2599 whiskey rd | aiken, sc 66209...including hobby lobby, petsmart, lowe’s and many more very...

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OFFERING MEMORANDUM

2 5 9 9 W H I S K E Y R D | A I K E N , S C 6 6 2 0 9

CHUCK EVANSSenior Associate

DIR +1 (925) 319-4035MOB +1 (925) [email protected]

License No. 01963473 (CA)

EXCLUSIVELY LISTED BY:BROKER OF RECORDKyle MatthewsLicense No. 22684 (SC)

2599 Whiskey Rd | Aiken, SC2

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4INVESTMENT SUMMARY

5PROPERTY OVERVIEW

6TENANT PROFILE

7FINANCIAL OVERVIEW

9AREA OVERVIEW


CHILI’S GRILL & BAR 3

INVESTMENT HIGHLIGHTS

▶ Long term 20-year lease providing for generational cash flow for passive investors

▶ Absolute NNN ownership ideal for hands off landlords while still capitalizing on depreciation with ownership of the building

▶ Strong hedge against inflation with 10% increases every 5 years

▶ Seller will provide escrow for 2020 rents payments

▶ Incredible visibility having over 20,000 CPD passing by this Chili’s on Whiskey Rd

▶ Sitting directly in front of a Target anchored shopping center with other retailers including Hobby Lobby, PetsMart, Lowe’s and many more

▶ Very close to the Aiken Mall Redevelopment. This project will be comprised of more than 256 new apartments, 100 room hotel, ±154,000 SF retail, entertainment and fitness space and a centralized public park and event space.

▶ Very strong guaranty backed by Hielan Restaurant Group, a top Chili’s franchisee with nearly $100 million revenue

ADDRESS 2599 Whiskey RdAiken, SC 29803

PRICE $3,420,201

CAP RATE 5.50%

NOI $188,111

GLA ± 3,993 SF

LOT SIZE ± 1.43 Acres

YEAR BUILT 2001

INVESTMENT SUMMARY

1-MILE 3-MILE 5-MILE

POPULATION 4,548 28,711 45,828

HOUSEHOLDS 2,116 12,820 20,246

HH INCOME $71,304 $83,332 $80,069

DEMOGRAPHICS


PROPERTY OVERVIEW

▶ PROPERTY ADDRESS 2599 Whiskey Rd, Aiken, SC

▶ BUILDING SIZE± 3,993 SF

▶ LOT SIZE± 1.43 AC

▶ LEASE TYPEAbsolute NNN

▶ YEAR BUILT2001

▶ FRONTAGE & ACCESSWhiskey Rd

PROPERTY DESCRIPTION


TENANT PROFILE

CHILI’S GRILL & BARChili’s Grill & Bar is an American casual dining restaurant chain that features Tex-Mex style cuisine. The company was founded by Larry Lavine in Texas in 1975 and is currently owned and operated by Brinker International. Chili’s first location, a converted postal station on Greenville Avenue, is in the Vickery Meadows area of Dallas, Texas. The founder’s concept was to create an informal, full-service dining restaurant with a menu featuring different types of hamburgers offered at an affordable price. In addition to its regular menu, Chilis offers a nutritional menu, allergen menu, and vegetarian menu. Today, you can find Chili’s in 32 different countries. Chili’s happily celebrated 20 years in Mexico and are opening new locations in Asia and beyond.

1,610+Locations

1975Founded

DALLASHeadquarters


ANNUALIZED OPERATING DATA

YEAR ANNUAL RENT CAP RATE

Years 1 - 5 $188,111.00 5.50%

Years 6 - 10 $206,922.10 6.05%

Years 11 - 15 $227,614.31 6.65%

Years 16 - 20 $250,375.74 7.32%

Option 1 $275,413.32 8.05%

Option 2 $302,954.65 8.86%

Option 3 $333,250.11 9.74%

TENANT SUMMARY

Lease Type Absolute NNN

Tenant Chili’s

Lease Guarantor Hielan Restaurant Group, LP

Roof & Structure Tenant Responsible

Rent Commencement Date Close of Escrow

Lease Expiration Date 20 Years from COE

Lease Term 20 Years

Rental Increases 10% Every 5 Years

Renewal Options Three (3), Five (5) Year

FINANCIAL OVERVIEW


F U T U R E N E WM I X E D U S E D E V E L O P M E N T

W H I S K E Y R D± 2 3 , 0 0 0 V P D

S O U T H A I K E NH I G H S C H O O L

AERIAL

AREA OVERVIEW

45,8285 MI POPULATION

$83,332 3 MI AVG HH INCOME

10.50%2020 to 2025 GROWTH

AIKEN, SCJust 20 minutes outside of Augusta, GA, Aiken is the largest city in Aiken County. Located in the western portion of South Carolina, the town is part of the Augusta-Richmond County MSA. Aiken is conveniently located only 2 ½ hours from many major southern cities, including Atlanta, Greenville, Charlotte, Charleston, Hilton Head Island, and Savannah. Aiken is home to the University of South Carolina Aiken, a satellite campus.

The town has been recognized for the All-America City Award, as well as “Best Small Town of the South.” Aiken is best known for its holiday celebration that brings in thousands from all over the state to see the one-of-a-kind lights, decorations, and parades.

AIKEN, SC

AIKEN MALL REDEVELOPMENTA local development company, Southeastern Development Associates, announced it will make a more than $30 million investment to the current Aiken Mall, giving people a chance to dine, shop and live. There will be a 256 unit apartment community, complete with an array of amenities, including a pool and workout facility. Additionally, the outdoor mall concept will offer several restaurants and retailers that appeal to the Aiken demographics as well as more green space–a must-have for many millennials. The project will be complete in phases over the next two to three years.

AUGUSTA, GA

Augusta, Georgia, is the Garden City of the South, home of the globally recognized Masters Tournament, birthplace of Soul Icon James Brown, and home of the US Army’s Cyber Center of Excellence at Fort Gordon. Founded in 1736 by General James Oglethorpe (a statue of whom graces Augusta Common), Augusta’s streets have been trod by Native Americans, British and Colonial Soldiers, Presidents of the United States, heroes and villains, entertainers, scholars, sportsmen, and everyday people who have carved, formed, and shaped a small trading outpost into Georgia’s second-largest city.

In Augusta, history meets high-tech, sports meet with southern hospitality, industry meets with a growing technically savvy workforce, and a love of the outdoors and recreation meets with a resurgent urban landscape. Nestled along the banks of the Savannah River, Augusta is the second largest and oldest city in Georgia. Located in the east central section of the state, Augusta is approximately 150 miles east of Atlanta on Interstate 20. Augusta is also centrally located just two and a half hours from the beach and the mountains.


This Offering Memorandum contains select information pertaining to the business and affairs of Chili’s located at 2599 Whiskey Rd, Aiken, SC 29803 (“Property”). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.

By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

1. The Offering Memorandum and its contents are confidential;2. You will hold it and treat it in the strictest of confidence; and3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or

manner detrimental to the interest of the Seller.

Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

CONFIDENTIALITY AGREEMENT & DISCLOSURE

OFFERING MEMORANDUM

EXCLUSIVELY LISTED BY:

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CHUCK EVANSSenior Associate

DIR +1 (925) 319-4035MOB +1 (925) 323-2263

[email protected]

License No. 01963473 (CA)

BROKER OF RECORDKyle Matthews

License No. 22684 (SC)

2599 whiskey rd | aiken, sc 66209...including hobby lobby, petsmart, lowe’s and many more very...

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