EXCLUSIVE LISTING Offering Memorandum - Taco Bell / KFC (Ground Lease) | Charlotte, NC - LoopNet
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Taco Bell/KFC
EXCLUSIVE (Ground Lease) | Charlotte, NC
LISTING
Offering Memorandum
Taco Bell / KFC (Ground Lease) | Charlotte, NC
Actual Site
SHEREE STROME, CCIM KEELEE PETERSON
ASSOCIATE DIRECTOR ASSOCIATE DIRECTOR
(404) 900-5629 (404) 492-9469
sstrome@calkain.com kpeterson@calkain.com CCAALLKKAAIIN
N.C
.CO
OMM
1
Taco Bell/KFC (Ground Lease) | Charlotte, NC
Offering Memorandum
Rent Schedule
Financial Summary
Term Increases Annual Rent Monthly Rent
1-5 Years - $95,000 $7,916.67
5540 University Pointe Blvd | Charlotte, NC 28262
6-10 Years 10% $104,500 $8,708.30
Asking Price $2,090,000.00 | Cap Rate 5.00% 11-15 Years 10% $114,950 $9,579.17
16-20 Years 10% $126,445 $10,537.08
Net Operating Income (NOI) $104,500
Investment Highlights
Rent/Month $8,708.33
•• Excellent retail corridor
Land Area 0.95+/- Acres •• Absolute NNN lease
•• Close proximity to University of North Carolina & I-85
Tenant Name Yum! Brands, Inc.
•• Walmart outparcel
Credit Rating S&P: BB •• Corporate lease
Stock Symbol YUM! •• 10% Rent bump in 2020
Guarantor Corporate
Ownership Type Fee Simple
Lease Type NNN Ground Lease
Landlord Responsibilities None
Store Opened January 25, 2010
Lease Term Remaining 12 Years
Rent Commencement January 25, 2010
Lease Expiration January 24, 2030
Increases 10% Every 5 Years
Options Four (4), Five (5) Year
2
Taco Bell/KFC (Ground Lease) | Charlotte, NC
Offering Memorandum
Tenant Overview
About Taco Bell About KFC
Taco Bell Corp., a subsidiary of Yum! Brands, Inc., (NYSE: Harland Sanders, a honorary Kentucky Colonel, founded
KFC in 1930 in the small front room of a gas station in
YUM), is the nation’s leading Mexican-inspired quick
Corbin, Kentucky. The Colonel actively started franchising
service restaurant. Taco Bell serves made-to-order and in 1952. PepsiCo then acquired KFC in 1986, and in 1997,
customizable tacos and burritos, among other choices, and they announced the spin-off of its quick service restaurants
is the first QSR restaurant to offer American Vegetarian - KFC, Taco Bell, and Pizza Hut now known as Yum! Brands,
Association - certified menu items. Taco Bell and its more Inc. Headquartered in Louisville, Kentucky, KFC menu includes their popular
Crispy Kentucky Grilled Chicken® and Extra Crispy™ Tenders with home-style
than 350 franchise organizations proudly serve over 42 million customers each
sides, Hot Wings™ pieces and freshly made chicken sandwiches.
week through nearly 7,000 restaurants across the nation, as well as through its
KFC operates more than 17,000 restaurants in the Unites States. With nearly
mobile, desktop and delivery ordering services.
15,000 restaurants in 120 countries and territories, the brand generated $16
As the leading Mexican-inspired quick service restaurant brand, Taco Bell plans billion in annual system sales and has grown operating profit over the last three
years at a 9% compound annual growth rate in constant currency.
to have 8,000 restaurants by the year 2023 which they anticipate will add an
estimated 100,000 jobs nationwide.
About Yum! Brands
Based in Louisville, Kentucky, has nearly 43,000 restaurants in 135 countries and territories and
is one of the Aon Hewitt Top Companies for Leaders in North America. The Company’s restaurant Yum! Brands Snapshot
brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican- # of Locations 43,000+
style food categories. Worldwide, the Yum! Brands system opens over six new restaurants per day Stock Symbol NYSE: YUM
on average, making it a leader in global retail development. Revenue (2016) $6.366 BILLION
3
Taco Bell/KFC (Ground Lease) | Charlotte, NC
Offering Memorandum
Location Overview
Distance To:
Greensboro, NC 83 miles
Columbia, SC 100 miles
Greensboro, NC
Asheville, NC 134 miles
Atlanta, GA 249 miles
Asheville, NC Subject Site
Charlotte, NC
Columbia, SC
Atlanta, GA
4
Taco Bell/KFC (Ground Lease) | Charlotte, NC
Offering Memorandum
5540 University Pointe Blvd | Charlotte, NC 28262
University
City North
Charlotte Highlights
•• Taco Bell / KFC located 1.5 miles
from UNC Charlotte
•• 28,000+ enrollment at UNC
•• Charlotte is the second largest banking
center in the United States
•• Growth and developement - nearly
50 restaurants, shops, service busi- Shoppes at
nesses and recreational venues have University University
opened or renovated since January Place Hospital
of 2016 Innovation
Park 85
University
Place
0 VPD
31,00
Subject Site
on St 00 VPD
32,0
Blvd
N Try
ty
sity Ci
ver
Uni
University City 85
Boulevard transit-
station parking deck
5
Taco Bell/KFC (Ground Lease) | Charlotte, NC
Offering Memorandum
5540 University Pointe Blvd | Charlotte, NC 28262
Subject Site
85
PD
,000 V
n St 31
00 VPD
32,0
N Tryo
Blvd
ity
rsity C
ve
Uni
University City
Boulevard transit-
station parking deck
Lee’s Nails
6
Taco Bell/KFC (Ground Lease) | Charlotte, NC
Offering Memorandum
5540 University Pointe Blvd | Charlotte, NC 28262
l vd
e B
t
Subject Site
oin
y P
sit
e r
NT iv
ryo U n
nS
t3
1,0
00
VP
D Lee’s Nails
Hibachi
Express
7
Taco Bell/KFC (Ground Lease) | Charlotte, NC
Offering Memorandum
Demographics
Radius 1 Mile 3 Miles 5 Miles
Population
2016 Population 1,866 79,779 194,537
2021 Population 2,115 88,155 214,832
2010-2016 Annual Rate 1.59% 1.86% 1.89%
2016-2021 Annual Rate 2.54% 2.02% 2.00%
2016 Male Population 50.3% 49.4% 48.8%
2016 Female Population 49.7% 50.6% 51.2%
2016 Median Age 29.0 28.6 31.2
Households
2016 Total Households 837 29,807 72,539
2021 Total Households 941 32,848 79,721
2010-2016 Annual Rate 1.22% 1.66% 1.62%
2016-2021 Annual Rate 2.37% 1.96% 1.91%
2016 Average Household Size 2.22 2.56 2.62
Median Household Income
2016 Median Household Income $42,181 $42,066 $46,603
2021 Median Household Income $47,775 $45,840 $52,010
2016-2021 Annual Rate 2.52% 1.73% 2.22%
Average Household Income
2016 Average Household Income $58,688 $57,067 $62,476
2021 Average Household Income $64,580 $61,765 $67,914
2016-2021 Annual Rate 1.93% 1.59% 1.68%
Per Capita Income
2016 Per Capita Income $23,690 $21,631 $23,486
2021 Per Capita Income $25,913 $23,297 $25,367
2016-2021 Annual Rate 1.81% 1.50% 1.55%
8
Taco Bell/KFC (Ground Lease) | Charlotte, NC
Offering Memorandum
Market Overview
Charlotte, NC the United Soccer League (USL), two
NASCAR Sprint Cup races and the
Charlotte is the largest city in the state NASCAR All-Star Race, the Wells Fargo
of North Carolina. It is the county seat Championship, the NASCAR Hall of
of Mecklenburg County and the second Fame, Carowinds amusement park, and
largest city in the southeastern United the U.S. National Whitewater Center.
States, just behind Jacksonville, Florida. Charlotte Douglas International Airport
Charlotte is the third fastest growing is a major international hub, and was
major city in the United States. In 2014, ranked the 23rd busiest airport in the
the estimated population of Charlotte world by passenger traffic in 2013.
according to the U.S. Census Bureau was
809,958, making it the 17th largest city Charlotte is located several miles east of
in the United States based on population. the Catawba River and southeast of Lake
The Charlotte metropolitan area ranks Norman, the largest man-made lake in
22nd largest in the US and had a 2014 North Carolina.
population of 2,380,314. The Charlotte
metropolitan area is part of a sixteen-
county market region or combined
statistical area with a 2014 U.S. Census
population estimate of 2,537,990.
Charlotte is home to the corporate
headquarters of Bank of America
and the east coast operations of
Wells Fargo, which along with other
financial institutions makes it the
second largest banking center in the
United States. Among Charlotte’s
many notable attractions, some of
the most popular include the Carolina
Panthers of the National Football
League (NFL), the Charlotte Hornets
of the National Basketball Association
(NBA), the Charlotte Independence of Location Name
9
Taco Bell/KFC (Ground Lease) | Charlotte, NC
Offering Memorandum
Charlotte, NC News
Dozens of new shops, restaurants and services open light-rail station, says Tobe Holmes with University City Partners. Among the
surprises: Demand for 3-bedroom housing is “off the map,” and the highest income
or coming group in Charlotte is couples with one person working uptown and the other in
by Rich Haag | Nov 7, 2016 | Economic Development, University City. “I think it shows the power of University City being Charlotte’s
second largest employment center, and the high quality of its employers,” said
Retail Expansion, Transit Oriented Development Holmes, UCP’s planning and development director. Both those numbers and a wealth
This has been a year of retail, dining and services growth for of other data from the survey and other sources will help shape a development plan
University City’s main business district, and much more is for the half-mile area around the JW Clay Boulevard Station and 800-space parking
coming. Nearly 50 restaurants, shops, service businesses and deck beside University Place. University City Partners and six major property...
recreational venues have opened or renovated since January
or will open soon. Many centers are fully leased or nearly Retail experts share plans for IKEA, Concord Mills
so; and a new retail center, The Pointe at University Place, is close to leasing out
and University Place
its 37,000 sf. Here’s the story. This year’s new arrivals For this report, we reviewed
building permits and news reports, then drove through all of the retail centers along by Rich Haag | Aug 17, 2016 | Economic Development, Retail Expansion
University City Boulevard and North Tryon Street. Restaurants – 20 are open or Three experts in University’s retail scene offered a glimpse
coming, including local originals such as Fusion Cafe at Grande Promenade, Famous of the future recently at the Charlotte Chamber University
Toastery at University Place, Ale’s University at the Terraces at University Place City Chapter’s luncheon forum on retail trends. At IKEA,
and Appalachia Cookies at the Target center. Six restaurants including Five Guys store manager Chris Nace looks forward to the coming of
Burgers, City Barbecue and Dunkin Donuts have signed leases at The Pointe, the new light-rail service and the increasing number of shoppers
retail center going up on North Tryon Street near the Clay Boulevard transit station. arriving by train. At Concord Mills, mall manager Ray
TGI Fridays recently completed a $350,000 renovation, while Showmars spent Soporowski says that the many changes under way at the mall or coming soon are all
$250,000 to update its building. Earlier this year, Waffle House opened a brand-new about strengthening Concord Mills as the region’s top family-friendly entertainment
restaurant... venue. At University Place and the adjacent JW Clay Boulevard Transit Station, Tobe
Holmes, planning director for University City Partners, says that the new shops going
Survey offers strong support for town center at in at two light-rail parking decks and at University Place reflect the first step toward
University Place University City’s transit-powered urban future. “I always get asked, ‘Where is the
city?’” Holmes told the gathering at the Charlotte Hilton University Place, a short
by Rich Haag | Oct 11, 2016 | Business Growth, Economic walk from the Clay Boulevard light-rail station. “Well, the city will be right here where
Development, Job Growth in University City, Light Rail, we are sitting.” Chamber invited group to discuss...
Retail Expansion, Transit Oriented Development To read the full article’s visit
A new survey offers surprising and encouraging results https://universitycitypartners.org/category/retail-expansion/
about the potential for development near the Clay Boulevard
10Taco Bell/KFC (Ground Lease) | Charlotte, NC
Offering Memorandum
About Calkain
Who Are We?
We are a national commercial real estate firm that provides consulting and With the growth in staff, seasoned professionals have been attracted to Calkain’s
brokerage services to both private and institutional clientele with an expertise on model of innovation, entrepreneurship and the fostering of long-lasting and
triple net lease investments. We pride ourselves on being a world class leader by meaningful relationships. Industry experts have joined Calkain in the hopes of
providing our clients a full array of commercial real estate investment brokerage implementing the skills they have honed in complementary aspects of real estate
and asset management solutions, including advisory, research, estate planning investment.
and wealth management. Through a tremendous endeavor, tireless hours have been committed to
We have built solid relationships throughout our decades of experience and continually prove that Calkain is America’s Net Lease Company®. Its countless
innovation, implementing long-term allocation within the context of each client’s accolades received from the world’s leading business publications, including
particular risk tolerance and identifying how best to acquire and dispose of income Forbes™, Fortune™ and the New York Times™ have confirmed that Calkain is a
producing properties for each entities’ specific set of investment criterion. At true leader in triple net lease investing services.
Calkain, our foresight and past performance are leading the net lease investment
industry.
Client Testimonial
Our History
Like most success stories, Calkain was formulated from humble beginnings.
“USRA has worked with Calkain on numerous occasions. They have always been
meticulous in their work ethic, providing superior service and extremely prompt
Jonathan W. Hipp, President and CEO, took the initiative to build upon his
attention to our needs. I highly recommend them.
decades of experience and performance and left a large international brokerage
firm to become an independent and innovative leader within the triple net lease - Jack Genende, Partner | U.S. Realty Advisors, LLC. (USRA)
investment community. Armed with a sole employee and a single office, the firm
has grown exponentially since its infancy in 2005.
$11.5 Billion $350 Million
in Closed Transactions in Active Listings
SHEREE STROME, CCIM KEELEE PETERSON
ASSOCIATE DIRECTOR ASSOCIATE DIRECTOR
(404) 900-5629 (404) 492-9469
sstrome@calkain.com kpeterson@calkain.com CCAALLKKAAIIN
N.C
.CO
OMM
11Contact Us Corporate Headquarters Washington, DC 12930 Worldgate Drive | Suite 150 Herndon, VA 20170 T: (703) 787-4714 • F: (703) 787-4783 Tampa 400 N. Tampa Street | Suite 2660 Tampa, FL 33602 T: (813) 282-6000 • F: (813) 282-6098 South Florida 200 SW 1st Avenue | Suite 880 Fort Lauderdale, FL 33301 T: (954) 302-7365 Atlanta 111 Village Parkway, Building 2 | Suite 202 Marietta, GA 30067 T: (404) 900-5629 Boston 101 Federal Street | Suite 1900 Boston, MA 02110 T: (617) 261-8584 CALKAIN.COM DISCLAIMER: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regula- tions, 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 the subject property(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
You can also read
