ZOËS KITCHEN STRIP CENTER JAMES CAPITAL ADVISORS, INC.€¦ · Jewelry Repair Center. Sports Clips Summit Nails. Zoës Kitchen LEASE TYPE. Triple-Net (NNN) Triple-Net (NNN) Triple-Net

JAMES CAPITAL ADVISORS, INC.ZOËS KITCHEN STRIP CENTER

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JAMES CAPITAL ADVISORS

MARKETING PACKAGE

CONTENTS

CONTACT INFORMATION

PAGE

Investment Summary

Retail Aerial

Investment Highlights

Rent Schedule

Developments

Retail Aerial

Site Plans

About the Brand

Location Overview

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Richard BrehautVice President(424) [email protected]

ZOËS Kitchen STRIP CENTER6275 University Dr NWHuntsville, AL 35806

TONY ANDERSONVice President(424) [email protected]

6275 UNIVERSITY DR NW, HUNTSVILLE, AL 3580603

ZOËS KITCHEN STRIP CENTER - HUNTSVILLE, AL

INVESTMENT SUMMARY

Street Address

City

State

Zip

Cumulative GLA

Lot Size

Year Built

$3.2M7.00%$230K

Price / SF $285.80

6275 University Dr NW.

Huntsville

AL

35806

11,543 SF

1.64 AC

2003

$3,298,948PURCHASE PRICE

7.00%CAP RATE

$230,926NET OPERATING INCOME

Gross Potential Rent

Expense Reimbursements

Gross Potential Income

Vacancy Allowance

Effective Gross Income

Total Operating Expenses

Net Operating Income

$240,967.33

$23,971.20

$264,938.53

$10,041.00

$254,897.53

$23,971.20

$230,926.33



RETAIL AERIAL



Institutional Economic Community DriversAccording to Harrison Diamond, Huntsville Business Relations Officer, one in four workers are employed in the tech industry; which rivals Silicon Valley’s numbers. Built on a rich history of NASA rocket science, aerospace innovation, and defense engineering, the Rocket City has become a fertile crescent for an evolving science and defense mission in the U.S.

Exponential Population GrowthAlso known as “The Star of Alabama”, Huntsville is the Yellowhammer State’s fastest-growing city. Huntsville population expected to grow roughly 8.12% between 2019-2024.

Dense Retail CorridorThis site is located at the epicenter of Huntsville’s retail corridor with nationally recognized brands such as Walmart, Kroger, Super Target, Five Below, IHOP, Buffalo Wild Wings, Ross, Stein Mart and many morePad to 665,000+ Sq Foot Power CenterWestside Centre is a 665,000 sq foot power center anchored by major retail drivers such as Super Target, Stein Mart & Ross.

Long-Term TenancyMost of the tenants have been at this site for at least a decade or have committed 10 years of lease-term to the property. This is indicative of how well these businesses are performing due to the strong economic synergy that exists in the area.

Diverse Tenant MixFirehouse Subs, Jewelry Repair Center, Sports Clips, Summit Nails and Zoe’s Kitchen are tenants that have not only committed to the site for at least a decade but are also all internet resistant, which adds an additional layer of security to this investment.

MidCity District DevelopmentThe subject property is less than a mile from MidCity District Development, recently cited as one of the 12 largest commercial real estate projects in the nation. Once completed, the development will include 350,000 sq ft of retail, dining and entertainment space, approximately 400,000 square feet of high-tech office space, 1,400 residential units and approximately 650 hotel rooms.

INVESTMENT HIGHLIGHTS



RENT SCHEDULE

LEASE COMMENCEMENT

7/11/2003

1/10/2011

8/22/2011

3/26/2004

6/11/2012

LEASE EXPIRATION

6/30/2024

2/28/2021

12/31/2021

8/31/2024

11/30/2022

TENANT

Firehouse Subs

Jewelry Repair Center

Sports Clips

Summit Nails

Zoës Kitchen

LEASE TYPE

Triple-Net (NNN)

Triple-Net (NNN)

Triple-Net (NNN)

Triple-Net (NNN)

Triple-Net (NNN)

ANNUAL RENT

$45,240

$27,053

$32,400

$68,954

$67,320

OPTIONS

None

None

One (1), 5-Year

One (1), 5-Year

Four (4), 5-Year

GLA

2,000 SF

1,500 SF

1,600 SF

3,043 SF

3,400 SF



developments – less than a mile away from subject property

MidCity District DevelopmentRecently cited as one of the 12 largest commercial real estate projects in the nation, MidCity District is a nationally acclaimed mixed-use district located in the heart of Huntsville, AL & less than a mile away from the subject property. Private investment at MidCity District is estimated to exceed $850 Million over the next 5 years.

Built on land formerly occupied by a regional mall, MidCity District was planned through careful research into how people congregate, what communities look for in a place, and how venues, buildings, parks and public spaces can be used in varied ways. Fitness and recreation, public gathering areas, walkable streets, inspired architecture, vibrant neighborhoods and intimate spaces form MidCity.

The OfferingMidCity District offers a balanced mix of uses connected by urban plazas and walkable streets, adjacent to a 40-acre public park that integrates a functional lake system, an 8,500-seat regional outdoor public amphitheater, Topgolf, multi-purpose lawns, and an outdoor climbing area. A one-mile biking and running trail will encircle the lake and recreational area. The trail will also connect to the City’s Master Greenway Plan, the University of Alabama in Huntsville’s campus expansion, and the trail system in Cummings Research Park.

Once complete, the development will include 350,000 sq. ft. of retail, dining, and entertainment space; approximately 400,000 square feet of high-tech office space; 1,400 residential units; and approximately 650 hotel rooms. Building on the reputation of the City, it will create a new destination designed to be a social and economic focal point for the diverse and dynamic community, as well as a tool for recruitment and retainment of the younger workforce.



Park of the FutureCummings Research Park is redesigning itself for the future to become something that is beyond a research park. The Chamber of Commerce of Huntsville/Madison County and officials with the City of Huntsville began a new 50-year master plan for CRP. They are ensuring that the park is the premier place to locate and expand, the place where your employees want to work, where your friends and family want to explore and enjoy. The master plan builds on the existing characteristics of CRP in its form, structure and land use. This master plan will ensure unlimited development potential over the next decades.

The plan includes an overhaul of the park’s image as well as incorporating new and additional outdoor amenities to further connect the park with way-finding signs, greenways, bicycle and pedestrian pathways, and pocket parks. In addition, the park will be supported by programming and services such as food truck fests, tech talks and lecture series’, musical events, tours, and more connected and collaborative activities.

Cummings Research Park

Cummings Research Park The subject property is 0.25 miles from Cummings Research Park West and 1 mile from Cummings Research Park East areas within the Cummings Research Park, the second largest research park in the country and the fourth largest in the world. It is one of the world’s leading science and technology business parks, with a mixture of Fortune 500 companies, local and international high-tech enterprises. The mixed-use project was originally established as a nearby place to offer services to employees inside the Park but soon became a booming regional retail destination.

Their mission is to create a mix of high-tech companies of all sizes amongst highly-competitive educational institutions with mixed-use developments for their companies, employees and students to live, work, learn, and play. With nearly 300 companies, 27,000 employees and 11,500 students, the Cummings Research Park is a collaborative and connected ecosystem. This research park is a powerful component to the long-term viability of the Westside Centre and all the surrounding retailers.

Intuitive Center Landmark

Cummings Research Park



Cummings Research Park Master Plan



RETAIL AERIAL



westside centre site plan



SITE PLAN



ABOUT THE BRAND

Firehouse Subs

Celebrating 25 years of business in 2019, Firehouse Subs® is a fast-casual restaurant chain with a passion for Hearty and Flavorful Food, Heartfelt Service and Public Safety. Founded in 1994 by brothers and former firefighters Chris Sorensen and Robin Sorensen, Firehouse Subs is a brand built on decades of fire and police service, hot subs, steamed and piled high with the highest quality meats and cheeses and its commitment to saving lives through the establishment of the non-profit Firehouse Subs Public Safety Foundation®.

Firehouse Subs is consistently recognized as one of the leading brands in the U.S. among consumers. Newsweek recently named Firehouse Subs No. 1 in the fast-casual restaurant industry on its 2019 list of America’s Best Customer Service Brands. In 2018, Firehouse Subs was named the No. 1 brand in the restaurant industry that “Supports Local Community Activities” and ranks No. 1 among Fast Casual brands in “Food Quality” and “Taste and Flavor” in Technomic’s Consumer Brand Metrics rankings. Firehouse Subs was also named No. 2 in “America’s Favorite Fast Casual Chain” rankings by Technomic Ignite.

Zoës Kitchen

Zoës Kitchen is a fast-casual Mediterranean restaurant chain headquartered in Plano, Texas, United States. Zoës Kitchen has grown to include more than 250 restaurants and thousands of team members across the country. Serving a menu of variety of chicken salad, pasta salad, pitas and grilled chicken sandwiches, the chain has grown across 17 states with plans to expand further.

Established in 1995, serving fresh and delicious food will always be at the heart of Zoës Kitchen. But Zoës Kitchen is also about serving people. Whether it’s enabling a family to relax and catch up over a satisfying meal or maintaining a work environment that nourishes each individual’s happiness and success, Zoës Kitchen is no stranger to the people business. Zoës Kitchen recently lauched a delivery service with DoorDash allowing guest to order Zoës Kitchen website or via its mobile app.



1. U.S. Space and Rocket Center 1 Tranquility Base, Huntsville, AL 35805

5 MILES FROM SUBJECT PROPERTY

2. NASA Space Flight CenterMarshall Space Flight Ctr, Huntsville, AL 35811


3. Huntsville Botanical Garden4747 Bob Wallace Ave SW, Huntsville, AL 35805


4. U.S. Veterans Memorial Museum2060 Airport Rd SW, Huntsville, AL 35801


5. Huntsville Museum of Art300 Church St SW, Huntsville, AL 35801


6. University of Alabama in Huntsville301 Sparkman Dr NW, Huntsville, AL 35899


LOCATION OVERVIEW



LOCATION OVERVIEW

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U.S. Space and Rocket CenterThis Space & Rocket Center is a museum showcasing rockets, achievements, and artifacts of the U.S. space program.

U.S. Veterans Memorial MuseumMilitary museum displaying memorabilia, weapons & vehicles from the American Revolution to present.

NASA Space Flight CenterThis center provides exhibits and historic artifacts to demonstrate the critical role in supporting NASA’s exploration.

Huntsville Museum of ArtThe Museum seeks to foster understanding of the visual arts and appreciation of artistic achievement.

Huntsville Botanical GardenThe 112 acres of botanical gardens is fifth on the list of Alabama’s top paid tourist attractions.

University of Alabama - HuntsvilleThis University has over 6,000+ students enrolled with over 505 acres of campus land.



The City of Huntsville is committed to diversifying its economy through a purposeful effort to target industries that have long-term potential, while also ensuring that its current high-tech industry base can remain vibrant. Since 2008, Mayor Battle has made it a priority to recruit advanced manufacturing jobs. This effort has resulted in the successful recruitment of Remington Outdoor Company, Polaris Industries, GE Aviation, and multiple expansions from Toyota. Mayor Battle has also looked at ways to build upon the city’s knowledge-based economy by introducing initiatives in Geospatial, Energy, Cyber, and Biotech.

Additionally, Huntsville is home to Cummings Research Park (CRP), the second largest research park in the country and the fourth largest in the world. It is one of the world’s leading science and technology business parks, with a mixture of Fortune 500 companies, local and international high-tech enterprises, U.S. space and defense agencies, thriving business incubators and competitive higher-education institutions. CRP is the home of nearly 300 companies, almost 27,000 employees and 11,500 students.

LOCATION OVERVIEW

Huntsville, ALBefore and during the Civil War, Huntsville was a center for railroad and river-based trade and commerce. From humble beginnings, Huntsville has grown into a future-minded place to live, work, play and to visit! Huntsville is a city centrally located in the northernmost part of the U.S. state of Alabama. Located in Madison County, Huntsville extends west into neighboring Limestone County. Huntsville is the county seat of Madison County, and the fourth-largest city in Alabama.

Huntsville’s tourist attractions reflect the heritage of Alabama’s first English-speaking city, the strife of the American Civil War and the accomplishments of America’s rocket scientists. Huntsville, nicknamed “The Rocket City” for its close history with U.S. space missions, has been important in developing space technology since the 1950s. As the second-largest metropolitan area in Alabama, Huntsville, greater Madison County and its surrounding communities are a testament to the Southern traditions of hospitality, curiosity and fun. From the down-home comfort to the history and high-tech bustle of Huntsville, there’s never a dull moment in the quickly developing region.

Cummins Research Park

Huntsville, AL



Economic GrowthHuntsville is home to Cummings Research Park, the 2nd Largest research park in the U.S. and the private innovation hub of North Alabama. Currently hosts 300 companies that have produced 826 patents with 26,000 total employees, and covers 3,843 acres with ample room for continued growth.

Site AccessibilityMultiple Ingress/Egress Access Points at Signalized Intersection that allows for easy access to the property.

University Of Alabama in Close ProximityHome of The University of Alabama in Huntsville, a tier-1 research university. Works in partnership with CRP companies to train students for the research and engineering workforce pipeline.

LOCATION HIGHLIGHTS

Excellent Site-Level VisibilityStrategically positioned on the heavily trafficked University Dr NW.

Exceptional Daily Traffic CountAverage Daily Traffic exceeds 62,615 vehicles per day.

Strategically LocatedThis property sits in a dense retail shopping area with highly desirable tenants such as Target, Stein Mart, Ross and Fairfield Hotel, which significantly increases traffic to the property.

University of Alabama



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

40,836

38,773

33,709

5.32%

15.02%

3-Mile

17,602

16,670

14,326

5.59%

16.36%

$78,831

$56,481

1-Mile

5,342

4,941

3,519

8.12%

40.41%

1-Mile

2,862

2,647

1,894

8.12%

39.76%

$72,793

$52,116

5-Mile

121,768

116,387

105,693

4.62%

10.12%

5-Mile

50,113

47,795

43,055

4.85%

11.01%

$77,128

$54,621

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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. & Brian Brockman (“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 representations, 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

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FOR INQUIRIES

PLEASE CONTACT

Brian BrockmanBroker of Record

(513) [email protected] RE Lic #: 119315Bang RealtyCincinnati, OHCORP. Lic #: 119750

RICHARD BREHAUTVice President

(424) [email protected] RE Lic. 01934760

TONY ANDERSONVice President

(424) [email protected] RE Lic. 01936642

Documents

ZOËS KITCHEN STRIP CENTER JAMES CAPITAL ADVISORS, INC.€¦ · Jewelry Repair Center. Sports Clips Summit Nails. Zoës Kitchen LEASE TYPE. Triple-Net (NNN) Triple-Net (NNN) Triple-Net