ResponsibilitiesBimbo is responsible for the CAM, Taxes, Insurance & Utilities on the property. The landlord is solely responsible for the roof & structure of the building. The exterior of the building is masonry construction with a sto finish & the roof is a rubber membrane roof. A brand new boiler was installed in 2019.Early Lease Extension with Large Rent IncreaseBimbo executed and early 3-year lease extension with an upcoming 14% rent increase in December of 2020 showing their commitment to the site.Replaceable Market RentsInline market rents reducing the landlords risk of the tenant relocating.

$1,112,662PURCHASE PRICE

7.85%CAP RATE

$87,344NET OPERATING INCOME



LEASE SUMMARY

Lease Type

Type of Ownership

Original Lease Term

Commencement Date

Lease Expiration

Term Remaining

Increases

Options

Real Estate Taxes

Insurance

Roof & Structure

Lease Guarantor

Company Name

Ownership

Years in Business

Number of Locations

Triple-Net (NNN)

Fee Simple

5 Years

3/13/2002

11/30/2023

4+ Years

See Rent Schedule

None

Tenant Responsible

Tenant Responsible

Landlord Responsible

Corporate

Bimbo Bakeries USA

Public

21

50

Institutional Quality Investment PropertyThe offering is the fee simple interest in a bakery warehouse/distribution facility, providing prospective investors the opportunity to purchase an institutional quality asset that is leased to Bimbo Bakeries USA of Horsham, PA, a wholly-owned subsidiary of Grupo Bimbo (BMV: BIMBO) The world’s largest baking company.Central LocationLocated Directly Off of U.S. Route 7 which serves as the North / South highway in the state ofVermont and approximately one mile from U.S. Route 4 which serves as one of the main arteriesbetween New York and New Hampshire.Large 1.52 Acre ParcelQuality industrial real estate giving the investor the option of future redevelopment for the property.This finished space has approximately 750 square feet of retail area selling products to the public, and an office area of approximately 1500 square feet.Long-Term Industrial Distribution Bakery TenancyBimbo has been at this location since 2002 and has repeatedly executed their options and extended their lease.



SITE PLAN



RETAIL AERIAL



RENT SCHEDULE

PERIOD

12/1/2018 - 11/30/2020

12/1/2020 - 11/30/2023

TERM

Base Term

Base Term

ANNUAL RENT

$87,344

$99,800

MONTHLY RENT

$7,278.67

$8,316.67

INCREASE

-

14%

CAP RATE

7.85%

8.97%



ABOUT THE BRAND

Bimbo Bakeries USA

Bimbo Bakeries USA is the American corporate arm of the Mexican multinational bakery product manufacturing company Grupo Bimbo. It is the largest bakery company in the United States. The company, headquartered in Horsham, Pennsylvania, a suburb of Philadelphia, owns many fresh bread and sweet baked goods brands in the United States, including Entenmann’s, Sara Lee, and Thomas’. It is also a top advertising sponsor for many major soccer teams around the globe.

Grupo Bimbo

Grupo Bimbo, S.A.B. de C.V., known as Bimbo, is a Mexican multinational bakery product manufacturing company headquartered in Mexico City, Mexico. It is the world’s largest baking company and operates the largest bakeries in the United States, Mexico, Canada, Chile, Peru, Colombia, and Spain, and has some of the widest distribution networks in Mexico and the United States. It was also the ninth largest company of Mexico by revenues in 2013.

Bimbo reported revenues of US$14.1 billion for 2014. It has more than 138,000 employees, 165 manufacturing plants and 2.5 million sales centers located in 32 countries in America, Europe and Asia. It operates more than 100 trademarks, among which are Bimbo, Tia Rosa, Marinela, Wonder (in Mexico only), Barcel, Sara Lee, Mrs Baird’s and Oroweat. Bimbo has one of the widest distribution networks in the world, surpassing 52,000 routes Bimbo operates under a scheme of recurrent sales channels views, making three daily visits to the same establishment.

60+60+BAKERIES OPERATED 22k22,000+EMPLOYEES11K11,000+SALES ROUTES



1. Downtown Farmers Market251 West St, Rutland, VT 05701

1.5 MILES FROM SUBJECT PROPERTY

2. Paramount Theater30 Center St, Rutland, VT 05701


3. Pine Hill Park2 Oak St Ext, Rutland, VT 05701


4. Killington / Pico Mountains Ski Areas73 Alpine Dr, Mendon, VT 05701

10 MILES FROM SUBJECT PROPERTY

5. Spartan Arena100 Diamond Run Mall, Rutland, VT 05701


6. Wilson Castle2970 W Proctor Rd, Proctor, VT 05765

4 MILES FROM SUBJECT PROPERTY

LOCATION OVERVIEW



LOCATION OVERVIEW

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Downtown Farmers MarketThe Vermont Farmers Market and Rutland County Farmers Market combine forces at Depot Park every week of the year.

Killington/Pico Mountains Ski AreasWith 155 trails, 21 lifts & 1,509 acres extendingacross six mountain peaks, Killington is thelargest ski resort east of the Rockies..

Paramount TheaterThe Paramount Theater, also known as The Playhouse, is a historic performance theater located in Rutland, Vermont.

Spartan ArenaThe Spartan Arena is home to Castleton University men’s and women’s ice hockey programs, as well as many other events.

Pine Hill ParkOnly two miles from Downtown Rutland, Pine Hill Park offers 16 miles of trails spread over 325 acres of terrain.

Wilson CastleLocated in nearby Proctor, the Wilson Castle boasts 13 fireplaces, 84 stained glass windows, and 32 rooms to explore.



Historic Downtown RutlandDowntown Rutland is home to the state’s largest year-round farmers market, a brilliantly restored 1912 Paramount Theatre, incredible public art installations, an engaging children’s museum and more. Many of the buildings are listed on the National Register of Historic Places due to the area’s designation as the Rutland Downtown Historic District. Downtown Rutland is also close to several indoor and outdoor recreational areas including the Long Trail, Killington and Pico Mountains, Pine Hill Park, and Castleton Arena and Giorgetti Arena.

College of St. JosephFounded in 1956, College of St. Joseph is a small, independent, nonprofit Catholic institution located in the heart of Vermont’s Green Mountains. This idyllic 117-wooded acre campus sits on the edge of Rutland’s city limits, providing a comfortable walk to both a vibrant downtown and several recreation areas. College of St. Joseph was named a top 100 “Best Bang for the Buck” school by Washington Monthly in 2015 and was ranked in the top 15 percent in The Economist’s College rankings.

LOCATION OVERVIEW

Rutland, VTThe city of Rutland is the seat of Rutland County, Vermont, United States. As of the 2010 census, the city had a total population of 16,495. It is located approximately 65 miles north of the Massachusetts state line and 20 miles east of the New York state line. Rutland is the third largest city in the state of Vermont after Burlington and South Burlington. It is surrounded by the town of Rutland, which is a separate municipality. The downtown area of the city is listed as a historic district on the National Register of Historic Places.

The present 12,000 acres of the town is home to all types of residences, farms, and considerable commercial activity which provides a significant number of manufacturing jobs. Manufacturers suchas General Electric and Isovolta Inc. are located in the southern section of the town along with theGreen Mountain Shopping Plaza. With world-class skiing just up the road, at the Killington and Picoski areas, there are over 400 hotel and motel rooms in town as well as numerous restaurants.



DEMOGRAPHICS

POPULATION

2024 Projection

2019 Estimate

2010 Census

Growth ‘19 - ‘24

Growth ‘10 - ‘19

HOUSEHOLDS

2024 Projection

2019 Estimate

2010 Census

Growth ‘19 - ‘24

Growth ‘10 - ‘19

Average Income

Median Income

3-Mile

17,511

17,923

19,455

-2.30%

-7.87%

3-Mile

7,786

7,967

8,640

-2.27%

-7.79%

$59,822

$42,112

1-Mile

8,249

8,240

7,943

0.11%

3.74%

1-Mile

3,777

3,770

3,625

0.19%

4.00%

$43,856

$30,226

5-Mile

23,109

23,570

25,180

-1.96%

-6.39%

5-Mile

10,157

10,364

11,093

-2.00%

-6.57%

$61,598

$44,875

14 69 Park St, Rutland, VT 05701

The information contained in this Marketing Brochure has been obtained from sources believed to be reliable, but the accuracy or completeness of the information contained therein cannot be guaranteed. James Capital Advisors, Inc. & Chris Fucci (“Broker”) has not, and will not, verify any of this information, nor has Broker conducted, nor will it conduct, any investigation regarding these matters. Broker makes no represen-tations, guarantees, or warranties of any nature about the accuracy or completeness of any information provided. The information provided in this brochure is in no way a substitute for a thorough due diligence investigation by Buyer. Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to income and expenses for this property nor the future financial performance of the property. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties as to the size and square footage of the property, the presence of any contaminating substances at the property, the physical condition of the property or compliance with any State, Local or Federal regulations. In addition, Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to the financial condition or future financial condition of any tenants, nor any future plans or intentions of tenants with regard to the continued occupancy of the property. All parties are aware that Broker has no affirmative obligation to conduct a due diligence examination of the property for any Buyer. Any and all projections or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. Therefore, Broker assumes no legal responsibility for accuracy or completeness of this information, and expressly disclaims all representations, guarantees, or warranties related thereto. The value of the property to any Buyer depends on numerous factors that must be evaluated by Buyer and Buyer’s legal, tax, construction, and financial advisors. Buyer and Buyer’s advisors should conduct a thorough, independent investigation of the property to determine its suitability for Buyer’s intended usage. This investment, as with all real estate investments, carries a substantial risk. As such, Buyer and Buyer’s legal and financial advisors are strongly advised to request and review all legal and financial documentations related to the property and tenants.

A tenant’s past performance is not a guarantee of future performance. The lease rate stated for some properties may be based on a tenant’s projected sales with little or no record of actual performance or com-parable rents for the area in question. Returns are in no way guaranteed. Tenants may fail to pay the rent or property taxes or any other tenant obligations under the terms of the lease or may default under the terms of such lease. Regardless of tenant’s history of performance, and/or any lease guarantors and/or guarantees, Buyer is responsible for conducting Buyer’s own investigation of all matters related to any and all tenants and lease agreements. Broker is not, in any way, responsible for the performance of any tenant or for any breach or default by any tenant of any terms of any lease agreement related to the property. Further, Buyer is responsible for conducting Buyer’s own independent investigation of all matters related to the value of the property, including, but not limited to, the value of any long-term leases. Buyer must carefully evaluate the possibility of tenants vacating the property or breaching their leases and the likelihood and financial impact of being required to find a replacement tenant if the current tenant should default and/or abandon the property. Buyer must also evaluate Buyer’s legal ability to make alternate use of the property in the event of a tenant abandonment of the property.

CONFIDENTIALITYThis Marketing Brochure and the information contained within, is propriety and strictly confidential. It is intended to be used only by the party receiving it from Broker. It should not be made available to any other person or entity without the express written consent of Broker.

RELEASEThis Marketing Brochure has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless Broker from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. In no event shall James Capital Advisors, Inc. or Broker be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this Marketing Brochure or any information contained herein.

NON-ENDORSEMENTBroker is not affiliated with, endorsed by or sponsored in any way by any tenant or lessee identified in this Marketing Brochure. The presence of any entity’s logo or name is not intended in any way to indicate affiliation, sponsorship or endorsement by said entity of Broker.

JAMES CAPITAL ADVISORS, INC.

DISCLAIMER


FOR INQUIRIES

PLEASE CONTACT

joel cukierSenior Associate

(424) [email protected] RE Lic. 02005095

chris fucciBroker of Record

(802) [email protected] RE Lic. 81.0000019Chris Fucci Associates, LtdCORP. Lic. 083.0001196-MAIN

Documents

BIMBO BAKERIES USA DISTRIBUTION FACILITY - RUTLAND, …...Quality industrial real estate giving the investor the option of future redevelopment for the property. ... Grupo Bimbo Grupo