RUBY TUESDAY (SUBLEASED TO GALLETO’S) · 2019. 5. 16. · Ruby Tuesday was born of his vision of a restaurant where the food and drinks were handcrafted, fresh, and full of flavor,

™

OFFERING MEMORANDUM

RUBY TUESDAY (SUBLEASED TO GALLETO’S) 3875 SOUTH KIRKMAN ROAD, ORLANDO, FL 32811

Matthews Retail Advisors

CONFIDENTIALITY & DISCLAIMER STATEMENT

This Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of Ruby Tuesday located at 3875 South Kirkman Road, Orlando, FL 32811 (“Property”) . I t has been prepared by Matthews Retai l Advisors . This Offer ing Memorandum may not be al l - inclusive or contain a l l of the informat ion a prospect ive purchaser may desire. The informat ion contained in th is Offer ing Memorandum is conf ident ia l and furnished solely for the purpose of a review by a prospect ive purchaser of the Property. I t is not to be used for any other purpose or made avai lable to any other person without the wri t ten consent of Sel ler or Matthews Retai l Advisors . The mater ia l is based in part upon informat ion suppl ied by the Sel ler and in part upon f inancial informat ion obtained from sources i t deems rel iable. Owner, nor their of f icers , employees, or agents makes any representat ion or warranty, express or impl ied, as to the accuracy or completeness of th is Offer ing Memorandum or any of i ts contents and no legal l iabi l i ty is assumed or shal l be impl ied with respect thereto. Prospect ive purchasers should make their own project ions and form their own conclusions without rel iance upon the mater ia l contained herein and conduct their own due di l igence.

By acknowledging your receipt of th is Offer ing Memorandum for the Property, you agree:

1 . The Offer ing Memorandum and i ts contents are conf ident ia l ;

2 . You wi l l hold i t and treat i t in the str ictest of conf idence; and

3. You wi l l not , d i rect ly or indirect ly, d isclose or permit anyone else to disclose this Offer ing Memorandum or i ts contents in any fashion or manner detr imental to the interest of the Sel ler.

Owner and Matthews Retai l Advisors expressly reserve the r ight , at their sole discret ion, to reject any and al l expressions of interest or of fers to purchase the Property and to terminate discussions with any person or ent i ty reviewing this Offer ing Memorandum or making an of fer to purchase the Property unless and unt i l a wr i t ten agreement for the purchase and sale of the Property has been ful ly executed and del ivered.

I f you wish not to pursue negot iat ions leading to the acquis i t ion of the Property or in the future you discont inue such negot iat ions, then you agree to purge al l mater ia ls relat ing to th is Property including this Offer ing Memorandum.

A prospect ive purchaser ’s sole and exclusive r ights with respect to th is prospect ive t ransact ion, the Property, or informat ion provided herein or in connect ion with the sale of the Property shal l be l imited to those expressly provided in an executed Purchase Agreement and shal l be subject to the terms thereof. In no event shal l a prospect ive purchaser have any other c la ims against Sel ler or Matthews Retai l Advisors or any of their af f i l iates or any of their respect ive of f icers , Directors , shareholders, owners, employees, or agents for any damages, l iabi l i ty, or causes of act ion relat ing to th is sol ic i tat ion process or the market ing or sale of the Property.

This Offer ing Memorandum shal l not be deemed to represent the state of af fa i rs of the Property or const i tute an indicat ion that there has been no change in the state of af fa i rs of the Property s ince the date this Offer ing Memorandum.

Table of ContentsPRICING & FINANCIAL ANALYSIS

INVESTMENT OVERVIEW ............................................................ 2EXECUTIVE SUMMARY .................................................................3COMPANY OVERVIEW ...................................................................4

PROPERTY DESCRIPTIONPHYSICAL DESCRIPTION ..............................................................7BIRDS EYE ........................................................................................ 8REGIONAL MAP .............................................................................. 9TENANT MAP .................................................................................10

DEMOGRAPHICSCITY OVERVIEW | Orlando, FL ................................................... 12DEMOGRAPHICS REPORT ......................................................... 13

™

Gary ChouVP & Director

License No. 01911222O 310.919.5827M [email protected]

EXCLUSIVELY LISTED BY:

Justin BeckBroker of Record License No. BK3118299

Kevin ChangAssociate


Matthews Retail Advisors

Pricing & Financial Analysis

PRICING & FINANCIAL ANALYSIS

™

OFFERING MEMORANDUM | Ruby TuesdayP. 2 Matthews Real Estate Investment Services

INVESTMENT OVERVIEW

Investment Highlights

CORPORATE GUARANTEED

• Corporately Guaranteed - Ruby Tuesday, Inc. is the guarantor of the lease as the property is currently sublet to Galletto’s Wine Bar & Grill for approximately 1/4 year

• Galleto’s Wine Bar & Grill is a Portuguese & Spanish influenced fine dining restaurant

• Ruby Tuesday, Inc. is one of the largest full-service restaurant companies in the world with 687 locations in 44 states and 736 locations in 13 foreign countries

STRONG RETAIL CORRIDOR

• Excellent Retail Location – The property benefits from over 64,000 vehicles per day on S Kirkman Rd and is surrounded by synergistic retail tenants such as Publix Super Market, The UPS Store, RadioShack, Boston Market, Outback Steakhouse, AutoZone, Bank of America, Chick-fil-A, Burger King, Chase Bank, Five Guys, Panda Express, McDonald’s, Dunkin’ Donuts, Chipotle and FedEx Office Print & Ship Center amongst others

• Outstanding Demographics – There are over 20,000 people in a 1-mile radius, 119,000 people in a 3-mile radius and over 255,000 people in a 5-mile radius with over 11.96% growth in a 1-mile radius, 10.79% growth in a 3-mile radius and 10.47% growth in 5-mile radius

Matthews Real Estate Investment Services P. 3Ruby Tuesday | OFFERING MEMORANDUM

PRICING ANALYSISEXECUTIVE SUMMARY

RUBY TUESDAY (SUBLEASED TO GALLETTO’S)3875 SOUTH KIRKMAN ROAD ORLANDO, FL 32811

List Price ............................................................................................ $1,647,000

CAP Rate - Current .................................................................................... 12.0%Gross Leasable Area ..................................................................... ± 5,223 SFLot Size .................................................................... ± 1.32 Acres (57,499 SF)Year Built ........................................................................................................1998

Tenant Summary

Tenant Trade Name Galletto's Wine Bar & Grill

Type of Ownership Fee Simple

Lease Guarantor Corporate

Lease Type NNN

Roof and Structure Tenant Responsible

Original Lease Term 20

Lease Commencement Date 5/1/1998

Rent Commencement Date 5/1/1998

Lease Expiration Date 4/30/2018

Term Remaining on Lease ± .25 Years

Increase 10% Every 5 years

Options Two (2), Five (5) Year Options

Annualized Operating Data - IHOPMonthly Rent Annual Rent Rent/SF

Current - 4/30/2018 $16,469.05 $197,628.60 $37.84

Option 1: 5/1/2018 - 4/30/2023 $18,115.96 $217,391.46 $41.62

Option 2: 5/1/2023 - 4/30/2028 $19,927.55 $239,130.61 $45.78


BRAND OVERVIEW

Property Name Ruby Tuesday

Property Type Net Leased Casual Dining

Parent Company Trade Name Ruby Tuesday Inc.

Ownership Public

Credit Rating B-

Rating Agency Standard & Poor’s

Revenue $1.14 B

Net Income $3.194 M

Stock Symbol RT

Board NYSE

No. of Locations ±800

No. of Employees ±40,000

Headquartered Maryville, Tennessee

Web Site www.rubytuesday.com

Year Founded 1972

Nearly forty years ago, a young man named Sandy Beall hatched an idea that would lead to the creation of one of America’s favorite brands. Ruby Tuesday was born of his vision of a restaurant where the food and drinks were handcrafted, fresh, and full of flavor, made with quality ingredients and prepared and served by friendly, caring people, passionate about their work. He wanted a place that was casual and comfortable but that looked great, too. It was a combination so unique and special that he and his team had to invent it themselves.

From that first restaurant near the campus of the University of Tennessee in 1972 to nearly 800 restaurants across the United States and around the globe, Ruby Tuesday grew to become part of a large public foodservice company in 1982, to be its own independent, publicly traded company in 1996, and along the way to become one of the most well-known and beloved brands in casual dining.

PROPERTY DESCRIPTION

™

OFFERING MEMORANDUM | Ruby TuesdayP. 6 Matthews Retail Advisors

Matthews Retail Advisors P. 7Ruby Tuesday | OFFERING MEMORANDUM

PROPERTY DESCRIPTIONPHYSICAL DESCRIPTION

THE OFFERING

Property Name ................................................................................ Ruby Tuesday

Property Address ................................................... 3875 South Kirkman Road,

Orlando, FL 32811

Assessor’s Parcel Number .............................................................0387-4146-19

SITE DESCRIPTION

Number of Stories .............................................................................................One

Year Built .............................................................................................................1992

Gross Leasable Area (GLA) ............................................................... ± 5,223 SF

Lot Size.............................................................................. 1.32 Acres (57,499 SF)

Type of Ownership ...............................................................................Fee Simple

Parking ....................................................................................102 Surface Spaces

Parking Ratio................................................................................ 19.52 : 1,000 SF

Landscaping ........................................................................................Professional

Topography ................................................................................... Generally Level

CONSTRUCTION

Foundation ..........................................................................................Concrete Slab

Framing ................................................................................................................Wood

Exterior ............................................................................................... Painted Stucco

Parking Surface .............................................................................................. Asphalt

Roof ...........................................................................................................................Flat


BIRDS EYE

S

. Kirk

man

Rd

C

PD: 3

0,0

00

Ruby Tuesday | OFFERING MEMORANDUM


Matthews Real Estate Investment Services P. 9

REGIONAL MAP



Matthews Retail Advisors P. 10Ruby Tuesday | OFFERING MEMORANDUM

TENANT MAP


™


DEMOGRAPHIC ANALYSISCITY OVERVIEW | ORLANDO, FL

Orlando is a city in the U.S. state of Florida, and is the county seat of Orange County. Located in Central Florida, it is the center of the Orlando metropolitan area, making it the 26th largest metropolitan area in the United States, the sixth largest metropolitan area in the Southern United States, and the third largest metropolitan area in the state of Florida.

The City of Orlando is nicknamed “The City Beautiful” and its symbol is the fountain at Lake Eola. Orlando is also known as “The Theme Park Capital of the World.” Orlando’s famous attractions form the backbone of its tourism industry: Walt Disney World Resort, locat-ed approximately 21 miles southwest of Downtown Orlando in Lake Buena Vista, opened by the Walt Disney Company in 1971; the Uni-versal Orlando Resort, opened in 1999 as a major expansion of Uni-versal Studios Florida; SeaWorld; Gatorland; and Wet ‘n Wild. With the exception of Walt Disney World, most major attractions are located along International Drive. The city is also one of the busiest American cities for conferences and conventions.

Ruby Tuesday | OFFERING MEMORANDUM

DEMOGRAPHIC ANALYSIS

Matthews Real Estate Investment Services P. 13

DEMOGRAPHICS REPORT

Population 1-Mile 3-Mile 5-Mile2020 Projection 23,486 124,957 267,5982015 Estimate 20,938 114,669 248,4072010 Census 17,951 103,565 228,5652000 Census 11,147 84,059 202,611Growth 2000-2010 61.03% 23.21% 12.81%Growth 2010-2015 16.64% 10.72% 8.68%Growth 2015-2020 12.17% 8.97% 7.73%

Households2020 Projection 10,503 48,619 100,5952015 Estimate 9,403 44,308 92,6332010 Census 8,101 39,573 84,0892000 Census 5,244 31,574 72,738Growth 2000-2010 54.47% 25.33% 15.60%Growth 2010-2015 16.07% 11.96% 10.16%Growth 2015-2020 11.70% 9.73% 8.59%

Income$0 - $15,000 13.53% 14.45% 16.68%$15,000 - $24,999 12.76% 16.22% 16.52%$25,000 - $34,999 12.42% 14.17% 14.29%$35,000 - $49,999 22.83% 18.13% 15.84%$50,000 - $74,999 22.19% 18.72% 16.82%$75,000 - $99,999 8.03% 8.31% 7.68%$100,000 - $124,999 3.74% 4.02% 4.48%$125,000 - $149,999 1.72% 1.98% 2.30%$150,000 - $199,999 1.68% 2.13% 2.58%$200,000 - $249,999 0.46% 0.71% 0.91%$250,000 - $499,999 0.55% 0.96% 1.42%$500,000+ 0.07% 0.21% 0.48%2015 Est. Average Household Income $50,710 $51,927 $54,5792015 Est. Median Household Income $42,418 $39,272 $37,376

Matthews Real Estate Investment Services | 841 Apollo Street, Suite 150 | El Segundo, CA 90245 | www.Matthews.com

RUBY TUESDAY3875 South Kirkman RoadOrlando, FL 32811OFFERING MEMORANDUM

Justin BeckBroker of Record License No. BK3118299

Gary ChouVP & Director


Kevin ChangAssociate


™

Documents

RUBY TUESDAY (SUBLEASED TO GALLETO’S) · 2019. 5. 16. · Ruby Tuesday was born of his vision of a restaurant where the food and drinks were handcrafted, fresh, and full of flavor,