Site Selection Manual

Transcription

BAUM RE ALT Y GROUP, LLC | 1030 W. CHICAGO AVENUE | CHICAGO, IL 60642 | W W W.BAUMRE ALT Y.COM
COPYRIGHT © 2014 BAUM RE ALT Y GROUP, LLC. ALL RIGHTS RESERVED.
Table of Contents
01.
Introduction Letter
02. Summary of Brokerage Services
03.
BRG Local Broker System
04. Site Selection Criteria
05.
Franchisee Site Approval Form
06. Sample Site Acceptance Package
THESE MATERIALS ARE FOR USE AS AN E X AMPLE ONLY.
SOME INFORMATION HAS BEEN FABRICATED TO ILLUSTR ATE POTENTIAL MARK E T SCENARIOS.
Dear Franchisee,
On Behalf of Baum Realty Group (BRG), we look forward to working with you to find the right
location for your Arooga’s Grill House and Sports Bar (Arooga’s).
The first half of this manual is designed to introduce you to our company and to explain how we
will be working together. We have also provided an outline of the criteria that we will use to
identify potential sites for you along with a site approval form that you will use once we have found
a suitable location. Please note that we will provide you with most of the information you will need
to complete the acceptance form.
The second half of this manual is a sample Site Acceptance Package (SAP). The SAP is a tool that
has been specifically designed to provide you the franchisee and the support team at Arooga’s with
all the information needed to make the decision to select and accept a site. The BRG team will
prepare this information for you as we work together. The decisions that will be made during the
site selection and lease negotiation process are all based on in-depth research into the key success
factors for Arooga’s combined with the knowledge gained through our work with dozens of
national retailers. This SAP is a summary of how the site under consideration measures up to the
criteria that have been established for Arooga’s.
Many of BRG’s clients have found that their Site Selection Manual and in particular the SAP have
been very helpful in their efforts to secure financing for their new business. Several lenders have
commented that understanding the in-depth site selection process that BRG undertakes on behalf of
the franchisee along with the sophisticated information that is provided in the SAP enable the
lender to be more comfortable underwriting a franchisee’s loan. We would encourage you to share
this Site Selection Manual with your prospective lenders.
We would like to provide you with an introduction to some commercial leasing concepts that will
be important to understand throughout the site selection process. Most commercial lease rates are
quoted on a per square foot basis (psf). Rental rates are quoted in either Triple Net Rates (NNN) or
Gross Rates (gross). Most commercial leases are Triple Net leases, but it is important for you to
understand the concept of both types of leases.
A triple net lease is one in which the Landlord passes through to the tenants the costs of real estate
taxes, property insurance, and common area maintenance (CAM). These costs are collective
referred to as “the net charges.” The net charges are calculated based on the amount of square feet
that you lease as a percentage of the total number of rentable square feet in the center. A common
size for a location is 7,500 SF. A triple net lease rate would be quoted as a net rent of $25 psf
NNN plus net charges of $6 psf. To calculate your monthly rent amount you multiply the number
of leased square feet by the net rent plus the net charges and divide it by 12.
(Ex: 7,500 SF x ($25 +$6) psf = $232,500 annual rent / 12 months = $19,375 monthly rent)
A gross lease is one in which the landlord includes in the rental rate the costs of real estate taxes,
property insurance, and common area maintenance (CAM). A gross lease rate would be quoted as
one number per square foot ($31 gross). To calculate your monthly rent amount you multiply the
number of leased square feet by the gross rent and divide it by 12.
(Ex: 7,500 SF x $31 psf = $232,500 annual rent / 12 months = $19,375 monthly rent)
1030 W. Chicago Avenue ‫ ׀‬Suite 200 ‫ ׀‬Chicago, IL ‫ ׀‬60642 ‫ ׀‬P: 312 666 3000 ‫ ׀‬F: 312 666 7970 ‫ ׀‬www.baumrealty.com
As your brokerage team, it is our role to be your real estate expert and advisor. We invite you to
review this manual and talk with us about any questions you may have regarding its contents or the
process that we will be undertaking together. We are always available to answer any of your
questions.
We look forward to working with you.
Sincerely,
Baum Realty Group, LLC
Phil Baugh
phil@baumrealty.com
312-275-3102
1030 W. Chicago Avenue ‫ ׀‬Suite 200 ‫ ׀‬Chicago, IL ‫ ׀‬60642 ‫ ׀‬P: 312 666 3000 ‫ ׀‬F: 312 666 7970 ‫ ׀‬www.baumrealty.com
SUMMARY OF BROKER AGE SERVICES
baum realty group retail brokerage services
As your retail
brokerage firm
Baum Realty Group
can help
you grow
Baum Realty Group (BRG) is one of the country’s leading retail brokerage firms.
BRG has secured thousands of sites for national retailers such as Advance Auto Parts,
Starbucks Coffee, Panera Bread, FedEx Office, Häagen-Dazs, Chipotle Mexican Grill, and
many others. Due to our advanced capabilities and excellent customer service, BRG has
been retained by Arooga’s to manage the real estate component of their franchised national
expansion. We have developed an intricate system that drives the success of our national
brokerage accounts and have represented our clients in hundreds of markets across the
country. On behalf of Arooga’s, we will work to support you throughout the real estate and
site selection process!
market
knowledge
and trends
As the preferred real estate brokerage firm for Arooga’s, BRG will provide you with:
• Local retail experts who have extensive market knowledge and will help you find the right
location and negotiate excellent deal terms
• Answers to all of your real estate questions and guidance so that you are comfortable with
the site selection process
industry
contacts
• Demographic information for of your territory and a discussion about any relevant market
trends and new developments
• Our extensive market knowledge and industry contacts
• A recommendation of top potential sites in your territory
• We will provide you with a detailed site approval package to include:
coaching
and support
· Market maps
· Digital photos of the top site
· Site plan of top site
· Demographic reports for top site
· Aerial photographs of the market
detailed
site approval
packages
We will prepare a comprehensive Letter of Intent for you and will negotiate on your behalf
with landlords and secure the best possible deal terms.
Overall, we will be an expert resource for you throughout the entire site selection and deal
negotiation process.
For questions related to real estate or the site selection process, please contact:
Phil Baugh
Principal, Baum Realty Group
312.275.3102
phil@baumrealty.com
deal
negotiation
tenant representation
our current & past clients
Ace Hardware
Advance Auto Parts
Aladdin’s Eatery
Allen Edmonds
America’s Best
American Apparel
Andy’s Frozen Custard
Anthropologie
Arooga’s
Arthur Murray Dance Studios
Aurelio’s Pizza
Baker Furniture
Beef O’Brady’s
Blake
Blaze Pizza
Blue Sushi
Boston Market
Bruegger’s Bagels
Burger Hut
Burgerville
Caribou Coffee
Carluccio’s
Carquest
Carter’s
Cartridge World
Champps / Fox & Hound
Checkers
Children of America
Chipotle Mexican Grill
Chop’t
CiCi’s Pizza
Citibank
Clix
Del Frisco’s Grille
Denny’s
Diet Center
Doctors Express
Dotty’s
DryHop Brewery
Dunkin’ Donuts
Duxiana
Eileen Fisher
Elephant Bar Restaurant
Fantastic Sams
Farrell’s Extreme Bodyshaping
Fatburger
FedEx Office
Firestone
Fitness 19
Five Guys Burgers & Fries
COPYRIGHT © 2014 BAUM REALTY GROUP, LLC. ALL RIGHTS RESERVED.
WWW.BAUMREALTY.COM
Foss Swim School
Fuego Loco Restaurant
Gold’s Gym
Great Clips
Great Steaks
Häagen-Dazs Shops
Halsted Street Deli
Hand & Stone
Harbor Freight Tools
Henry Beguilin
Hershey’s Chocolate
Hill Country Barbecue Market
Hilti
HomeMade Pizza Co.
I Dream of Falafel
Insomnia Cookies
iTAN Solariums
Jared The Galleria Of Jewelry
Jiffy Lube
Jimmy John’s
Johnny Rocket’s
Jose Eber
Juice Blendz
Justice
Kay Jewelers
Kidville
Kriser’s
La Madia
LifeSource
Lladró
Lush
Marlowe
Material Possessions
Mixed Greens
Morton’s Restaurant Group
Mosaica Education
MyMenu
Nanette Lepore
Naples Tomato
Nationwide Insurance
New Era Cap Co.
Newk’s Eatery
OfficeMax
Olive Mediterranean Grill
Omaha Steaks
OshKosh B’gosh
Pagoda Red
Panchero’s Mexican Grill
Panera Bread
Papa John’s Pizza
Performance Bike
Pet Stuff
Phenix Salon Suites
Piada
Pita Pit
Pizza Fusion
Plank Seafood & Provisions
PLS Loan Store
Pockets
Pollo Campero
Pompei
Porche Design Store
Potbelly Sandwich Shop
Primrose Schools
Pro Martial Arts
Quaker Steak & Lube
Quicksilver
Salad Creations
Salon 1800
Sarku Japan
Sbarro
Scoop NYC
Snippet’s Mini Cuts
Speedway
Starbucks
Starfruit
Subway
Taco Fresco
Tasti D-Lite
Teavana
Texas Corral
The Cellular Connection
The Gardner School
The Little Salad Shop
Tide Dry Cleaners
Tricoci University
True Value
Underground Printing
Uno Pizzeria & Grill
Urban Outfitters
US Bank
Verizon Wireless
Verlo
W Grocer / Sky Grocer
Wingstop
Yankee Candle
Yo Blendz
YO! Sushi
Yogurtland
BAUM REALT Y GROUP LOCAL BROKER SYSTEM
local broker system
In order to provide each franchise with in-depth local market knowledge, BRG utilizes its network of top retail brokers
across the country. BRG is actively involved in every step of the Arooga’s real estate process. As your local broker is
working with you to select the best site, BRG is in constant communication with them, supervising their efforts. Once
you have picked your top site, BRG will guide the local broker on negotiations with the landlord for the best deal
terms according to BRG and Arooga’s protocol. BRG reviews every aspect of the negotiation process for all Arooga’s
franchisees across the country.
Site Specifications
Building Size:
5,000- 8,000 (7,000 ideal) plus outdoor patio area
Building Type: 1st generation space; 2nd generation restaurant space; ground-up/build to suit
Minimum
Width:
50 ft
Site Type:
End caps or free standing sites, highly visible from major roadways
Parking:
Minimum 125 spaces
Signage:
Building signage and Pylon or Monument signage
Traffic Flow:
30,000+ cars per day, convenient for lunch and dinner customers
Access:
Easy ingress and egress, traffic light intersections preferred
Ventilation:
Black iron required
Market Characteristics
Target Locations
Regional retail markets that have a strong combination of daytime white collar employment, strong national
retailers, and dense middle to upper income neighborhoods. Established markets with continued growth
potential are preferred.
Major university markets with retail trade areas that are close to campus and convenient to university students,
staff, and visitors.
Target Demographics
•
•
•
•
Population: 30,000+ within 3 miles
Daytime Employment: 10,000+ within 3 miles
Education Levels: Density of Bachelor’s Degree; percentage of white & blue collar customers
Median Household Income: $45K+
Co-tenants & Demand Generators
Examples of desirable co-tenants and demand generators are the following:
•
•
•
•
•
Hospitals
Universities
Office Parks
Regional Malls/Movie Theatres
Upscale National Retailers
•
•
•
•
•
Upscale Grocers
Barnes and Noble / Borders
Target, Walmart
Home Depot, Lowe’s
Other High End QSR’s (Chipotle)
Franchisee Name
Date
Information about the Proposed Location
Address of the Location
Position of the location relative to the street
Street front
Set back
End cap space or free standing space
End cap
Free Standing
Is the location new construction or an existing space
New
Existing
What are the dimensions of the space
Width
Length
Yes
No
Total square feet of leaseable space
When do you expect the space to be turned over to you
Will the space be delivered in Arooga's Vanilla Box condition
If space will not be delivered in vanilla box condition, describe the
work that needs to be done and an estimate of time and cost
What is your projected opening date
Information about the Lease Term & Rent Package
How long is the initial term of the lease
Are there option terms, if so how many and for how long
(years)
Number of options
Years per option
What is the rent commencement date
What is the monthly base rent for the first year
($$)
What are the monthly net charges for the first year
($$)
What is your total monthly rent for the first year
($$)
Does the rent escalate, if so by how much and when
Site Accessibility
How would you rate the customer access to the site
Good
Average
Poor
How would you rate the availability of parking for the site
Good
Average
Poor
How many parking spaces are there for the site
Are there any unique factors that restrict access to the site
Page 2
Franchisee Name
Site Visibility & Traffic
How would you rate the visibility of the site
Good
Average
Poor
How would you rate the traffic that drives by the site
Good
Average
Poor
Good
Average
Poor
Good
Average
Poor
How many daytime employees are there surrounding the site
1 Mile
3 Miles
5 Miles
What is the residential population surrounding the site
1 Mile
3 Miles
5 Miles
What is the median household income surrounding the site
1 Mile
3 Miles
5 Miles
What is the traffic count in front of the site
How would you rate the customer traffic within the center
Co-Tenants, Appeal to Target Consumer, Competition
Who are the co-tenants in the center
How would you rate the appeal of the site to Arooga's customers
Who are the competitors in the market
and what is their distance to this site
Demographics & Neighborhood -
How would you describe the neighborhood around the site
I have undertaken a thorough evaluation of this location and I believe this to be a suitable location
for an Arooga's Grill House and Sports Bar.
Franchisee Signature
Date
Site Acceptance Package
BAUM RE ALT Y GROUP, LLC | 1030 W. CHICAGO AVENUE | CHICAGO, IL 60642 | W W W.BAUMRE ALT Y.COM
Executive Site Summary
City & State:
Crofton, MD
Site Location:
Rt 3 & Waugh Chapel Rd
Shopping Center Name: Village at Waugh Chapel
Date:
Prepared By:
DEMOGRAPHICS
DEMOGRAPHICS
RADIUS RINGS
Population
Median HH Income
Average HH Income
No. of Households
Median Age of Population
Daytime Work Population
6/27/2014
Baum Realty Group
LEASE INFORMATION
1 mile
8,665
$100,792
$108,835
3,312
3 mile
49,001
$109,676
$112,900
18,707
5 mile
89,892
$111,115
$117,017
33,826
34.1
1,301
36.7
12,302
37.6
27,550
Traffic Counts:
Size (SF)
7,500 sf
Base Rent
Net Charges
Total Annual Gross Rent
$25/sf
$6/sf
$232,500/yr ($19,375/month)
Availability Date
Term
Options
Rent Increases
Other
Immediate
One (1) ten (10) year term
Two (2) five (5) year options
10% every five years
$25/sf TI, space delivered in
Vanilla Box condition
• Rt 3: 58,392 CPD
TRADE AREA SUMMARY
The Village at Waugh Chapel is a 380,000 sf shopping center located in the center of Crofton, MD, for which the entire surrounding population trades
both north and south based on the tenant mix. The center was built and changed the dynamic of the Crofton market, and now has evolved into a
vibrant, dense, and up-scale area, with strong market positioning. The first phase of this project included national anchor tenants like Safeway,
Marshall’s, Pier 1, HomeGoods, and most recently LA Fitness. In addition, the center includes over 50 other retailers increasing the goods and
services driving people to this market. The southern portion of this center will provide the addition of Target, Wegman’s, Dicks’s, BBB, and a new
Regal Cinema, which will drive this trade area to expand in size to bring more and more people to this shopping center.
This trade area is based around one major retail artery known as Route 3 (also US 301 and Crain Highway). This road runs through Crofton and
functions as the primary north-south transportation link between I-97 to the north, carrying traffic between Annapolis and Baltimore, and US Rt. 50 to
the south, carrying traffic between Annapolis and Washington DC.
VISIBILITY AND ACCESS
The center has multiple access points directly off of Route 3. The proposed space would be mostly accessed by the centers major point in front of
CFA. As you drive down the drive aisle, Arooga’s would be directly south with visibility to this position.The southern portion of this center which is
currently delivering is connected by an interior roadway connecting the 2 centers. The proposed location is located directly on this connecting road.
PARKING AND SIGNAGE
The center does not have Pylon signage. We will be able to have building signage above the space. In addition, we will be pursuing an outdoor area
that we are going to create out of an existing landscaped area. We will utilize umbrella’s and/or awnings to further sign the proposed space. The field
of parking in front of the proposed Arooga’s location is shared amongst 6 existing retailers and 2 banks, which is very attractive for our use. All
together, it includes over 14 duel-side rows of parking going from the front of the store to just in front of Route 301. Additionally, the majority of our cotenants in this portion of the center drive traffic during dinner hours primarily which further improves the value in front of our space.
MAJOR DEMAND GENERATORS
The retail of this trade area is its major demand generator. Additionally, this center is located six miles from Fort Meade, a 15 minute drive from
Annapolis, 25 miles from Baltimore, and 30 miles from Washington, DC. Crofton was named one of three Maryland towns on Money Magazine's 100
Best Places to Live in America list for 2011. The Crofton community is expected to further grow, both residentially and with 10,000 new jobs projected
by 2013, due to the BRAC (Base Re-Alignment and Closure) initiative.
MARKET SALES INFORMATION
Homegoods - $8.2 M
Marshalls - $9.5 M
Safeway (estimate) - $35-38 M
Dress Barn - $1.3 M
Spa - $12 M
Pier 1 - $2M
Chick Fil A - $3.2 M
Chipotle - $3 M
Arby's - $1.6 M
Burger King - $1.9 M
Panera - Opened 4 months ago; sales starte $70K/week and have
settled at high $50's/low $60's. Avg MD unit does $3M annually
HOSPITALS/UNIVERSITIES IN TRADE AREA
HOSPITAL
# of BEDS EMPLOYEES DISTANCE
Crownsville Hospital Center
264
650 4.1 mi E
Anne Arundel Medical Center
317
1500 8.2 mi SE
UNIVERSITY
# of STUDENTS
DISTANCE
Baum Realty Group
1030 W. Chicago Ave.
Chicago, IL 60642
312.666.3000
www.baumrealty.com
N
Anne Arundel County, MD
LEGEND
895
695
Target Trade Area
Edgemere
Edgemere
1. Glen Burnie: Route 2 & Ordinance Rd.
2. Pasadena: Route 2 & Route 100
3. Pasadena/Quarterfield: I-97 & Donaldson Ave.
1
"
7
North Laurel
Laurel
North
6. Waugh Chapel: Route 3 & Waugh Chapel Rd.
7. Hanover/Arundel Mill: 7000 Arundel Mills Cir.
3 Mile Ring
Site Selection Area
3
"
"
Competitors
2
Rock Hall
Hall
Rock
Competitor 1
Competitor 2
Competitor 3
Lake Shore
Shore
Lake
"
Competitor 4
Fort Meade
Meade
Fort
97
5. Annapolis: Route 2 & West St.
20
Severn
Severn
POTENTIAL SITE
29
4. Severna Park: Benfield Rd. & Route 2
Glen
Glen Burnie
Burnie
4
Synergistic Retailers
Retailer 1
Retailer 2
1
Demand Generators
6
197
Generator 1
Generator 2
301
"
50
495
Bowie
Bowie
5
"
Parole
Parole
Stevensville
Stevensville
50
50
Riva
Riva
Gras
Gras
95
Woodmore
Woodmore
T h is m a p w a s p ro d u c e d u s i n g d a t a f ro m pri v ate and gov er nment sourc es deemed rel i abl e. T h e i n f o r m a ti o n h e re i n i s p ro v i d e d w i th ou t re p re s e n ta ti o n o r w a rra n ty. C o p y ri g h t © 2 0 1 4 B a u m R e a l ty G ro u p , L L C . A ll r ig ht s res er ved .
Potential Site Log
Territory: Anne Arundel County, M D
Site Location, Intersection,
#
or Street Address
City
Name of Center
SF
Available
Net
Base
Monthly Availability
Charges
Rent PSF
Rent
Date
PSF
Co-Tenants
Comments
Rank
1
Rt 3 & Waugh Chapel
Rd
Gambrills
Waugh Chapel
7,500
$25.00
$6.00
$19,375
Immediate
Pier 1, Applebees,
Homegoods/Marshalls,
Safeway
Center located off highway. Lots of
parking. Easy access and great visibility.
Large area for patio.
A
2
2002 Annapolis Mall
Annapolis
Annapolis Mall
7,325
$25.00
$9.00
$20,754
Immediate
Chick Fil-A, and other
national retailers
Potential Backup, very busy parking lot
due to mall location, great accessibility but
not great co-tenancy in immediate area
A
3
Forest Dr & Riva Rd
Annapolis
Fesitval at Riva
8,500
$31.00
$6.90
$26,846 12/15/2013
TJMaxx, Panera, Chili's,
Buffalo Wild Wings
Co-tenancy strong, visible, accessibility
challenging into center
B
4
7000 Arundel Mills Cir
Hanover
Arundel Mills Mall
5,800
$29.00
$11.00
$19,333
1/1/2014
Target, Chick Fil-A, local
retailers
Small; average co-tenacy and average
visibility, signage and access.
B
5
I-97 & Aviation Blvd
Glen Burnie
Anne Arundel
Corporate Park
6,788
$29.00
$7.20
$20,477
Immediate
Dunkin Donuts, other non
national retailers
Poor Visibility and difficult access; no
signage available
C
Aerial View
FORT
MEADE
ODENTON
SHOPPING CENTER
WAUGH CHAPEL
MAIN STREET AT
WAUGH CHAPEL
5 Miles
3 Miles
SITE
VILLAGE SOUTH AT
WAUGH CHAPEL
FUTURE
HOPKINS PLACE
SHOPPING CENTER
CROFTON
SHOPPING CENTER
CROFTON CENTRE
FREE STATE MALL
PRIEST RIDGE
SHOPPING CENTER
BOWIE MARKETPLACE
The Village at Waugh Chapel has excellent visibility along MD
Route 3 South. It is next to the future development Village South at
Waugh Chapel. Anchored by Wegmans, Regal Cinemas, Target and
Dick’s Sporting Goods, Village South will present major opportunities
within this growing market of Anne Arundel County.
CORRIDOR
AERIAL
LOCATOR
MAP
BALTIMORE
COLUMBIA
ANNAPOLIS
WASHINGTON D.C.
Potential Site
MAIN STREET AT
WAUGH CHAPEL
SHOPPING CENTER KEY
Grocery Anchored
Power Center/
Mass Merchant
Regional Mall
Goods & Services
Lifestyle Center
Lee Engle . 240.479.7207
lengle@streetsense.com
Nick Page . 410.218.2427
npage@streetsense.com
www.streetsense.com
CLOSE IN
AERIAL
VILLAGE AT WAUGH CHAPEL
97
W
AU
VILLAGE SOUTH AT
WAUGH CHAPEL
G
H
C
H
AP
EL
RD
3
MAIN STREET AT
WAUGH CHAPEL
C
RA
IN
H
W
Y
Rt 3: 58,392 CPD
Potential Site
Lee Engle . 240.479.7207
lengle@streetsense.com
Nick Page . 410.218.2427
npage@streetsense.com
www.streetsense.com
The Village at Waugh Chapel
Gambrills, MD
n Ideally positioned at the intersection of
MD3/301 and Waugh Chapel Road, minutes
from I-97 in Anne Arundel County
n A15 minute drive from Annapolis, 25
minutes from Baltimore and 30 minutes
from Washington, D.C.
Site Plan
n A 71 acre mixed-use project that combines
425,000 sq. ft. of retail space, 400 marketrate senior living units, fast food ouparcels,
an office building and a restaurant park
n The Village’s backdrop includes exemplary
architecture, lush landscaping, town squares,
two lakes with fountains and a waterfall,
parks and promenades
n 95,000 people within a 5 mile radius with
a $105,000 approximate average household
income
n More than 65,000 vehicles drive Rt. 3/301,
19,000 on Waugh Chapel Road
For leasing information:
www.ggcommercial.com/projects
or call 410-559-2500
aerial view
Potential Site
Potential Site
Lake
Chipotle
Lake
Panera Bread
Traffic Count: 58,392 CPD
Center Entrance
Photos of Potential Site
Outside Patio Area with
side door for access
Park field looking towards site
Park field looking away from site
Center and co-tenants
Applebees
FULL PROFILE
2000-2010 Census, 2013 Estimates with 2018 Projections
Calculated using Proportional Block Groups
Lat/Lon: 39.0392/-76.6752
RF1
1 mi radius
3 mi radius
5 mi radius
INCOME
2013 Estimated Population
2018 Projected Population
2010 Census Population
2000 Census Population
Projected Annual Growth 2013 to 2018
Historical Annual Growth 2000 to 2013
8,665
9,206
8,378
4,822
1.2%
6.1%
49,001
52,046
47,388
38,552
1.2%
2.1%
89,892
95,122
87,203
71,638
1.2%
2.0%
2013 Estimated Households
3,312
18,707
2018 Projected Households
2010 Census Households
2000 Census Households
Projected Annual Growth 2013 to 2018
Historical Annual Growth 2000 to 2013
3,537
3,181
1,769
1.4%
6.7%
19,978
17,970
14,079
1.4%
2.5%
33,826
36,044
2013 Est. Population Under 10 Years
2013 Est. Population 10 to 19 Years
2013 Est. Population 75 Years or Over
2013 Est. Median Age
15.5%
12.4%
13.6%
26.7%
19.8%
9.4%
2.7%
34.1
14.2%
13.0%
11.6%
23.5%
21.0%
12.5%
4.2%
36.7
13.4%
13.0%
12.1%
22.3%
21.7%
13.2%
4.4%
37.6
2013 Est. Male Population
2013 Est. Female Population
48.4%
51.6%
48.2%
51.8%
48.5%
51.5%
2013 Est. Never Married
2013 Est. Now Married
2013 Est. Separated or Divorced
2013 Est. Widowed
31.4%
51.6%
14.0%
2.9%
28.0%
54.2%
14.1%
3.7%
28.2%
54.5%
13.4%
3.8%
11.6%
16.4%
20.8%
13.4%
22.9%
10.5%
1.4%
1.4%
1.6%
$108,835
$100,792
$41,602
13.8%
16.1%
23.4%
13.5%
15.3%
9.2%
2.6%
3.9%
2.2%
$112,900
$109,676
$43,127
15.0%
15.9%
23.4%
13.6%
14.6%
8.7%
3.3%
3.2%
2.3%
$117,017
$111,115
$44,237
108
1,301
1,180
12,302
2,828
27,550
2013 Est. HH Income $200,000 or More
2013 Est. HH Income $150,000 to $199,999
2013 Est. HH Income $100,000 to $149,999
2013 Est. HH Income $75,000 to $99,999
2013 Est. HH Income $50,000 to $74,999
2013 Est. HH Income $35,000 to $49,999
2013 Est. HH Income $25,000 to $34,999
2013 Est. HH Income $15,000 to $24,999
2013 Est. HH Income Under $15,000
2013 Est. Average Household Income
2013 Est. Median Household Income
2013 Est. Per Capita Income
2013 Est. Total Businesses
2013 Est. Total Employees
©2014, Sites USA, Chandler, Arizona, 480-491-1112
page 1 of 3
32,532
25,652
1.3%
2.5%
This report was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty.
MARITAL STATUS
& GENDER
AGE
HOUSEHOLDS
POPULATION
Crofton, MD
Demographic Source: Applied Geographic Solutions 11/2013, TIGER Geography
FULL PROFILE
Lat/Lon: 39.0392/-76.6752
RF1
1 mi radius
3 mi radius
5 mi radius
77.8%
74.3%
2013 Est. Black
2013 Est. Asian or Pacific Islander
2013 Est. American Indian or Alaska Native
2013 Est. Other Races
14.9%
7.5%
0.2%
7.0%
12.2%
5.0%
0.3%
4.7%
16.0%
4.6%
0.3%
4.8%
2013 Est. Hispanic Population
2013 Est. Hispanic Population
643
7.4%
2,577
5.3%
2018 Proj. Hispanic Population
2010 Hispanic Population
7.9%
6.8%
5.6%
4.8%
4,882
5.4%
5.8%
5.0%
2013 Est. Adult Population (25 Years or Over)
2013 Est. Elementary (Grade Level 0 to 8)
2013 Est. Some High School (Grade Level 9 to 11)
2013 Est. High School Graduate
2013 Est. Some College
2013 Est. Associate Degree Only
2013 Est. Bachelor Degree Only
2013 Est. Graduate Degree
5,779
3.2%
2.5%
15.7%
23.4%
9.0%
27.5%
18.6%
32,978
1.4%
3.4%
20.2%
22.3%
7.6%
26.9%
18.2%
60,530
1.6%
3.9%
20.4%
21.2%
7.4%
26.8%
18.8%
HOUSING
2013 Est. Total Housing Units
2013 Est. Owner-Occupied
2013 Est. Renter-Occupied
2013 Est. Vacant Housing
3,388
75.8%
22.0%
2.2%
19,080
76.7%
21.3%
2.0%
34,585
77.3%
20.5%
2.2%
2010 Homes Built 2005 or later
2010 Homes Built 2000 to 2004
2010 Homes Built Before 1949
9.6%
6.6%
23.6%
22.2%
13.4%
15.7%
6.0%
4.1%
5.5%
12.4%
25.1%
11.4%
21.5%
10.4%
6.0%
6.6%
6.9%
12.8%
24.2%
12.5%
17.5%
12.8%
6.3%
7.1%
2010 Home Value $1,000,000 or More
2010 Home Value $500,000 to $999,999
2010 Home Value $400,000 to $499,999
2010 Home Value $300,000 to $399,999
2010 Home Value $200,000 to $299,999
2010 Home Value $150,000 to $199,999
2010 Home Value $100,000 to $149,999
2010 Home Value $50,000 to $99,999
2010 Home Value $25,000 to $49,999
2010 Home Value Under $25,000
2.0%
16.2%
12.5%
29.2%
31.1%
4.5%
2.0%
1.3%
0.5%
0.6%
2.1%
20.4%
13.6%
26.1%
27.2%
5.5%
2.2%
1.3%
0.7%
1.0%
2.3%
21.1%
13.1%
26.4%
$336,998
$1,375
$360,971
$1,331
$365,263
$1,323
HISPANIC
EDUCATION
(Adults 25 or Older)
HOME VALUES
2010 Median Home Value
2010 Median Rent
page 2 of 3
70.4%
RACE
2013 Est. White
HOMES BUILT BY YEAR
Crofton, MD
25.6%
5.5%
2.3%
1.5%
1.0%
1.2%
FULL PROFILE
Lat/Lon: 39.0392/-76.6752
RF1
1 mi radius
3 mi radius
5 mi radius
37,593
67.6%
3.1%
3.2%
26.0%
47.8%
52.2%
69,137
66.5%
2010 Occupation: Population Age 16 Years or Over
2010 Mgmt, Business, & Financial Operations
2010 Professional, Related
2010 Service
2010 Sales, Office
2010 Farming, Fishing, Forestry
2010 Construction, Extraction, Maintenance
2010 Production, Transport, Material Moving
2010 White Collar Workers
2010 Blue Collar Workers
4,843
21.2%
26.4%
15.7%
25.2%
6.8%
4.5%
72.9%
27.1%
25,225
22.2%
29.0%
12.6%
25.6%
0.1%
6.2%
4.3%
76.7%
23.3%
46,350
23.1%
29.0%
12.9%
24.0%
0.1%
6.4%
4.5%
2010 Drive to Work Alone
2010 Drive to Work in Carpool
2010 Travel to Work by Public Transportation
2010 Drive to Work on Motorcycle
2010 Walk or Bicycle to Work
2010 Other Means
2010 Work at Home
78.0%
11.7%
3.6%
2.8%
4.0%
80.3%
8.4%
5.0%
0.1%
1.4%
0.1%
4.8%
78.4%
8.7%
6.2%
2010 Travel to Work in 14 Minutes or Less
2010 Travel to Work in 15 to 29 Minutes
2010 Travel to Work in 30 to 59 Minutes
2010 Travel to Work in 60 Minutes or More
2010 Average Travel Time to Work
11.1%
39.5%
36.4%
13.0%
28.5
13.4%
37.2%
35.0%
14.4%
28.6
15.4%
35.8%
34.4%
14.4%
28.0
2013 Est. Total Household Expenditure
2013 Est. Apparel
2013 Est. Contributions, Gifts
2013 Est. Education, Reading
2013 Est. Entertainment
2013 Est. Food, Beverages, Tobacco
2013 Est. Furnishings, Equipment
2013 Est. Health Care, Insurance
2013 Est. Household Operations, Shelter, Utilities
2013 Est. Miscellaneous Expenses
$249 M
$12.1 M
$18.9 M
$8.05 M
$14.2 M
$37.4 M
$11.5 M
$16.6 M
$74.6 M
$3.92 M
$1.44 B
$70.0 M
$111 M
$47.5 M
$82.0 M
$215 M
$67.0 M
$96.0 M
$432 M
$22.6 M
$2.67 B
$130 M
$207 M
$88.4 M
$152 M
$398 M
$124 M
$178 M
$802 M
$41.8 M
2013 Est. Personal Care
2013 Est. Transportation
$3.54 M
$47.9 M
$20.4 M
$274 M
$37.8 M
$507 M
TRAVEL TIME
CONSUMER EXPENDITURE
page 3 of 3
3.1%
3.2%
27.3%
47.9%
52.1%
76.2%
23.8%
0.2%
1.4%
0.1%
4.9%
LABOR FORCE
6,615
73.7%
2.1%
3.3%
21.0%
47.8%
52.2%
TRANSPORTATION
TO WORK
2013 Est. Labor Population Age 16 Years or Over
2013 Est. Civilian Employed
2013 Est. Civilian Unemployed
2013 Est. in Armed Forces
2013 Est. not in Labor Force
2013 Labor Force Males
2013 Labor Force Females
OCCUPATION
Crofton, MD
October 30, 2013
John Smith
Brian Properties
1234 Main Street
Arlington Heights, IL 60001
RE:
Lease Proposal
Waugh Chapel – Crofton, MD
Dear John:
On behalf of our client, George Washington, Baum Realty Group, LLC is pleased to present the following
proposal, which establishes the basic terms and conditions for a lease at the above referenced location. The
basic terms and conditions are as follows:
Premises:
Approximately 7,500 rentable square feet of ground floor retail space at Waugh
Chapel in Gambrills, MD. The dimensions of the Premises are shown on the
attached floor plan provided by the Landlord. Tenant shall have the right to remeasure the premises and should it be less than 7,500 square feet then the size of
the premises in the lease shall be reduced appropriately.
Landlord may not alter the Common Areas (including the parking lot) in a manner
that interferes with Tenant’s use, visibility of the premises, or the access of
Tenant’s customers to the Premises.
Landlord:
Please Provide
Tenant:
George Washington
(Herein after “Tenant”)
Use:
Tenant shall be permitted to use the Premises for the operation of a full service
restaurant and bar which shall offer a wide range of food and alcohol for both on-site
and off-premise consumption.
Term:
One (1) ten (10) year term
Options:
Two (2) five (5) year options, subject to 120 days notice
Net Base Rent:
$__________ per square foot per year one (1), being $_______ per month.
Rent
Escalations:
Real Estate Taxes,
CAM and Insurance:
The net rent shall increase by ten percent (10%) every five (5) years, including the
option periods if exercised.
Tenant will pay its pro rata share of the Real Estate Taxes, Common Area
Maintenance, and Insurance (“Net Charges”). Tenant’s pro rata share shall be
calculated by dividing the square footage of Tenant’s Premises by the total gross
rentable square footage of the (Pick one:) shopping center / property. All taxes
and expenses shall not exceed $_____ per square foot in the first year of the lease
term. Tenant will pay the estimates and there will be a year-end adjustment based
on the actual costs. Net Charges (exclusive of real estate taxes and insurance) will
not increase by more than four (4%) non-cumulative per year.
Utilities:
Merchant Association
Or Marketing Funds:
Possession Date:
Rent
Commencement:
Landlord shall provide to the Leased Premises in sufficient capacity all utilities
including electric, gas, water and sewer. Such utilities shall be separately metered
at Landlord’s expense. Landlord to provide all meter numbers to Tenant and
unrestricted access to all meter locations upon request of Tenant. Tenant shall be
responsible for the direct payment of their actual utility consumption throughout
the Lease term.
Landlord agrees to waive any dues or fees payable to a Merchant Association.
Participation and membership would be at the option of the Tenant.
Tenant shall take possession of Premises the later of 1) completion of Landlord’s
work or 2) Tenant’s receipt of all necessary permits. Landlord to provide 30 days
written notice to Tenant prior to completion of Landlord Work.
Tenant’s obligation to pay Base Rent, CAM, Taxes and insurance shall commence
180 days following Tenant’s Possession of Premises.
Security Deposit:
None
Landlord Delays:
All dates herein shall be subject to and adjusted accordingly as a result of any
Landlord Delays, which shall include (i) Landlord providing Tenant with
incomplete base building plans and specifications (ii) Landlord’s late completion
of the Landlord’s Work, (iii) Landlord providing Tenant with late consent where
Landlord’s consent is required, and (iv) any other acts or omissions of Landlord or
its agents, contractors or employees which delay Tenant’s construction of any
improvements in the Premises and/or Tenant’s opening for business from the
Premises
Permits:
Tenant will apply for and diligently pursue each permit at its expense. Landlord
shall cooperate with Tenant in attempting to obtain such permits and shall execute
any necessary applications.
Parking & Cross
Easement:
Tenant shall be given a right for cross easement for ingress/egress and parking
over the entire shopping center property. Landlord may not place or allow to be
placed any temporary or permanent structures the would reduce the amount of
parking within the Primary Parking Field and Landlord may not designate any of
the parking spaces within the Primary Parking Field to any other tenant without
Tenant’s written authorization. In all future leases executed with tenants in the
building in which Tenant is located, Landlord will require that all employees of
future tenants park outside of the Primary Parking Field.
At no extra cost, the Tenant shall be provided five (5) dedicated parking spaces
directly in front of the premises for grab and go customers and Tenant may install
signage designating the spaces as such.
Patio Seating Area:
At no extra cost, the Tenant shall be permitted exclusive use of the outside area in
front of the Premises for a patio seating area, exact dimensions to be agreed upon
prior to Lease execution.
Tenant Improvement
Allowance:
Landlord will provide to the Tenant a construction allowance of $______ per
square foot of leased space to be paid within 30 days of the completion of
construction and the receipt of lien waivers.
Landlord’s Work:
Space shall be delivered in “Vanilla Box” condition as described in the attached
work letter at Landlord’s cost and per Tenant specifications.
Electronic Plans:
Prior to lease execution, Landlord shall provide Tenant with to-scale, electronic
architectural drawings of the demised premises preferably in AutoCAD format.
Municipal &
Impact Fees:
Condition of Premises
And Property:
Hazardous Materials:
Repairs And
Maintenance:
Landlord shall be solely responsible at its cost to pay for all
federal/state/county/city impact fees including, sewer connection fees, traffic
mitigation fee, highway fee, parking fee. Tenant will only pay for his/her own
Building, Plan Check, and Health Department Fees to construct its applicable
Tenant improvements.
The structural integrity elements, roof, fire prevention and alarm systems,
electrical, plumbing, HVAC and all other building systems of the Premises shall
be in sound condition, and meet all applicable federal, state, and local codes
including but not limited to ADA compliance requirements during the initial lease
term and option periods if exercised. Landlord shall disclose any known
conditions that would adversely affect store design, construction and use as
contemplated by this letter.
Landlord is responsible for the removal of any and all hazardous materials and
substances, including but not limited to asbestos and asbestos containing materials
prior to Tenant’s Possession.
Landlord shall perform the repairs or make any necessary replacements to the roof
and structural portions of the Premises, and to repair, maintain, service, and light
the common areas.
Landlord shall perform all maintenance and repairs to building systems and
improvements made by Landlord to the interior of Leased Premises.
HVAC:
Continuing
Co-tenancy:
Tenant shall be responsible for contracting with a licensed HVAC contractor to
perform annual preventative maintenance. Landlord shall be responsible for the
repair and/or replacement if the HVAC if needed.
If ________ or ________ceases to conduct it’s typical business in the shopping
center, Tenant’s only obligation with respect to rent shall be the payment of one
half of the rent (including net charges) until such vacancy is filled with a tenant of
equal quality and size. In the event such vacancy is not filled within (12) months
Tenant shall have the right to terminate the Lease.
Exclusive:
Landlord shall not sell space, lease space, or allow the sublease of space within the
shopping center or on its property to any person or entity for a retail food business
that is any type of sports bar, excluding present tenants or their assignees so long as
to the extent that the Landlord has the right to approve a change of use for an
existing tenant or its assignees that Landlord will not approve a change to a use that
will violate the exclusive language above.
Prohibited Uses:
Landlord shall not lease or allow use of any premises in the Shopping Center for
any immoral, illegal, unethical or noxious uses (to be further defined in the Lease),
specifically including, without limitation, any use which emits odors or noises
which may disturb Tenant’s use or operation of the Premises including but not
limited to nail salons, tenants that house live animals, or tenants that manufacture
animal food or treats on premise.
Signage:
Assignment
And Sublease:
Tenant, at its cost, shall be permitted to install or place signs (including window
posters) in or about the premises. Tenant will be allocated signage space within
pylon or monument signage for the shopping center. Tenant shall be responsible to
ensure all signage complies with municipal codes. Landlord shall at its sole cost
and expense, prepare and/or paint the exterior of the Building and Premises in
preparation for Tenant’s signage (including without limitation patching and
repairing of holes left by any prior tenant’s signage). Landlord hereby approves
the use of Tenant’s standard interior and exterior signage package, awnings, and
logo subject to the approval of any government authority. Landlord further agrees
to permit the Tenant to use promotional banners on the exterior of the premises
provided Tenant agrees to obtain any permits and complies with the rules and
regulations as set by the Landlord for the use of promotional banners.
Tenant has the right to assign and sublease with the consent of the Landlord, such
consent not to be unreasonably or arbitrarily withheld. To be later defined in the
Lease.
Hours of Operation:
Tenant shall have the right to determine its hours of operation. Tenant shall be
permitted to remain open and operate its business during the maximum hours
permitted by law seven (7) days a week.
Relocation:
Landlord shall have no right to relocate Tenant.
Radius Restriction:
None
Garbage & Recycling:
Landlord to provide adequate space within the development for tenant to place
garbage and recycling dumpsters as required by code or to meet the needs of its
operations
.
SNDA:
If there is currently a ground lease, mortgage or deed of trust on the Development,
Tenant will require a Subordination Non Disturbance Agreement (“SNDA”) from
the ground lessor or lender. Tenant’s obligations to subordinate to any future lien
holder should be conditional upon Tenant’s receipt of a commercially reasonable
SNDA from such future lien holder, Landlord shall deliver a fully executed SNDA
on or before the Rental Commencement Date, or such date shall be postponed on a
per diem basis until obtained.
Contingencies:
The lease shall be contingent upon Tenant obtaining necessary permits for the
construction of a Tenant store and operation of its business. Tenant will apply for
and diligently pursue each permit at its expense. Landlord shall cooperate with
Tenant in attempting to obtain such permits and shall execute any necessary
applications.
Lease Form:
Landlord’s Lease form will be used.
Franchisor
Lease Rider:
Upon execution of this proposal, the Franchisor Lease Rider will be provided to
Landlord for review. The lease rider shall be incorporated as an exhibit to the
lease.
Agency Disclosure:
Landlord acknowledges that Baum Realty Group is acting on behalf of the Tenant
of the real estate and that any information given to Baum Realty Group by
Landlord will be disclosed to the Tenant.
Commission:
Landlord agrees to pay Baum Realty Group a brokerage commission per a separate
commission agreement.
This Proposal shall not be binding upon the parties, and is being offered for consideration for ten business
days from the date of this letter. A binding agreement shall not exist until a lease has been executed and
delivered by both parties. Neither party may claim any legal rights against the other by reason of activities
taken in reliance upon this non-binding Proposal, including, without limitation, any partial performance of the
transactions contemplated herein. Neither party owes the other party any duty to negotiate a formal
agreement, and either party may cease discussion at any time.
We appreciate your time and consideration in this matter.
Sincerely,
BAUM REALTY GROUP, LLC
Phil Baugh
Attachments:
Exhibit A – Site Plan & Primary Parking Field
Exhibit B – Signage & Logo Examples
Exhibit C – Franchisor Lease Addendum
AGREED & ACCEPTED for TENANT:
AGREED & ACCEPTED for LANDLORD:
By: _____________________
By: _____________________
Its: _____________________
Its: _____________________
Date: ___________________
Date: ____________________

Site Selection Manual

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