single tenant restaurant hometown buffet - Los Angeles

SINGLE TENANT RESTAURANT
HOMETOWN BUFFET
L
Laagguunnaa W
Wooooddss,, C
Caalliiffoorrnniiaa
2244338811 EEll TToorroo R
Rdd..,, LLaagguunnaa W
Wooooddss,, C
CA
A 9922663377
88%
%C
CA
APP R
Raattee
11..1133 A
Accrreess
O
u
t
P
Out Paarrcceell PPaadd // PPaarrtt ooff LLaarrggee SShhooppppiinngg C
Ceenntteerr
PPrroom
miinneenntt SSttrreeeett FFrroonnttaaggee // C
Coonnvveenniieenntt IInnggrreessss aanndd EEggrreessss
For further information please contact:
For further information please contact:
TTaanneell H
K
Haarruunnzzaaddee
Keevviinn BByyeerr
Managing Director
Associate
Investment Services Group
Investment Services Group
Tel: 310.996.2217
Tel: 310.492.8414
Fax: 310.312.1801
Fax: 310.312.1801
tharunzade@charlesdunn.com
kbyer@charlesdunn.com
CHARLES
DUNN COMPANY INC., 10100 Santa Monica Blvd., Suite 400, Los
Angeles, California 90024
Ph: (310) 312-1800
Fax: (310) 312-1801
www.charlesdunn.com
The foregoing is based upon information provided by others which we believe is accurate, however, no guarantee, warranty or
representation is made. We recommend that all interested parties independently verify its accuracy and completeness. As well,
CHARLES
DUNN
COMPANY,
INC.,
Monica
Boulevard,
Suite 400,
Los Angeles,
CA 90067
any projections,
assumptions,
opinions,
or estimates
are 10100
used forSanta
example
only and
do not represent
the current
or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful independent investigation of the property and its suitability for your Phone:
needs, including
land use limitations.
The 312-1800
property is subject
to prior lease,
(310) 312-1800
Fax: (310)
www.charlesdunn.com
sale, change in price, or withdrawal from the market without notice.
: Set Up
/24381 El Toro Rd.[12.5.08-ll]
]
HOMETOWN BUFFET
ORANGE COUNTY OVERVIEW
LAGUNA WOODS, CA
Orange County represents approximately 8.1% of California’s population with a current population of
approximately 2,979,487. The county’s population is expected to reach approximately 3,184,317 by 2008
for an average growth rate of 1.3% annually.
Orange County is served by a large freeway network, which provides convenient access to the four
neighboring counties of San Diego, Riverside, San Bernardino and Los Angeles. The major airport
serving Orange County is the John Wayne Orange County Airport, located between Newport Beach,
Irvine and Costa Mesa. The airport is serviced by most of the nation’s major commercial carriers and is
served by a 300,000 square foot terminal. Direct flights are available to the West Coast and all major
destinations throughout the United States. The John Wayne Orange County Airport also provides private,
corporate flights and cargo shipments. Plans to expand the airport are currently being structured.
The Orange County Transit District (OCTD) provides municipal bus service. Passenger rail service is
provided by Amtrak and the county has several freight rail lines. Deep water ports and an international
airport are nearby via the freeway network, in neighboring Los Angeles County. The county has access to
all major modes of transportation, which is a very positive factor in the county’s real estate.
Several existing freeways are being expanded and upgraded, including the 5, 55, and 405 Freeways.
Widening and interchanging upgrades are underway on these freeways, and have been completed on the
57 and 91 Freeways.
CITY OF LAGUNA WOODS OVERVIEW
The City of Laguna Woods was incorporated in March 1999 and encompasses approximately 2,100 acres
of land. Four residential retirement communities house approximately 18,500 residents of the City of
Laguna Woods: Leisure World, Renaissance at the Regency, Alterra Wynwood at Palm Terrace, and The
Fountains.
The City of Laguna Woods is located in south Orange County between the San Joaquin Foothills and the
Santa Ana Mountains. The City is bordered on the north, east, and southeast by the City of Laguna Hills,
on the northwest by the City of Irvine, on the west by unincorporated Orange County and the City of
Laguna Beach, and on the south by the City of Aliso Viejo.
For further information please contact:
Tanel Harunzade
Managing Director
Investment Services Group
Tel: 310.996.2217
Fax: 310.312.1801
tharunzade@charlesdunn.com
Kevin Byer
Associate
Investment Services Group
Tel: 310.492.8414
Fax: 310.312.1801
kbyer@charlesdunn.com
CHARLES DUNN COMPANY INC., 10100 Santa Monica Blvd., Suite 400, Los Angeles, California 90024
Ph: (310) 312-1800
Fax: (310) 312-1801
www.charlesdunn.com
The foregoing is based upon information provided by others which we believe is accurate, however, no guarantee, warranty or
representation is made. We recommend that all interested parties independently verify its accuracy and completeness. As well,
any projections, assumptions, opinions, or estimates are used for example only and do not represent the current or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful independent investigation of the property and its suitability for your needs, including land use limitations. The property is subject to prior lease,
sale, change in price, or withdrawal from the market without notice.
: Set Up
/24381 El Toro Rd.[12.5.08-ll]
]
HOMETOWN BUFFET
LAGUNA WOODS, CA
EXECUTIVE SUMMARY
FINANCIAL
Price
$3,700,000
Cap Rate
8.0%
Cost Per Foot (Improvements)
$408.61
Current Annual Rent
$295,902.75 ~ Effective January 1, 2009
Next Rent Increase Amount
$325,493.03
Property Features
Rent Commencement
Lease Expiration
Rent Increases
Next Rent Increase
December 19, 2003
December 31, 2023
10% Each Five (5) Years
January 1, 2014
Improvements and Land
Improvement Size
Parcel Size
Parcel Number
+/- 9,055 Sq. Ft.
+/- 44,094 Sq. Ft. ~ or 1.012 Acres
Tenant
Tenant
OCB Restaurant Company
(See Company Information)
NNN
Twenty (20) Years, with Four (4)
Five (5) Year Options to Extend
Lease Type
Lease Term
Abundant On-Site Parking
Standard
Handicap
Golf Cart Spaces
61
2
2
7.12 cars per 1000 Sq. Ft.
For further information please contact:
Tanel Harunzade
Managing Director
Investment Services Group
Tel: 310.996.2217
Fax: 310.312.1801
tharunzade@charlesdunn.com
Kevin Byer
Associate
Investment Services Group
Tel: 310.492.8414
Fax: 310.312.1801
kbyer@charlesdunn.com
CHARLES DUNN COMPANY INC., 10100 Santa Monica Blvd., Suite 400, Los Angeles, California 90024
Ph: (310) 312-1800
Fax: (310) 312-1801
www.charlesdunn.com
The foregoing is based upon information provided by others which we believe is accurate, however, no guarantee, warranty or
representation is made. We recommend that all interested parties independently verify its accuracy and completeness. As well,
any projections, assumptions, opinions, or estimates are used for example only and do not represent the current or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful independent investigation of the property and its suitability for your needs, including land use limitations. The property is subject to prior lease,
sale, change in price, or withdrawal from the market without notice.
: Set Up
/24381 El Toro Rd.[12.5.08-ll]
]
HOMETOWN BUFFET
EXECUTIVE SUMMARY, continued:
LAGUNA WOODS, CA
FINANCING
For further information please contact:
Tanel Harunzade
Managing Director
Investment Services Group
Tel: 310.996.2217
Fax: 310.312.1801
tharunzade@charlesdunn.com
Kevin Byer
Associate
Investment Services Group
Tel: 310.492.8414
Fax: 310.312.1801
kbyer@charlesdunn.com
CHARLES DUNN COMPANY INC., 10100 Santa Monica Blvd., Suite 400, Los Angeles, California 90024
Ph: (310) 312-1800
Fax: (310) 312-1801
www.charlesdunn.com
The foregoing is based upon information provided by others which we believe is accurate, however, no guarantee, warranty or
representation is made. We recommend that all interested parties independently verify its accuracy and completeness. As well,
any projections, assumptions, opinions, or estimates are used for example only and do not represent the current or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful independent investigation of the property and its suitability for your needs, including land use limitations. The property is subject to prior lease,
sale, change in price, or withdrawal from the market without notice.
: Set Up
/24381 El Toro Rd.[12.5.08-ll]
]
HOMETOWN BUFFET
LAGUNA WOODS, CA
AERIAL MAPS
For further information please contact:
Tanel Harunzade
Managing Director
Investment Services Group
Tel: 310.996.2217
Fax: 310.312.1801
tharunzade@charlesdunn.com
Kevin Byer
Associate
Investment Services Group
Tel: 310.492.8414
Fax: 310.312.1801
kbyer@charlesdunn.com
CHARLES DUNN COMPANY INC., 10100 Santa Monica Blvd., Suite 400, Los Angeles, California 90024
Ph: (310) 312-1800
Fax: (310) 312-1801
www.charlesdunn.com
The foregoing is based upon information provided by others which we believe is accurate, however, no guarantee, warranty or
representation is made. We recommend that all interested parties independently verify its accuracy and completeness. As well,
any projections, assumptions, opinions, or estimates are used for example only and do not represent the current or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful independent investigation of the property and its suitability for your needs, including land use limitations. The property is subject to prior lease,
sale, change in price, or withdrawal from the market without notice.
: Set Up
/24381 El Toro Rd.[12.5.08-ll]
]
HOMETOWN BUFFET
LAGUNA WOODS, CA
PLAT MAP
For further information please contact:
Tanel Harunzade
Managing Director
Investment Services Group
Tel: 310.996.2217
Fax: 310.312.1801
tharunzade@charlesdunn.com
Kevin Byer
Associate
Investment Services Group
Tel: 310.492.8414
Fax: 310.312.1801
kbyer@charlesdunn.com
CHARLES DUNN COMPANY INC., 10100 Santa Monica Blvd., Suite 400, Los Angeles, California 90024
Ph: (310) 312-1800
Fax: (310) 312-1801
www.charlesdunn.com
The foregoing is based upon information provided by others which we believe is accurate, however, no guarantee, warranty or
representation is made. We recommend that all interested parties independently verify its accuracy and completeness. As well,
any projections, assumptions, opinions, or estimates are used for example only and do not represent the current or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful independent investigation of the property and its suitability for your needs, including land use limitations. The property is subject to prior lease,
sale, change in price, or withdrawal from the market without notice.
: Set Up
/24381 El Toro Rd.[12.5.08-ll]
]
HOMETOWN BUFFET
LAGUNA WOODS, CA
HOMETOWN BUFFET
HISTORY
Hometown Buffet was started by two partners in 1983. The company went public in 1985 under the name
of Old Country Buffets (OCB). In 1989 the partners split and one of the partners went on to found Home
Town Buffets. In 1996 Buffets Inc. bought Home Town and the partners reunited.
In 1992 the company began a string of acquisitions including Country Road House Buffet, Tahoe Joe’s
Steakhouse and Granny’s Buffet. In 2000 the company was taken private, backed by private equity firm
CI Capital Partners. In 2006 Buffets Holdings acquired Ryan’s Restaurant Group making it the largest
buffet style operator in the U.S.
Buffets Holdings has over 550 locations in almost 40 states. In addition to it’s company owned locations
they also have nearly 20 franchised restaurants.
Impacted by slower consumer spending, Buffets Holdings filed for Chapter 11 Bankruptcy on
January 22, 2008. CI Capital Partners owns nearly 80% of the company.
For further information please contact:
Tanel Harunzade
Managing Director
Investment Services Group
Tel: 310.996.2217
Fax: 310.312.1801
tharunzade@charlesdunn.com
Kevin Byer
Associate
Investment Services Group
Tel: 310.492.8414
Fax: 310.312.1801
kbyer@charlesdunn.com
CHARLES DUNN COMPANY INC., 10100 Santa Monica Blvd., Suite 400, Los Angeles, California 90024
Ph: (310) 312-1800
Fax: (310) 312-1801
www.charlesdunn.com
The foregoing is based upon information provided by others which we believe is accurate, however, no guarantee, warranty or
representation is made. We recommend that all interested parties independently verify its accuracy and completeness. As well,
any projections, assumptions, opinions, or estimates are used for example only and do not represent the current or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful independent investigation of the property and its suitability for your needs, including land use limitations. The property is subject to prior lease,
sale, change in price, or withdrawal from the market without notice.
: Set Up
/24381 El Toro Rd.[12.5.08-ll]
]
HOMETOWN BUFFET
LAGUNA WOODS, CA
AREA MAP
For further information please contact:
Tanel Harunzade
Managing Director
Investment Services Group
Tel: 310.996.2217
Fax: 310.312.1801
tharunzade@charlesdunn.com
Kevin Byer
Associate
Investment Services Group
Tel: 310.492.8414
Fax: 310.312.1801
kbyer@charlesdunn.com
CHARLES DUNN COMPANY INC., 10100 Santa Monica Blvd., Suite 400, Los Angeles, California 90024
Ph: (310) 312-1800
Fax: (310) 312-1801
www.charlesdunn.com
The foregoing is based upon information provided by others which we believe is accurate, however, no guarantee, warranty or
representation is made. We recommend that all interested parties independently verify its accuracy and completeness. As well,
any projections, assumptions, opinions, or estimates are used for example only and do not represent the current or future performance of the identified property. Your tax, financial, legal and toxic substance advisors should conduct a careful independent investigation of the property and its suitability for your needs, including land use limitations. The property is subject to prior lease,
sale, change in price, or withdrawal from the market without notice.
: Set Up
/24381 El Toro Rd.[12.5.08-ll]
]