CHURCH'S CHICKEN - CONFIDENTIAL OFFERING MEMORANDUM - Embree Group of Companies
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CONFIDENTIAL
OFFERING
MEMORANDUM
CHURCH’S CHICKEN
2019 CONSTRUCTION, 20-YR ABSOLUTE NNN
2015 N. Wickham Road | Melbourne, FL 32935 -1-
EXCLUSIVE
OFFERING $3,564,000 $213,816
PURCHASE ANNUAL
LISTED BY: PRICE RENT
6.00% 2.00%
CAP LEASE
RATE ESCALATIONS
JOSIAH BYRNES KLINTON LEWIS
VICE PRESIDENT ASSOCIATE-NET LEASE SERVICES
SINGLE-TENANT, NET-LEASED QUICK SERVICE
Josiah Byrnes serves as Vice President of Klinton Lewis serves as Associate of Net
Embree Capital Markets Group, Inc., where Lease Services with Embree Capital Markets
RESTAURANT
he helps guide the formation and execution Group, Inc., where he is responsible for
of diversified real estate capital structures marketing current assets, new developments,
NEW 2019 CONSTRUCTION
and investment strategies for individual, and private client’s commercial real estate
institutional, and international investors, properties. Klinton also provides investment NEW 20-YEAR LEASE TERM
developers, and tenants. advice to clients, and is focused on new
and existing client business development. 2% ANNUAL ESCALATIONS
Josiah joined Embree Group of Companies
in 2010. He received BA and MBA degrees Prior to joining the Embree Capital Markets
from the University of Colorado, as well as a Group Inc., Klinton served as a real estate
Master of Real Estate Development Degree agent specializing in single-tenant, net-lease
from Arizona State University. properties, with Marcus & Millichap in Austin,
Texas.
+1.719.243.6569 +1.512.819.4729
jbyrnes@embreegroup.com klewis@embreegroup.com
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DISCLAIMER &
CONFIDENTIALITY STATEMENT
The information contained herein is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from the Embree
Group of Companies (Embree Group) and should not be made available to any other person or entity without the written consent of the Embree Group
(the Embree Group collectively refers to Embree Capital Markets Group, Inc., Embree Asset Group, Inc., Embree Healthcare Group, Inc., and Embree
Construction Group, Inc.). This brochure has been prepared to provide summary information to prospective investors and to establish a preliminary
level of interest in establishing an investment relationship with the Embree Group, which may or may not include the sale or purchase of any specific
property referenced herein. Several Embree Group employees are licensed real estate agents and brokers in various states.
The information contained herein is not a substitute for a thorough due diligence investigation. The Embree Group has supplied information in this
brochure from sources we believe are reliable; however, all potential Buyers and Investors must take appropriate measures to investigate and verify
the income and expenses for any specific property, the future projected financial performance of any specific property, the size and square footage of
any specific property and its 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 any tenant’s
plans or intentions to continue its occupancy of any specific property.
The Embree Group reserves the right to withdraw this solicitation at any time without prior notice. The information contained herein is based upon
sources deemed to be reliable, but the accuracy of the information is not guaranteed, nor should the information contained herein be considered all
inclusive. Statements contained herein which involve matters of opinion, whether or not identified to be that only, are not representations of fact. The
price and terms of this offering may be subject to change at any time.
The Embree Group is not affiliated with, sponsered by, or endorsed by any commercial tenant or lessee identified in this marketing package. The
presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation
of the Embree Group, its affiliates or subsidiaries, or any agent, product, or commercial listing of The Embree Group, and is solely included for the
purpose of proving tenant lessee information about this listing to prospective customers.
The Embree Group has an ownership interest in the subject property.
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TABLE OF CONTENTS
Property & Lease Details
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Tenant Overview
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Site Plan
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Maps & Aerials
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Demographic Analysis
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Contact
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PROPERTY &
LEASE DETAILS RENT ROLL
SUMMARY
THE OFFERING
PROPERTY ADDRESS 2015 N Wickham Rd. Melbourne, FL 32935
LEASE ANNUAL MONTHLY CAP
TENANT Goalz Restaurant Group FLA, LLC TERM RENT RENT RATE
Year 1 $213,816 $17,818 6.00%
Goalz Restaurant Group, LLC and Year 2 $218,092 $18,174 6.12%
GUARANTOR
One High Net-Worth Individual Year 3 $222,454 $18,537 6.24%
Year 4 $226,903 $18,908 6.37%
Year 5 $231,441 $19,286 6.49%
SITE DESCRIPTION Year 6 $236,070 $19,672 6.62%
BUILDING SIZE Approximately 1,850 Rentable Square Feet Year 7 $240,791 $20,065 6.76%
Year 8 $245,607 $20,467 6.89%
LAND SIZE Approximately 0.86 Acres Year 9 $250,519 $20,876 7.03%
Year 10 $255,529 $21,294 7.17%
$21,720
INVESTMENT SUMMARY Year 11
Year 12
$260,640
$265,853 $22,154
7.31%
7.46%
PURCHASE PRICE $3,564,000 Year 13 $271,170 $22,597 7.61%
Year 14 $276,593 $23,049 7.76%
ANNUAL RENT $213,816 Year 15 $282,125 $23,510 7.92%
Year 16 $287,768 $23,980 8.07%
CAP RATE 6.00%
Year 17 $293,523 $24,460 8.24%
EST. COMMENCEMENT March 1, 2019 Year 18 $299,394 $24,949 8.40%
Year 19 $305,381 $25,448 8.57%
EST. LEASE END March 1, 2039 Year 20 $311,489 $25,957 8.74%
PRIMARY LEASE TERM 20-Years
ROOF & STRUCTURE Tenant Responsible
LEASE TYPE Absolute NNN
LEASE ESCALATIONS 2.00% Annually
RENEWAL OPTIONS Three, 5-Year
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BRAND OPERATOR
OVERVIEW OVERVIEW
www.Churchs.com www.GoalzLLC.com
Church's Chicken is a US-based chain of fast food restaurants Goalz Restaurant Group was formed by restaurant industry veteran
specializing in fried chicken, also trading outside North America as Shawn Eby, who had a goal to start and develop his own company
Texas Chicken. Church’s currenlty operates over 1,700 locations that would focus around helping others. He quickly formed a team
in 32 states, two U.S. territories, and 23 foreign countries. The of top industry professionals to help achieve this. The team includes
company is headquartered in Sandy Springs (Atlanta), Georgia, Wade Lancaster-VP of Operations, Jeron Boemer-VP of Operations,
and is the fourth-largest chicken restaurant chain behind KFC, and Steve Piascik-CFO. Goalz Restaurant Group is currently
Chick-fil-A, and former sister chain Popeyes Chicken & Biscuits. scheduled to open 265 restaurants over the next few years across
ten states, (NC, SC, GA, FL, LA, OH, CO, WY, KY, IL) and has
The chain was founded by George Church in 1952 in San Antonio additional plans to grow further. Currently the three brands that Goalz
under the original name of Church's Fried Chicken To Go. Initially, will franchise are Captain D’s, Church’s Chicken and Dog Haus.
the restaurant sold only chicken, but fries and jalapeños were
added in 1955. The menu for Church's has since greatly expanded Shawn has always said “without goals you have no direction and
with fried okra, cole slaw, mashed potatoes, corn on the cob, and without direction you go nowhere”. When it came to thinking of not
honey butter biscuits being staples. Also, newer entree choices just a name but what we want to be known for Shawn thought about
have emerged, including sandwiches, nuggets, tacos, and a spicy his career and how he wanted this to be a company that truly cares
flavor option for the chicken. about the employees and their families. He thought about his goal
CHURCH’S CURRENLTY
setting class and teaching people about Goals Boards
OPERATES OVERand to go
In 2009, Church's Chicken was purchased by the San Francisco- after your dreams. Goalz recently announced a 200 unit Church's
based private equity firm Friedman Fleischer & Lowe, which Chicken franchise commitment with a plan to open 20 new
locations yearly.
operates the Church's brand through a wholly-owned subsidiary,
Cajun Global, LLC. In 2011, Cajun Global, LLC issued debt that The following are Goalzes' national leaders:
was rated ‘BBB’ by Standard & Poor’s. Cajun Global, LLC does not Shawn Eby - Chief Executive Officer
Wade Lancaster - Vice President of Operations
guarantee the lease.
Jaron Boemer - Vice President of Operations
Steve Piascik - Chief Financial Officer
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SITE
PLAN
1,850 SQUARE FEET
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STATE & AREA
CONTEXT
STATE
AREA
MELBOURNE MELBOURNE
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CITY
AERIAL
O
55 rla
M nd
ile o
s
Ind
ian
Orlando Melbourne
International Airport
Riv
er
DOWNTOWN
MELBOURNE
49
,0
00
Ve
hic
le
s
Pe
rD
ay
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N. Wickham Rd. (37,000 Vehicles Per Day)
AERIAL
SITEDEMOGRAPHIC
ANALYSIS
FLORIDA
POPULATION 1 MILE 3 MILE 5 MILE
2017 Population 3,797 43,671 123,436
2022 Projection 3,985 45,811 131,155 MELBOURNE
2010 Census 3,629 40,759 112,511
Growth 2017-2022 1.0% 1.0% 1.3%
HOUSEHOLDS
2017 Households 1,938 19,762 55,295
2022 Projected
2,042 20,789 58,848
Households INCOME 1 MILE 3 MILE 5 MILE
Growth 2017-2022 1.1% 1.0% 1.3%
Avg. Household Income $39,905 $60,496 $61,877
Owner Occupied 653 12,562 36,640
$25,000-$29,999 165 1,329 3,483
Renter Occupied 1,285 7,200 18,655
$35,000-39,999 45 943 2,702
$45,000-$49,999 99 792 2,544
$55,000-$59,999 56 749 2,361
RACE/ETHNICITY
$65,000-$69,999 37 597 1,836
Caucasian 2,878 34,397 102,267 $80,000-$89,999 35 666 2,449
African American 636 5,828 11,323 $100,000-$125,000 38 1,354 3,905
Am. Indian & Alaskan 23 100 331 $500,000+ 6 117 263
Asian 54 1,431 3,622
DAY
Hawaiian & Pacific Islander 2 19 66
Hispanic 292 3,284 10,799 Businesses 600 2,110 4,722
Other 229 2,014 6,224 Employees 13,351 39,540 79,046
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- 11 -MELBOURNE, FLORIDA | OFFERING MEMORANDUM
EXCLUSIVELY PRESENTED BY:
JOSIAH BYRNES | VICE PRESIDENT
JByrnes@EmbreeGroup.com | +1.719.243.6569 | www.EmbreeGroup.com
KLINTON LEWIS | ASSOCIATE NET LEASE SERVICES
KLewis@EmbreeGroup.com | +1.512.819.4729 | www.EmbreeGroup.com
ABOUT EMBREE
Embree Group of Companies provides nationwide turnkey real estate services,
specializing in build-to-suit development, design/build, general construction, program
management, and capital markets for specialty retail, financial, automotive, restaurant,
healthcare and senior living facilities. Embree’s fully integrated, in-house services allow
us to become an extension of the client’s organization. Since 1979, Embree’s foundation
has been built on developing tailored programs for 300+ national clients. The firm is
headquartered near Austin, Texas, with a regional office located in Phoenix. Over the
past 39 years, Embree’s executive team has developed, built, or transacted more than
12,000 assets in all 50 states, Puerto Rico, and Canada with a total market value in
excess of $10 billion.
Prototype Photo
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