dunkin’...dunkin’ brands believes being a good corporate citizen is good business. they set...

Dunkin’ (Ground Lease)2580 South RoadPoughkeepsie, NY 12601

Net Lease Investment Offering

www.bouldergroup.com | Confidential Offering Memorandum| 2 |

Dunkin’ | poughkeepsie, NY

Offering SummaryExecutive Summary ................................................................... 1

Investment Highlights ............................................................. 2

Property Overview ...................................................................... 3

Location OverviewPhotographs ...................................................................................4

Location Aerial .............................................................................. 5

Site Plan .............................................................................................6

Map ....................................................................................................... 7

Market OverviewMarket Overview ..........................................................................8

Demographics ..............................................................................9

Tenant SummaryTenant Profile ............................................................................... 10

Table of Contents

TABLE OF CONTENTS


Dunkin’ | poughkeepsie, NYExecutive Summary

EXECUTIVE SUMMARY

The Boulder Group is pleased to exclusively market for sale a single tenant ground leased Dunkin’ property located within Poughkeepsie, New York. Dunkin’ has been in this location for over 40 years and recently extended the lease term through October of 2024 with one 5-year renewal option. The property benefits from an extremely low absolute rent of $40,204.80

The property benefits from its location on a busy corridor along South Road (53,419 VPD), which is a primary north-south thoroughfare. The property is well positioned in a dominant retail corridor with Poughkeepsie Plaza, Hudson Plaza and Post Road Plaza. These retail centers are anchored by Price Chopper, TJ Maxx & HomeGoods, Stop & Shop, and PetSmart. Other retailers in the corridor include IHOP, Harbor Freight Tools, Wendy’s, CVS, Barnes & Noble. Poughkeepsie also remains as IBM’s primary design and manufacturing center for its newest mainframes and high-end servers. It also serves as one of IBM’s major software development centers employs over 4,000 people. There are over 101,000 people living within 5 miles of the property with an average household income of $85,349.

The Dunkin’ lease expires on October 17, 2024 and features one 5-year renewal option period. Dunkin’ is the world’s leading baked goods and coffee chain, serving more than 3 million customers each and every day. They offer 50+ varieties of donuts, but you can also enjoy dozens of premium beverages, bagels, breakfast sandwiches and other baked goods. There are more than 12,900 Dunkin’ restaurants worldwide, with over 8,500 restaurants in 41 states across the U.S.A. and over 3,200 international restaurants across 36 countries.



INVESTMENT HIGHLIGHTS

■ Dunkin recently extended their lease by 5 years and added an option for one 5-year renewal option, demonstrating their commitment to the location

■ Dunkin’ has a long and successful operating history since 1978

■ Located on a busy corridor along South Road (53,419 VPD) which is a primary north-south thoroughfare

■ The property is well positioned in a dominant retail corridor anchored by Price Chopper, TJ Maxx & HomeGoods, Stop & Shop, and PetSmart

■ Other retailers in the corridor include IHOP, Harbor Freight Tools, Wendy’s, CVS, Barnes & Noble

■ There are over 101,000 people living within 5 miles of the property with an average household income

Investment Highlights



PROPERTY OVERVIEW

Price: $670,083

Cap Rate: 6.00%

Net Operating Income: $40,205

Lease Expiration Date: October 17, 2024*

Renewal Options: One 5-Year Remaining

Rental Escalations: 7% Increase - October 18, 2024

Lease Type: Ground Lease - NNN

Tenant:Dunkin’ Donuts of New York,

Inc.

Year Built: 1978

Building Size: 1,832 SF

Land Size: 0.468 Acres

Property Overview

*Tenant has the right to terminate this lease at any time with 120 days written notice.


Dunkin’ | poughkeepsie, NYPhotographs


Dunkin’ | poughkeepsie, NYLocation Aerial


Dunkin’ | poughkeepsie, NYSite Plan


Dunkin’ | poughkeepsie, NYLocation Map



1-Mile 3-Mile 5-Mile

Total Population: 3,886 52,414 101,513

Total Households: 1,627 19,754 37,258

1-Mile 3-Mile 5-Mile

Average Household Income: $114,895 $84,903 $85,349

Median Household Income: $77,494 $58,599 $62,419

Population Income

DEMOGRAPHICS

Demographics



City ofPoughkeepsie, New York

Poughkeepsie is a city in the U.S. state of New York. It is the county seat of Dutchess County with a 2019 census-estimated population of 30,515. Poughkeepsie is in the Hudson River Valley region, midway between the core of the New York metropolitan area and the state capital of Albany. It is a principal city of the Poughkeepsie–Newburgh–Middletown metropolitan area which belongs to the New York metropolitan area. It is served by the nearby Hudson Valley Regional Airport and Stewart International Airport in Orange County, New York.

Poughkeepsie has been called “The Queen City of the Hudson”. It was settled in the 17th century by the Dutch and became New York State’s second capital shortly after the American Revolution. It was chartered as a city in 1854. Major bridges in the city include the Walkway over the Hudson, a former railroad bridge called the Poughkeepsie Bridge, which re-opened as a public walkway on October 3, 2009, and the Mid-Hudson Bridge, a major thoroughfare built in 1930 that carries U.S. Route 44 over the Hudson. Poughkeepsie is situated between the Lower Hudson and the Capital District regions, and the city’s economy is stimulated by several major corporations, including IBM. Educational institutions include Marist College, Vassar College, Dutchess Community College and The Culinary Institute of America.

cityofpoughkeepsie.com

Market Overview



Dunkin’

Dunkin’ Brands has more than 21,000 points of distribution in more than 60 countries and is one of the world’s leading franchisors of quick service restaurants (QSRs) serving hot and cold coffee and baked goods, as well as hard serve ice cream. Dunkin’ Brands is the parent company of two of the world’s most recognized and beloved brands: Dunkin’, America’s favorite all-day, everyday stop for coffee and baked goods, and Baskin-Robbins, the world’s largest chain of ice cream specialty shops.

Dunkin’, founded in Quincy, Massachusetts in 1950, is famous for its combination of high-quality coffees, espresso beverages, baked goods and breakfast sandwiches served all day with fast, friendly service. Baskin-Robbins, founded in Glendale, California in 1945, is iconic for its variety of “31 flavors” of ice cream, along with the brand’s creative ice cream cakes, milkshakes and ice cream sundaes. Dunkin’ Brands’ 100 percent franchised business model currently includes more than 12,900 Dunkin’ restaurants and more than 8,000 Baskin-Robbins restaurants.

Dunkin’ Brands believes being a good corporate citizen is good business. They set corporate social responsibility (CSR) goals to make continuous progress in the areas of sustainable sourcing, packaging, energy efficiency, waste reduction, nutrition, Diversity & Inclusion and other material issues. Additionally, on an annual basis, their franchisees around the world volunteer their time and donate product and funds to countless non-profit groups. Most notably through the Joy In Childhood (JiCF) Foundation, Dunkin’ and Baskin-Robbins franchisees provide joy to kids when they most need.

Website: www.dunkinbrands.comNumber of Locations: 12,900Stock Symbol: DNKN (NASDAQ)Market Capitalization: $5.263 Billion

Tenant Overview

Jimmy [email protected]

EXLUSIVELY LISTED BY:

Randy [email protected]

The Boulder Group3520 Lake Avenue, Suite 203Wilmette, Illinois 60091

www.bouldergroup.com

CONFIDENTIALITY & DISCLAIMERThe information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group.

This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation.

The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes 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.

dunkin’...dunkin’ brands believes being a good corporate citizen is good business. they set...

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