Arby`s - Marketing Package

Transcription

Arby’s
Confidential Offering Memorandum
3535 East Baseline Road, gilbert, az
Exclusively Listed By:
Mark J. Ruble Jamie A. Medress Chris N. Lind
www.MarcusMillichap.com
602-687-6766
mruble@marcusmillichap.com
www.NetLeasedGroup.com
602-687-6778
jmedress@marcusmillichap.com
602-687-6780
clind1@marcusmillichap.com
strength.
Agility.
Results.
Executive Summary
4
Pricing & Financial Analysis
5
Property Description
6
demographics
Offering Memorandum
18
Jamie A. Medress
602.687.6778
Mark J. Ruble
602.687.6766
Chris n. Lind
602.687.6780
TABLE OF CONTENTS
Arby’s
Strength.
Agility.
Results.
Offering Memorandum
The information contained in the following marketing brochure is proprietary and strictly confidential.
It is intended to be reviewed only by the party receiving it from marcus & Millichap and should not be made
available to any other person or entity without the written consent of marcus & Millichap. This marketing
brochure has been prepared to provide summary, unverified information to prospective purchasers, and to
establish only a preliminary level of interest in the subject property. The information contained herein is
not a substitute for a thorough due diligence investigation.
Marcus & Millichap has not made any
investigation, and makes no warranty or representation, with respect to the income or expenses for the
subject property, the future projected financial performance of the property, the size and square footage of
the property and improvements, the presence or absence of contaminating substances, pcb’s or asbestos, the
compliance with state and federal regulations, the physical condition of the improvements thereon, or the
financial condition or business prospects of any tenant, or an y tenant’s plans or intention to continue its
occupancy of the subject property.
The information contained in this marketing brochure has been
obtained from sources we believe to be reliable; however, marcus & Millichap has not verified, and will not
verify, any of the information contained herein, nor has marcus & Millichap conducted any investigation
regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or
completeness of the information provided. All potential buyers must take appropriate measure to verify all
of the information set forth herein.
All property showings are by appointment only. Please consult your Marcus & Millichap
Agent for more details.
Confidentiality Agreement
Arby’s
strength.
agility.
Results.
Offering Memorandum
Executive summary
PROPERTY ADDRESS:
YEAR BUILT:
APPROXIMATE SIZE:
SITE AREA:
PRICE:
CAP RATE:
TENANT:
LEASE GUARANTOR:
LEASE TYPE:
3535 East Baseline Road, Gilbert, AZ
1999
3,280 Square Feet
45,302 Square Feet
$2,279,400
6.86% (7.37% CAP in 2014)
Corporate
RTM Acquisition Company, LLC
Absolute Triple-Net (NNN) Lease
LEASE COMMENCEMENT DATE:
December 20, 1999
LEASE EXPIRATION DATE:
December 19, 2019
RENEWAL OPTIONS:
Two (2), Five (5) Year Renewal Options
RENTAL INCREASES:
7.4% on 12/20/2014
7.9% in 1st Option
8.4% in 2nd Option
ANNUAL BASE RENT:
$156,434.24
executive summary Arby’s
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as the accuracy of the information. References to square footage or age are approximate.
Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2008 Marcus & Millichap
4
strength.
agility.
Results.
Financial summary
Price
Down Payment
Rentable Square Feet
Cap Rate
Net Cash Flow
Year Built
Lot Size
Annualized operating
$2,279,400
Tenant
Lease Guarantor
Original Lease Term
Annual Rent
CAP Rate
1-5
$137,700.00
-
6-10
$146,413.60
-
11-15
$156,434.24
6.86%
16-20
$167,957.98
7.37%
Option Year
Annual Rent
CAP Rate
21-25
$181,210.28
7.95%
26-30
$196,450.43
8.62%
3,280
6.86% (7.37% in 2014)
6.86% $156,434.24
1999
45,302 Square Feet
Absolute Triple-Net (NNN) Lease
Base Rent
$156,434.24
Net Operating Income (NOI)
$156,434.24
Corporate
RTM Acquisition Company, LLC
Total Return
6.86% $156,434.24
20 Years
Lease Commencement Date
December 20, 1999
Lease Expiration Date
December 19, 2019
Effective Lease Term Remaining
data
Lease Year
100% $2,279,400
Lease summary
Lease Type
Offering Memorandum
6.5 Years
Renewal Options
2, 5 Year Renewal Options
Rental increases
7.4% on 12/20/2014
7.9% in 1st Option
8.4% in 2nd Option
Pricing & Financial Analysis Arby’s
5
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Offering Memorandum
Investment Overview
Investment Highlights
Arby’s is located at 3535 E. Baseline Road in Gilbert, Arizona. The subject is an
approximate 3,280-square foot, single-tenant retail building on approximately 45,302
square feet of land. The property is leased to RTM Acquisition Company, LLC on an
absolute triple-net (NNN) lease basis with 6.5 years remaining on the lease term and
2, 5 year renewal options. The rent increases on December 20, 2014, raising the CAP
rate to 7.4%. Arby’s currently operates over 3,400 stores in the US and Canada.

Absolute Triple-Net (NNN) Corporate Lease

Rent Increases in 2014– The rent increases on December 20, 2014, raising the
CAP rate to 7.4%.

Trophy Location in Prime Retail Corridor– Ideally positioned at a prime retail
destination in the East Valley, the property shares a corner with a Circle K, IHOP,
Big O Tires, KinderCare and Nando’s Mexican Café and is directly across the street
from Dana Park Village Square, a 600,000 square foot urban lifestyle center on 70
acres of land.

Infill Location One Half Mile South of US 60 Freeway– The property also benefits
from it’s location just one half mile south of the US 60 Freeway with over 254,000
vehicles per day.

Within the Immediate Vicinity of Val Vista Lakes Master Planned Community Val Vista Lakes is a 900-acre master planned community consisting of twenty-four
residential subdivisions, four spacious sports parks, bicycle paths and a luxurious
clubhouse.

Strong Trade Area with Over 319,000 People in a Five Mile Radius
The property is situated near the southwest corner of Baseline Road and Val Vista Drive
with frontage along Baseline Road. Ideally positioned at a prime retail destination in the
East Valley, the property shares a corner with a Circle K, IHOP, Big O Tires, KinderCare
and Nando’s Mexican Café and is directly across the street from Dana Park Village
Square, a 600,000 square foot urban lifestyle center on 70 acres of land. Dana Park
Village Square hosts over 65 tenants including Chico’s, Victoria Secret, Coldwater
Creek, White House/Black Market, Ann Taylor Loft, Talbot’s, Barnes & Noble, Bath &
Body Works, Paradise Bakery, California Pizza Kitchen, Z Gallerie, Buca di Beppo,
Marble Slab Creamery, AJ’s Fine Food, Pei Wei, and Baja Fresh.
Furthermore, the subject property is ideally located within the immediate vicinity of the
master planned community of Val Vista Lakes. Val Vista Lakes is a 900-acre “water
wonderland” consisting of four spacious sports parks, bicycle paths, and a luxurious
clubhouse. The community offers twenty-four residential subdivisions, several of which
are custom gated communities, offering both lakefront and off-lake homes.
The property also benefits from it’s location just one half mile south of the US 60
Freeway with over 254,000 vehicles per day. Additionally, the intersection of Val Vista
& Baseline Roads boasts traffic counts of over 67,000 vehicles per day. The dense
trade area includes over 319,000 people within a five mile radius
2011
1-Mile
3-Mile
5-Mile
Total Population:
14,132
129,398
319,755
Average Household Income:
$73,773
$67,235
$66,701
Property Description Arby’s
6
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location overview
Offering Memorandum
location Highlights
Located in the southeast valley of the Phoenix metropolitan area, Gilbert is a dynamic
community that is actively growing and diversifying its economic base, citing globalminded innovation and entrepreneurship as keys to productivity. Endowed with
supportive infrastructure, ample land and recognition as the center of a new megaregion called the “Sun Corridor”, Gilbert is committed to realizing sustainable, worldclass business environments that are unique to the community.
The community’s dense volume of educated residents boasts one of the highest
concentrations of graduate and professional degrees among competing Western U.S.
cities with 34.56% of residents holding a bachelor degree or higher; outpacing the
national median by 39%. In addition, the median income of Gilbert’s residents is one
of the highest within the state of Arizona at $84,967.
Gilbert’s current population of 215,000 has doubled every five years since 1980. With
attractive demographics, award-winning amenities, prime business incentives and high
-profile developments, Gilbert offers immediate, attainable economic opportunity for
industry-leading companies.
Strong employment opportunities, an excellent educational system, high-quality
affordable housing, one of the lowest crime rates in the nation, and a wealth of
recreational amenities are all factors in Gilbert's growth and resident satisfaction.
In 2008 Gilbert was named Money Magazine’s Best Places to Live partly due to the
community’s job growth at 39.72% from 2000 to 2007. By carefully balancing retail,
office and industrial projects, Gilbert works to create sustainable jobs, tax revenues and
resources for the community’s highly valued, highly skilled workforce.

Excellent Demographics - The median income of Gilbert’s residents is one of the
highest within the state of Arizona at $84,967. The community’s dense volume of
educated residents boasts one of the highest concentrations of graduate and
professional degrees among competing Western U.S. cities with 34.56% of
residents holding a bachelor degree or higher; outpacing the national median by
39%.

Growing Population - Gilbert’s current population of 215,000 has doubled every
five years since 1980.

Excellent Infrastructure - Strong employment opportunities, an excellent
educational system, high-quality affordable housing, one of the lowest crime rates
in the nation, and a wealth of recreational amenities are all factors in Gilbert's
growth and resident satisfaction.

“Best Places to Live” - In 2008 Gilbert was named Money Magazine’s Best
Places to Live partly due to the community’s job growth at 39.72% from 2000 to
2007.
Gilbert Top Employers
Employer
Banner Health
Mercy Gilbert Medical Center
B H D Drywall and Stucco and Painting
General Dynamics Advanced Info Systems
Go Daddy Software, Inc.
Superstition Contracting, Inc.
Dillard’s Store Services, Inc.
Dean Fence and Gate, Inc.
Presidential Pools and Spas, LLC
Skyline Steel, Inc.
# Employees
1,485
653
600
587
575
500
305
280
275
250
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Strength.
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Offering Memorandum
tenant overview
Arby’s Highlights:
Arby's is well known for slow-roasted and freshly sliced roast beef sandwiches and
famous Market Fresh sandwiches, wraps and salads, made with wholesome
ingredients and served with the convenience of a drive-thru.

1964 Arby's is founded in Boardman, Ohio.

1965 Arby's first franchise restaurant opens in Akron, Ohio.
From day one, Arby's Roast Beef Restaurants offered an innovative menu, offering
guests something other than hamburgers in the newly inspired quick service segment.
When foodservice veterans Leroy and Forrest Raffel opened the first Arby's in Boardman,
Ohio on July 23, 1964, customers enjoyed roast beef sandwiches, potato chips, and
Texas-sized iced teas. To name their new venture, the brothers decided on Arby's,
which stands for R.B., the initials of the Raffel Brothers - although many suspect the
R.B. stands for roast beef.

1970 Arby's opens its 250th restaurant.

1975 Logo changes from a ten-gallon hat to a contemporary cowboy hat.

1978 Debut of the Beef 'n Cheddar.

1980 Arby's opens 1,000th location in Loves Park, Illinois

1981 First international restaurant opens in Japan.
Leroy and Forrest never looked back. They fine tuned the operation and sold the first
franchise to Sam Feldman the following year. Today, Arby's rich heritage is comprised
of several multi-generation franchise owners. In fact, Jim Raffel, founder Leroy's son,
owns and operates three locations in Maine.

1986 Arby's Foundation formed, establishing Arby's philanthropic organization.

1991 Arby's is the first fast food restaurant to introduce a complete light menu:
On September 29, 2008, Triarc Companies Inc. merged with Wendy's International,
Inc. to form Wendy's/Arby's Group, Inc. Wendy's/Arby's Group, Inc. is the third largest
quick-service restaurant company in the United States. On July 5, 2011, Arby's was
acquired by Roark Capital Group, an Atlanta-based private equity firm that focuses on
investing in franchise, brand management and restaurant companies. Roark Capital
Group owns 81.5 percent of the company, with Wendy's Company owning the other
18.5 percent.
There are more than 3,400 Arby’s restaurants. As of December 30, 2010, there were
1,169 company-owned restaurants, 2,367 franchised and 125 international locations,
principally in Canada. There are also locations in Qatar, Turkey and the United Arab
Emirates.
Three sandwiches and four salads, all less than 300 calories and 94% fat free.

1994 Arby's is the first to ban smoking in all of its company restaurants.

1996 Arby's opens its 3,000th restaurant in Tipp City, Ohio.

2001 Market Fresh sandwiches added to the menu

2004 Market Fresh salads and wraps create a full line of deli-style products.

2005 Arby's acquires RTM, the largest franchisee

2007 Arby's launches new menu line of Toasted Subs.

2008 Triarc Companies, Inc. merged with Wendy's International, Inc. to form
Wendy's/Arby's Group, Inc.

2011 Arby's is acquired by Atlanta-based Roark Capital Group.
As of 2011 Arby's is currently using the slogan "It's Good Mood Food" with television
and radio commercials built around this theme.
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Offering Memorandum
9
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Offering Memorandum
property photos
10
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Offering Memorandum
Surrounding property photos
11
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Offering Memorandum
Surrounding property photos
12
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Offering Memorandum
Local map
13
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Offering Memorandum
Regional map
14
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Offering Memorandum
15
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Offering Memorandum
Aerial Photo
16
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Offering Memorandum
Aerial Photo
17
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Offering Memorandum
demographics
1 Miles:
3 Miles:
5 Miles:
14,292
14,132
14,680
125,851
129,398
124,295
310,442
319,755
298,644
Households
2016 Projections
2011 Estimate
Growth 2011 - 2016
2000 Census
6,431
5,569
15.48%
5,066
55,140
49,864
10.58%
44,160
131,932
119,440
10.46%
104,055
2011 Est. Households by Income
$200,000 or More
$150,000 - $199,999
$100,000 - $149,999
$75,000 - $99,999
$50,000 - $74,999
$35,000 - $49,999
$25,000 - $34,999
$15,000 - $24,999
$10,000 - $14,999
Under $9,999
3.00%
5.91%
16.31%
17.51%
20.21%
15.29%
11.54%
6.15%
1.08%
3.03%
3.02%
3.93%
13.04%
13.26%
21.84%
16.12%
12.17%
9.37%
3.38%
3.86%
2.98%
4.09%
13.25%
13.83%
21.18%
15.33%
11.55%
9.36%
4.04%
4.40%
2011 Est. Average Household Income
2011 Est. Median Household Income
2011 Est. Per Capita Income
$73,773
$62,462
$28,987
$67,235
$54,838
$26,155
$66,701
$55,108
$25,290
Population
2016 Projection
2011 Estimate
2000 Census
Current year data is for the year 2011, 5 year projected data is for the year 2016. More About Our Data. Demographic data © 2011 by Experian/Applied Geographic Solutions. Crime data © 2010 by Experian/Applied
Geographic Solutions. Traffic Count data © 2011 by DataMetrix. All rights reserved. Business List data © 2009 by D&B®. All rights reserved.
demographics
Arby’s
18
Arby’s
3535 East Baseline Road, Gilbert, AZ 85234
Exclusively Listed By:
Jamie A. Medress
Mark J. Ruble
Chris n. lind
Tel: (602) 687-6778
Fax: (602) 687-6710
Tel: (602) 687-6766
Fax: (602) 687-6710
Tel: (602) 687-6780
Fax: (602) 687-6710

Arby`s - Marketing Package

Transcription

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