Embed Size (px)
Citation preview
Native Grill
[ REPRESENTATIVE PHOTO ]
Freddy’sDrive Thru
[ REPRESENTATIVE PHOTO ]
15-year absolute net lease to Freddy’s in Tucson, Arizona10205 E. Old Vail Road, Tucson, AZ 85747
[ www.CapitalPacific.com ]
JOhn [email protected] | (415) 274-2715 CA BRE# 01440360
In Conjunction with AZ Licensed Broker:Jessica Zahn Gibson, CIA Brokerage Company(619) 863-0840 | [email protected]
Freddy’s | 2
15-year absolute net lease Freddy’s in tucson, arizona
PROPERTy highlighTs
Pad to brand new Walmart Supercenter-anchored Houghton Town Center, which includes Panda Express, Taco Bell, Verizon, McDonald’s, Dunkin’ Donuts, AutoZone, Freddy’s, and Northwest Emergency Room Hospital.
Five minute drive from UA Tech Park, which has 6,500 employees and 2 million square feet of office, laboratory, and production including Raytheon, CitiGroup, and IBM.
Within the Vail School District (the state’s top performing district).
$85,000+ is the average household income within one and three-mile radii
BRAnd nEw COnsTRuCTiOn
The subject property is on a hard corner signalized intersection that connects numerous communities in southeast Tucson, both old and new, where a variety of top tier retailers have signed leases.
The Las Plazas at Old Vail development will cater to residents of Rita Ranch, Vail, and Corona de Tucson, as well as the 6,500 professionals working at the nearby UA Tech Park.
Large lot with over 75 parking spaces
Located within the tucson tech corridor - 70 companies are located from wilmot road to houghton road along interstate 10
core characteristics
FREddy’s
Over 160 stores in 18 states
Voted #1 of America’s Fastest Growing Restaurants - CNBC
OPERATOR/guARAnTOR (sEE PAgE 6 FOR mORE dETAils)
Operator/Guarantor has a 50-unit franchise agreement with Freddy’s covering seven western states and currently operates his twelve open stores below a 7% rent-to-sales ratio
Operator/Guarantor of this location recently purchased a majority interest in NativeGrill & Wings corporate, which currently has 32 operating units
Tenant currently operates 12 restaurants and combined with Native has approximately 50 under management
lEAsE
15-year lease; rental increases of 10% every 5 years and in option periods
Zero landlord responsibilities - all expenses are administered directly by tenant
Two separate personal guarantees with a net worth in excess of $15 million
[ representative photo ]
Freddy’s | 3
aerial
E mary Ann Cleveland way
E Valencia Road
E Ri
ta R
oad
s Ri
ta R
oad
E Old Vail Road
E Ol
d Va
il Ro
ad
s ho
ught
on R
oad
10
Cottonwood Elementary
mesquite Elementary
desert sky middle school
Empire high school
Vail Academy and high school
TUcsON cITY cENTER
10
RiTA RAnCh
hOughTOn TOwn CEnTER
LAs PLAZAs sHOPPING
cENTER
51,994 DAILY
21,000 DAILY
4,000 DAILY
ThE suBJECT PROPERTy is lOCATEd AT A hARd CORnER, signAliZEd inTERsECTiOn
Freddy’s | 4
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
PRICE $2,300,000 Price Per Square Foot: $696.97
Capitalization Rate: 6.00%
Total Rentable Area (SF): 3,300
Lot Size (AC): 1.00
STABILIZED INCOME Per Square FootScheduled Rent $41.82 $138,000
Effective Gross Income $41.82 $138,000
LESS Per Square FootTaxes NNN $0.00
Insurance NNN $0.00
Total Operating Expenses NNN $0.00
EQUALS NET OPERATING INCOME $138,000
income & expense
[ REPRESENTATIVE PHOTO ]
Freddy’s | 5
TENANT INFO LEASE TERMS RENT SUMMARY
Tenant Name Sq. Ft. Term CurrentRent
Monthly Rent
Yearly Rent
MonthlyRent/FT
Yearly Rent/FT
Freddy’s 3,300 1 5 $138,000 $11,500 $138,000 $3.48 $41.82
6 10 $12,650 $151,800 $3.83 $46.00
11 15 $13,915 $166,980 $4.22 $50.60
Option 1 16 20 $15,307 $183,678 $4.64 $55.66
Option 2 21 25 $16,837 $202,046 $5.10 $61.23
Option 3 26 30 $18,521 $222,250 $5.61 $67.35
Option 4 31 35 $20,373 $244,475 $6.17 $74.08
Totals: 3,300 $138,000 $11,500 $138,000 $3.48 $41.82
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
rent roll
[ surrounding Area ]
Freddy’s | 6
This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies.
site plan siTE PlAn KEy
PARCEL OUTLINE:
LAND AREA: 1.0 ACRES
BUILDING AREA: 3,300 SF
INGRESS/EGRESS:
Old VAil ROAd
Freddy’s | 7
ABOuT FREddy’s FROZEn CusTARd
Freddy’s Frozen Custard & Steakburgers is a quick-service restaurant chain based in Wichita, Kansas. The company opened its doors in 2002, franchised in 2004, and currently has over 150 Freddy’s restaurants across more than 23 states. From sandwiches to sundaes, Freddy’s makes food fresh to order.
Freddy’s Frozen Custard has again been recognized by Franchise Times® Magazine, this time on its inaugural Fast and Serious list in the March issue. The list uses a 10-point formula to identify fast-growing franchise systems that also have staying power. It is based on three years of impressive unit and sales growth and includes brands in other industries, not just restaurants.
Freddy’s has gain several recognitions for its excellence in 2013, including being named in the “Franchise 500” in Entrepreneurs Magazine, one of four “Rising Stars” in QSR magazine, “Next 300 Franchise Chains” in Times Magazine, 500/5000 list of “Fastest Growing Private Companies” in Inc. Magazine, and finally, in 2012, one of “8 Best Burger Chains Poised to Conquer America” by Business Inside.
ABOuT FRAnChisEE
The franchisee is an investor group of very strong guarantors (ask agent for more details) who have a 50-unit franchise agreement with Freddy’s covering seven western states. They have been operating on behalf of this franchise for over three years. They have twelve open locations in Arizona, Utah, Montana, and Idaho with leases signed to have over ten total stores next year, and intend to open a total of twenty stores within three years. There are three separate personal guaranty’s on the lease.
www.freddysusa.com
tenant overview
[ REPRESENTATIVE PHOTO ][ REPRESENTATIVE PHOTO ]
Freddy’s | 8
sUbjEcT PROPERTY Is ADjAcENT TO
HOUGHTON TOwN cENTER wITH wALmART
sUPERcENTER, PANDA ExPREss & mORE
area photos
Freddy’s | 9
area Development
TUcsON cITY cENTER
10
HOUGHTON TOwN cENTER
LAs PLAZAs sHOPPING cENTER
houghton Road
Old
Vail R
oad
Old Vail Road
Freddy’s | 10
TuCsOn, AZ OVERViEw
Tucson is the county seat of Pima County and is the second largest city in Arizona. The Greater Tucson area is home to approximately 1.02 million residents and serves as the anchor of all business in the Southern Arizona corridor.
Much of Tucson’s economic development has been centered on the evolution of the University of Arizona. Currently home to over 42,000 students, the university is among the top 20 U.S. public research institutions and located in the center of metropolitan Tucson.
The private sector has made commitments to create a growing, healthy economy with advanced technology industry sectors as its foundation. Raytheon Missile Systems, Texas Instruments, IMB, Intuit Inc., and Universal Avonics and just some of the technology companies that have a significant presence in Tucson. Roughly 150 Tucson companies are involved in the design and manufacture of optics and optoelectronics systems, earning the city the nickname “Optics Valley.”
TOP EmPLOYERsRaytheon
University of Arizona
Davis - Montahn Air Force Base
Walmart Stores
Pima County
2015 HOUsEHOLD INcOmEs
POPULATION3-Mile 5-Mile 7-Mile
2010 16,519 35,083 69,3342015 16,666 38,139 73,2752020 16,978 40,403 76,187
1-Mile 3-Mile 5-Mile
Average $86,756 $86,335 $78,242Median $77,565 $75,850 $65,119
23 MIN17 Miles
location & demographics
TUCSON
21,000 DA
ILY
Freddy’s | 11
A unique HUMANRESULTS-DRIVEN client experience
[ Copyright © 2015 Capital Pacific ]
BOB sAnnERCA BRE# 00869657
RiCK sAnnERCA BRE# 01792433
JOhn [email protected] | (415) 274-2715 CA BRE# 01440360
ThE CAPiTAl PACiFiC ExPERiEnCE - OuR dAily COmmiTmEnT TO OuR CliEnTs
[ www.CapitalPacific.com ]
Capital Pacific collaborates. Click here to meet the rest of our San Francisco team:
ChRis KOsTAnECKi
ChRis PETERs
dAVE luCAs
ZAndy smiTh
JACK nAVARRA
ZEB RiPPlE
JOE CACCAmO
gREgg sTEElE
KARlA ZEns
[ REPRESENTATIVE PHOTO ]
In Conjunction with AZ Licensed Broker:Jessica Zahn Gibson, CIA Brokerage Company(619) 863-0840 | [email protected]
