Single Tenant NNN Taco Bell Corporate Ground Lease - (15 YEARS REMAINING) 1190 Calimesa Blvd, 92320 Calimesa, CA - LoopNet
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(15± YEARS REMAINING)
Single Tenant NNN Taco Bell Corporate Ground Lease
1190 Calimesa Blvd, 92320
Calimesa, CA
1 TACO BELL NNN CORPORATE GROUND LEASE - 1190 CALIMESA BLVD, CALIMESA, CA 92320
Single Tenant NNN Taco Bell Corporate Ground Lease
1 1 9 0 C A L I M E S A B L V D ,
C A L I M E S A , C A 9 2 3 2 0
INVESTMENT ADVISERS:
JORDAN UTTAL JASON GRIBIN PATRICK TOOMEY TOM LAGOS
Vice President Vice President Executive Vice President Executive Vice President
T +1 (213) 239 6222 T +1 (213) 239 6130 T +1 (213) 239 6223 T +1 (213) 239 6178
C +1 (818) 231 4670 C +1 (310) 867 9311 C +1 (310) 403 4984 C +1 (310) 722 8939
Jordan.Uttal@am.jll.com Jason.Gribin@am.jll.com Patrick.Toomey@am.jll.com Tom.Lagos@am.jll.com
License # - 01856260 License # - 01819611 License # - 00881133 License # - 01519359
Contents 1. Executive Overview 2. Area Overview 3. Tenant Overview
Executive Overview
OFFERING SUMMARY FINANCIAL SUMMARY
Property Name Taco Bell Taco Bell - Calimesa, CA
List Price $2,100,000
Property Address 1190 Calimesa Blvd, Calimesa, CA 92320 Cap Rate 4.00%*
A commerical stand alone one story Operating Data
Taco Bell Restaurant, ideally positioned Term 1/1/1995 - 12/31/2034 (15± years remaining)
with commercial frontage along the Mo Rent Ann Rent PSF
Site Description I-10 (95,000 CPD) and adjacent to Stater Current - 12/31/2019 $6,377.67 $76,532 $2.90
Bros Anchored Shopping Center. The 1/1/2020-12/31/2024 $7,015.47 $84,186 $3.19
1/1/2025-12/31/2029 $7,717.02 $92,604 $3.51
site is surrounded by 80,000 permanent
1/1/2030-12/31/2034 $8,488.72 $101,865 $3.86
residents in 5 miles. Opt 1: 1/1/2035-12/31/2039 $9,337.59 $112,051 $4.24
Opt 2: 1/1/2040-12/31/2044 $10,271.35 $123,256 $4.67
No. Stories 1
Year Built/Renovated 1995 Tenant Summary
GLA ±2,200 SF Tenant DBA Taco Bell
Taco Bell Corp, a California Corporation +
Tenant Name
Lot Size ±46,173 SF/ 1.06 Acres Du Cook Me Tacos, LLC Sublease
Ownership Fee Simple
Ownership Type Fee Simple Lease Type NNN Ground Lease
Foundation Concrete
*Seller to credit buyer $637.80 per month from COE to 12/31/2019
Framing Wood
Roof Mission tile and built-up asphalt roofing
APN #: 000-255-789
Zoning FEW - DRIVE-INS/FAST FOOD
4 TACO BELL NNN CORPORATE GROUND LEASE - 1190 CALIMESA BLVD, CALIMESA, CA 92320
PROPERTY HIGHLIGHTS
15± year corporate Taco Bell ground High volume NNN Taco Bell visible
lease with 10% increases every from the I-10.
5 years including options SUBJECT
PROPERTY
Current rent payment is well Surrounded by over 80,000 permanent
below market rent. residents in a 5-mile radius.
Directly adjacent to high volume Stater Ideally positioned with commercial frontage
Bros. Anchored Shopping Center. along the I-10 ( 95,000 VPD), one of the
busiest thoroughfares in Riverside County.
5 TACO BELL NNN CORPORATE GROUND LEASE - 1190 CALIMESA BLVD, CALIMESA, CA 92320
Area Overview
CALIMESA, CALIFORNIA
The city of Calimesa, CA is a relatively new city, as it was only
officially incorporated in 1990. The area began as a small rural
ranch town in Riverside County. Today, there are only 9,308
people, however there is a pipeline of single family homes in
development within the city over the next few years. Calimesa
is part of the larger Yucaipa, Redlands, Beaumont area, where
families often move to be near the vast array of hiking and
equestrian trails that wind through the historic land.
6 TACO BELL NNN CORPORATE GROUND LEASE - 1190 CALIMESA BLVD, CALIMESA, CA 92320
DEMOGRAPHICS
56%
earn >75k
28,890
28%
earn >100k
Over 56% of the households within a households within a 5-mile radius
5-mileradius earn more than 75k per
year with 33% earning more than 100k Average Household income
within a 5-mile radius is
$111,237
3-Mile Radius 3-Mile Radius
2018 Total Population Daytime population of
43,877 34,085 $158M was spent on food
away from home in 2018, within a
5-mile radius of the property
60.5% of the
population within 1.88% Household increase
a 1-mile radius are projected over the next five years
WHITE COLLAR within a 1-mile radius
EMPLOYEES
7 TACO BELL NNN CORPORATE GROUND LEASE - 1190 CALIMESA BLVD, CALIMESA, CA 92320TRADE AREA AERIAL
MESA VIEW
MIDDLE SCHOOL
SUBJECT
PROPERTY
95,000
VPD
8 TACO BELL NNN CORPORATE GROUND LEASE - 1190 CALIMESA BLVD, CALIMESA, CA 92320Tenant Overview
Don’t ask for whom the Taco Bell tolls; it tolls
for millions of diners seeking a tortilla-wrapped
meal. A unit of fast-food behemoth YUM! Brands,
Taco Bell is the #1 Mexican fast-food chain in the
To ward off competition, and to compete more broad-
ly in the quick-service snacking segment, Taco Bell
is focused on developing new menu items to drive
additional traffic to its outlets. The chain’s Freeze
#472 IN FORTUNE 500
US, with about 6,600 locations. The restaurants frozen fruit drinks have helped boost business during Source: http://fortune.com/fortune500/yum-brands/
feature a wide range of Mexican-style menu items non-lunch hours, and in a nod towards consumer
including tacos, burritos, gorditas, quesadillas, and interest in healthy eating, Taco Bell offers foods with
nachos. Taco Bell units can be found operating as fewer calories and fat. Parent YUM! Brands is also
free-standing units and as quick-service kiosks in focused on expanding the international appeal of
such places as shopping malls and airports. Taco Taco Bell. It is investing in franchising efforts targeting
Bell also has 350 international locations in more France, India, and Russia.
than 20 countries. More than 10% of the restau-
rants are company-operated. Parent YUM! Brands, Taco Bell plans to open between 300 and 350
the world’s #1 fast-food company, also operates “Cantina” style locations between now and 2022.
$265 M
KFC and Pizza Hut. The Taco Bell Cantinas will sell alcoholic bever-
ages including beer, wine, margaritas, and other
Taco Bell and its sister chains all rely heavily on alcohol-infused slushies. The first Taco Bell Cantina
franchising in order to operate throughout the locations will be in big cities like Boston and New
country. Local franchisees are allowed to use the York City. Cantinas that serve alcohol will not have
company’s branding, marketing, and other intel- drive through windows. ANNUAL SALES (ESTIMATED)
Source: http://investors.yum.com/Cache/1001244815.PDF
lectual property in exchange for royalties and other
fees. Alabama-based Tacala is the #1 Taco Bell
operator in the country. Nearly 70% of the chain’s
revenue come from drive-through orders.
Having long ago outstripped its competition in the
Mexican quick-service segment, Taco Bell claims
more than 50% of the market. Its main competition
within the segment is largely regional, such as Del
Taco in California and Taco Johns in the Midwest.
60,000
However, the chain is facing increasingly stiff com-
petition from quick-casual chains led by Chipotle
Mexican Grill which promote the use of higher
quality food ingredients EMPLOYEES
Source: http://fortune.com/fortune500/yum-brands/
9 TACO BELL NNN CORPORATE GROUND LEASE - 1190 CALIMESA BLVD, CALIMESA, CA 92320LEASE ABSTRACT
1190 CALIMESA BLVD, CALIMESA, CA 92320
Tenant DBA: Taco Bell
Tenant: Taco Bell Corp., a California corporation - Du Cook Me Tacos, LLC (Assignee)
Lease Commencement Date: 1/1/1995
Lease Exipration Date: 12/31/2034
Use: Taco Bell restaurant and conducting business of a Taco Bell retail food outlet serving those items offered.
Current Base Rent Schedule: 1/1/2015 - 12/31/2019: $6,377.70 per month; 1/1/2020: $7,015.47; 1/1/2025: $7,717.02; 1/1/2030: $8,488.72
Option(s) Remaining: 2 x 5 Year
Option Base Rent Schedule: Option 1/1/2035: $9,337.59; Option 1/1/2040: $10,271.35; Assignee shall be required to remodel the restaurant building by 12/31/2024 as a condition to
receiving the two additional options to renew.
Utilities: Tenant agrees to pay all charges for water, gas, electricity, or other public utilities incurred.
Property Taxes: Tenant will pay all real estate taxes and assessments.
Insurance: Tenant will, at its own cost and expense, maintain fire insurance with extended coverage.
Common Areas: -
Maintenance: Tenant at its sole cost and expense to maintain and keep the real property in an orderly condition and in a state of good repair, excepting normal
wear and tear.
Right of First Refusal: Tenant has during the term the first right of refusal to purchase the real property upon the same terms and conditions as those of any bona fide offer
received by and acceptable to Landlord.
Restrictions: -
Exclusives: -
10 TACO BELL NNN CORPORATE GROUND LEASE - 1190 CALIMESA BLVD, CALIMESA, CA 92320SITE PLAN 11 TACO BELL NNN CORPORATE GROUND LEASE - 1190 CALIMESA BLVD, CALIMESA, CA 92320
Single Tenant NNN Taco Bell Corporate Ground Lease
1 1 9 0 C A L I M E S A B L V D ,
C A L I M E S A , C A 9 2 3 2 0
INVESTMENT ADVISERS:
JORDAN UTTAL JASON GRIBIN PATRICK TOOMEY TOM LAGOS
Vice President Vice President Executive Vice President Executive Vice President
T +1 (213) 239 6222 T +1 (213) 239 6130 T +1 (213) 239 6223 T +1 (213) 239 6178
C +1 (818) 231 4670 C +1 (310) 867 9311 C +1 (310) 403 4984 C +1 (310) 722 8939
Jordan.Uttal@am.jll.com Jason.Gribin@am.jll.com Patrick.Toomey@am.jll.com Tom.Lagos@am.jll.com
License # - 01856260 License # - 01819611 License # - 00881133 License # - 01519359You can also read
