confidential offering memorandum · master of real estate development degree from arizona state...
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CAPTAIN D’s 2019 CONSTRUCTION, 20-YEAR NNN LEASE 1709 Midland Trail | Shelbyville, KY 40065
CONFIDENTIAL OFFERING
MEMORANDUM
Representative Photo*Actual Site Under Construction
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EXCLUSIVEOFFERING
SINGLE-TENANT, NET-LEASED QUICK SERVICE RESTAURANT
NEW 2019 CONSTRUCTION
NEW 20-YEAR LEASE TERM
JOSIAH BYRNES VICE PRESIDENT
Josiah Byrnes serves as Vice President of Embree Capital Markets Group, Inc., where he helps guide the formation and execution of diversified real estate capital structures and investment strategies for individual, institutional, and international investors, developers, and tenants.
Josiah joined Embree Group of Companies in 2010. He received BA and MBA degrees from the University of Colorado, as well as a Master of Real Estate Development Degree from Arizona State University.
KLINTON LEWIS ASSOCIATE-NET LEASE SERVICES
Klinton Lewis serves as Associate of Net Lease Services with Embree Capital Markets Group, Inc., where he is responsible for marketing current assets, new developments, and private client’s commercial real estate properties. Klinton also provides investment advice to clients, and is focused on new and existing client business development.
Prior to joining the Embree Capital Markets Group Inc., Klinton served as a real estate agent specializing in single-tenant, net-lease properties, with Marcus & Millichap in Austin, Texas.
LISTED BY:
$2,840,000 PURCHASE
PRICE
$184,476 ANNUAL
RENT
6.50% CAP RATE
ANNUAL INCREASES
2.00%
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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.
DISCLAIMER &CONFIDENTIALITY STATEMENT
The Embree Group has an ownership interest in the subject property.
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TABLE OF CONTENTSProperty & Lease
Details- 5 -
Company Overview- 6 -
Site Plan - 7 -
Maps & Aerials- 8 -
Demographic Analysis - 12 -
Contact- 13 -
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THE OFFERINGPROPERTY ADDRESS 1709 Midland Trail Shelbyville, KY 40065
TENANT Goalz Restaurant Group KTY, LLC
GUARANTOR
SITE DESCRIPTIONBUILDING SIZE Approximately 2,000 SF
PATIO SIZE Approximately 800 SF
LOT SIZE Approximately 1.46 Acres
INVESTMENT SUMMARYPURCHASE PRICE $2,840,000 ANNUAL RENT $184,476
CAP RATE 6.50%
EST. February 2019
EST. LEASE END February 2039
LEASE TERM 20-Years
LEASE TYPE Absolute NNN
ROOF & STRUCTURE Tenant Responsible
LEASE ESCALATIONS 2.00% Annually
PROPERTY &LEASE DETAILS
COMMENCEMENT
RENT ROLLSUMMARY
Goalz Restaurant Group, LLC andTwo High Net Worth Individuals
Year 1Year 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9Year 10Year 11Year 12Year 13Year 14Year 15Year 16Year 17Year 18Year 19Year 20
$184,476 $188,165 $191,928 $195,767 $199,682 $203,676 $207,749 $211,904 $216,143 $220,465 $224,875 $229,372 $233,960 $238,639 $243,412 $248,280 $253,246 $258,310 $263,477 $268,746
$15,373 $15,680 $15,994 $16,313 $16,640 $16,973 $17,312 $17,658 $18,011 $18,372 $18,739 $19,114 $19,496 $19,886 $20,284 $20,690 $21,103 $21,525 $21,956 $22,395
6.50%6.63%6.76%6.89%7.03%7.17%7.32%7.46%7.61%7.76%7.92%8.08%8.24%8.40%8.57%8.74%8.92%9.10%9.28%9.46%
LEASE TERM
ANNUAL RENT
MONTHLY RENT
CAP RATE
RENEWEL OPTIONS Three, 5-Year
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BRANDOVERVIEW
Goalz Restaurant Group was formed by restaurant industry veteran Shawn Eby, who had a goal to start and develop his own company that would focus around helping others. He quickly formed a team of top industry professionals to help achieve this. The team includes Wade Lancaster-VP of Operations, Jeron Boemer-VP of Operations, and Steve Piascik-CFO. Goalz Restaurant Group is currently 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 additional plans to grow further. Currently the three brands that Goalz will franchise are Captain D’s, Church’s Chicken and Dog Haus.
Shawn has always said “without goals you have no direction and without direction you go nowhere”. When it came to thinking of not just a name but what we want to be known for Shawn thought about his career and how he wanted this to be a company that truly cares about the employees and their families. He thought about his goal setting class and teaching people about Goals Boards and to go after your dreams.
The following are Goalzes' national leaders:
OPERATOROVERVIEW
Captain D’s is a U.S. based chain of fast casual seafood restaurants specializing in seafood and their first one opening in Donelson, Tennessee, on August 15, 1969. There are currently over 520 locations in 20 states. Known originally as Mr. D’s Seafood and Hamburgers, Captain D’s changed its company name to Captain D’s Seafood in 1974 to focus more exclusively on its classic fish and chips, shrimp and side dishes.
Throughout the 1970s, the company grew rapidly and added special programs like the Kids’ Birthday Club and children’s comic books. During the 1980s and 1990s, the company’s logo and building design evolved.
On September 13, 2010, Phil Greifeld was appointed CEO of Captain D’s.
Captain D’s achieved record-breaking success in 2015, driven by its seafood expertise and product innovation, with the introduction of new menu items including the Parmesan Crusted Tilapia, Homestyle Fish Tenders, and Creamy Shrimp Scampi, all supported by the company’s award-winning “For the Love of D’s” television campaign.
In 2017 Captain D’s introduced Dave and Desmond, also known as the D-Gulls. The D-Gulls are two super fans on the quest for “The Taste of the Coast.”
Shawn Eby Wade Lancaster Jaron Boemer Steve Piascik
- Chief Executive Officer- Vice President of Operations- Vice President of Operations- Chief Financial Officer
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SITEPLAN
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STATE & AREACONTEXT
STAT
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SHELBYVILLE, KY
SHELBYVILLE, KY
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CITYAERIAL
N
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S
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I-64 (55,000 Vehicles Per Day)
Tayl
orsv
ille
Rd. (
21,0
00 V
ehic
les
Per D
ay)
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N
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S
W
Midland Trail (26,000 Vehicles Per Day)
CITYAERIAL
55
(18,
000
Vehi
cles
Per
Day
)
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AERIAL
SITEAERIAL
Midland Trail (26,000 Vehicles Per Day)
N
E
S
W
First Choice Ankle & Foot Care
Tumbleweed Tex mex
Shelby County Chiropractic
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DEMOGRAPHICANALYSIS
KENTUCKYSHELBYVILLE
1 MILE 3 MILE 5 MILE POPULATION
RACE/ETHNICITY
HOUSEHOLDS
INCOME 1 MILE 3 MILE 5 MILE
2018 Population 7,033 22,547 26,042
2023 Projection 7,696 24,932 28,800
2010 Census 6,506 20,308 23,449
Growth 2018-2023 1.9% 2.3% 2.3%
2018 Households 2,736 8,342 9,655
2023 Projected Households 3,005 9,245 10,701
Growth 2018-2023 2.0% 2.2% 2.2%
Owner Occupied 1,351 4,907 6,002
Renter Occupied 1,386 3,435 3,653
Caucasian 5,345 17,890 21,060
African American 897 2,416 2,577
Am. Indian & Alaskan 18 56 71
Asian 61 206 219
Hawaiian & Pacific Islander 4 19 22
Hispanic 1,277 3,346 3,486
Other 730 2,035 2,186
Avg. Household Income $58,609 $63,102 $65,505
$25,000-$29,999 169 477 545
$35,000-39,999 128 378 414
$45,000-$49,999 150 406 449
$55,000-$59,999 68 256 319
$65,000-$69,999 88 300 359
$80,000-$89,999 156 568 668
$100,000-$125,000 140 476 608
$500,000+ 8 24 29
Businesses 281 623 691
Employees 4,946 11,407 12,704
DAY
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OFFERING MEMORANDUM SHELBYVILLE, KENTUCKY
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, gas/convenience, general merchandise, 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 over 300 national clients. The firm is headquartered near Austin, Texas, with a regional office located in Phoenix, Arizona. Over the past 39 years, Embree’s executive team has developed, built, or transacted more than 12,000 projects in all 50 states, Puerto Rico, andCanada with a total market value exceeding $10 billion.
ABOUT EMBREE
EXCLUSIVELY PRESENTED BY: JOSIAH BYRNES | VICE PRESIDENT
[email protected] | +1.719.243.6569 | www.EmbreeGroup.com
KLINTON LEWIS | ASSOCIATE NET LEASE [email protected] | +1.512.819.4729 | www.EmbreeGroup.com