(need to update) · 2020. 1. 9. · vaughn santa rosa tucumcari las vegas springer raton deming...
TRANSCRIPT
(NEED TO UPDATE)
OFFERING MEMORANDUM
Seasoned Operator New NNN Lease
LEESVILLELOUISIANA
(NEED TO UPDATE)
CONFIDENTIALITY AND DISCLAIMERThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure 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. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and 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 the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap 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.
NON-ENDORSEMENT NOTICEMarcus & Millichap Real Estate Investment Services, Inc. (“M&M”) is not affiliated with, sponsored 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 w, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
Marcus & Millichap is not affiliated with, sponsored 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 Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOURMARCUS & MILLICHAP AGENT FOR MORE DETAILS.
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MEXICO
CANADA
CANADA
CANA
DA
HOUMA
NEW IBERIA
SLIDELL
ABBEVILLE
BAKER
BASTROP
BAYOU CANE
BOGALUSA
CROWLEY
DE RIDDER
EUNICE
FORT POLK SOUTH
HAMMOND
JENNINGS
LAPLACE
MINDEN
MORGAN CITY
NATCHITOCHES
OPELOUSAS
PINEVILLE
RUSTON
SCOTLANDVILLE
SULPHUR
TALLULAH
THIBODAUX
VIOLET
WEST MONROE
COVINGTON
METAIRIE
ALEXANDRIA
BOSSIER CITY
KENNER
LAFAYETTELAKE CHARLES
MONROE
NEW ORLEANS
SHREVEPORT
BATON ROUGE
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Investment Summary .........................................1Investment Highlights.........................................2Aerial Map .........................................................5Tenant Summary ................................................7Site Plan ............................................................8Area Map .........................................................10 Location Overview ............................................11Location Highlights ...........................................12Demographics ..................................................13
TABLE OF CONTENTS
O V E R V I E WPrice $1,150,000
Gross Leasable Area (GLA) 2,800 SF
Lot Size (approx.) 0.60 Acres
Net Operating Income $62,424
CAP Rate 5.43%
Year Built 1990
L E A S E A B S T R A C TLease Type NNN
Original Lease Term 20 Years
Lease Start (Estimate) 11/16/2017
Lease Expiration (Estimate) 11/15/2037
Renewal Options 3x5
Increases 2% Annual Increases
Landlord Obligation None At All
1402 SOUTH 5TH STREET, LEESVILLE, LA 71446
PRICE: $1,150,000 CAP: 5.43% RENT: $62,424
INVESTMENT SUMMARY
A N N U A L I Z E D O P E R AT I N G D ATA
Lease Term Annual Rent
Current Term $62,424.00
2020 $63,672.48
2021 $64,945.93
2022 $66,244.85
2023 $67,569.75
2024 $68,921.14
2025 $70,299.56
2026 $71,705.55
1
INVESTMENT HIGHLIGHTSThis passive investment opportunity offers a buyer the possibility to acquire a true sleep-at-night investment.
The lease is a 20-year true NNN lease (no landlord obligations). The lease commenced in 2017, and offers annual rent escalations which hedges against inflation.
The Tenant is responsible for all aspects of the maintenance and operation of the facility, including CAMs, Real Estate Taxes, Insurance, Roof and structural aspects, and landscaping.
The lease is backed by a seasoned operator, Turbo LLC a 80 plus Arby’s Franchisee in Dallas, TX. Further Turbo is part of Sun Holdings a mega 1,000 unit multi Brand Company operating Burger Kings, Popeyes, GNC stores, T Mobile, Krispy Kreme and Golden Corral.
NNNNNN lease -
no landlord obligations.High visibility with 23,041 +/- vehicles passing in front of
the site daily.
Located just south of Louisiana’s largest
opportunity zone, the area is poised to experience
significant growth.
Annual rent bumps hedges against inflation.
Located along the Causeway which is the main
thoroughfare thru Leesville
2
3
INVESTMENT HIGHLIGHTS
t New 20 Year Absolute-Net Lease with 3-5 Year Options and 2% Annual Increases
t Located on Main Retail Corridor with Numerous Surrounding National Retailers
t Multi-Unit Guarantee
28,646 VPD
18,874TOTAL POPULATION WITHIN 5-MILE RADIUS
$56,222AVERAGE HOUSEHOLD INCOME WITHIN 5-MILE RADIUS
- S 5TH ST
4
Byrd Regional Hospital
Doctors Hospital At Deer Creek
Eaves Apartments
Vernon Parish Sheriff’s Office
S 5T
H S
T –
28,6
46 V
PD
S 5T
H S
T –
28,6
46 V
PD
McDonald’sMcDonald’s
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TENANT SUMMARY
SHREVPORT, LA HEADQUARTERS (INTERNATIONAL / US)
LEASE GUARANTOR OWNERSHIP
# OF LOCATIONSTENANT
PRIVATE
80TURBO, LLC
FRANCHISEE
ARBY’S
WEBSITE
WWW.ARBYS.COM
30+ YEARSYears in Business
ARBY’SArby’s is a 52-year-old legacy brand in the midst of a growth spurt. Arby’s Restaurant Group, Inc. owns, operates, and franchises quick-service sandwich restaurants with menu items that include meats, sliders, salads, sides, beverages, and desserts. Arby’s was founded in 1964 and is headquartered in Atlanta, Georgia. Roark Capital Group acquired the company in July 2011 and owns 81.5% of the company, with The Wendy’s Company owning the other 18.5%. Arby’s has more than 3300 restaurants and with plans to open more. Their franchisees are also expanding their operations. For instance, United States Beef Corporation (U.S. Beef), which owns more than 330 Arby’s locations nationwide, plans to expand to 400 locations by 2020. AEG Group LLC, which is owned by former RTM Restaurant Group president John Wade, has 21 Arby’s® restaurants and hopes to aggressively expand by 2025.
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S 5T
H S
TREE
T
S 4T
H ST
REET
ABE ALLEN MEMORIAL DRIVE
SITE PLAN
8
9
171
Leesville
FOUR WINDSCHEROKEE
SDSTA
Nolan Trce
N 6t
h St
N 5
th S
t
S 5t
h St
Colony Blvd
S 6t
h St
Slagle Rd
E Lula St
University PkwyS
3rd
St
Malcolm
Smart Rd
Red
Town
Rd
Belview Rd
S 1st St
N 1st St
N 3rd St
Hanna
Rd
Berry
Dr
Smar
t St
E Mechanic St
Jeanette Ln
Old Terminal Rd
Miller Ave
E North St
Smith St
E Maggie St
E Texas HwyE Lee St
Harrison St
La F o e Loop
Cherry S t
S 4t
h St
Allen Ave
Boone St
Allison St
John Paul Jones Ave
Vernon St
Kings Rd
Stanton Rd
Ande
rson
Dr
Aaron Ave
Magnolia
St
Jean St
Hickory
St
Port
Arthu
r Ter
Columbus Cir
Sartor St
Sartor St
Woodl and D
r
Westwood D
r
Pinckney Ave
Towe
r St
McR
ae R
d
Ivy St
Marv in Ave
Comp Rd 4137
Nila Sue Dr
Denn is Ave
Lees Ln
S 11th S t
Tower Cir
Vero
ne T
erOak Dr
Raymond Dr
Midway Dr
McFarland St
W Lula St
Bullo
ck D
r
Colony Pk. D
r
3rd St
4th St
Miriam St
Amou r Dr
Sara Dr
2nd
St
Elm St
Spru
ce D
r
Holly St
Fir St
Jennifer Dr
Ruth St
Lake St
Harper St
Ash St
Abe Allen Mem
orial Dr
S 10th St
Allison St
Anacoco St
W Mechanic St
Rodeo Dr
Industrial Park Rd
N G
l ady
s St
N V
eron
e S t
Pine Rd
Brad
ley
StHm Stevens Blvd
B utler St
Lawrence St
Sim
pson
St
Edn a
St
C hapral Apt St
Pearl St
N 9th St
Nelda St
Mauric e St
Ca
r v er Dr
Dump Rd
Cen. S t
Short St
Nona St
W North St
N E
r min
e S t
m a p s 4 n e w s . c o m / © H E R E
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LEESVILLE, LOUISIANALeesville is a small city and the parish seat of Vernon Parish, Louisiana, United States. The population was 6,612 at the 2010 United States Census. It is part of the Fort Polk South Micropolitan Statistical Area. The city is home to the Fort Polk U.S. Army installation. The populations of Fort Polk and Leesville, if combined, would result in a city with a population of more than 20,000.
LEESVILLE HOUSING & EMPLOYMENT In 2000, there were 3,275 owner occupied housing units in your area and there were 4,678 renter occupied housing units in your area. The median rent at the time was $313.
In 2014, there are 6,363 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 54.03% of employees are employed in white-collar occupations in this geography, and 45.21 % are employed in blue-collar occupations. In 2014, unemployment in this area is 4.84%. In 2000, the average time traveled to work was 19.0 minutes.
LOCATION OVERVIEW
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HOUMA
NEW IBERIA
SLIDELL
ABBEVILLE
BAKER
BASTROP
BAYOU CANE
BOGALUSA
CROWLEY
DE RIDDER
EUNICE
FORT POLK SOUTH
HAMMOND
JENNINGS
LAPLACE
MINDEN
MORGAN CITY
NATCHITOCHES
OPELOUSAS
PINEVILLE
RUSTON
SCOTLANDVILLE
SULPHUR
TALLULAH
THIBODAUX
VIOLET
WEST MONROE
COVINGTON
METAIRIE
ALEXANDRIA
BOSSIER CITY
KENNER
LAFAYETTELAKE CHARLES
MONROE
NEW ORLEANS
SHREVEPORT
BATON ROUGE
165
165
165
165
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165425
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M A J O R E M P L O Y E RV E R N O N PA R I S H
United States Dept of Army 13,115
Northrop Grumman Corporation 735
Beauregard Parish School Board 900
Fort Polk/JRTC 2,000
Walmart 400
Byrd Regional Hospital 225
Cantu Services Inc 210
LOCATION HIGHLIGHTS
LA 467, the area’s main highway, runs through
Leesville, making it an easily accessible city.
Strong visibility with ease of
ingress/egress
LEESVILLE, LATHE “BEST HOMETOWN IN THE WORLD.”
High volume of traffic as parish residents travel to the area’s shopping and dining
spots, medical facilities, and employment opportunities.
Population has grown 20% since 2010 and almost
40% of the population earns more than the national
average each year.
59 Miles from Alexandria
114 Miles from Shreveport
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18,874Total Population Within 5-Mile Radius
$56,222Average Household Income
Within 5-Mile Radius
$44,179Median Household Income
Within 5-Mile Radius
7,607Total Households in 5-Mile Radius
DEMOGRAPHICS / LEESVILLE, LA
13
POPULATION 1 MILE 3 MILES 5 MILES2023 Projection
Total Population 1,891 10,212 18,8742018 Estimate
Total Population 1,911 10,360 18,8492010 Census
Total Population 1,995 10,785 19,5552000 Census
Total Population 1,950 11,134 20,831Current Daytime Population
2018 Estimate 6,180 17,137 22,728
HOUSEHOLDS 1 MILES 3 MILES 5 MILES2023 Projection
Total Households 771 4,198 7,6072018 Estimate
Total Households 778 4,231 7,519
Average (Mean) Household Size 2.34 2.43 2.472010 Census
Total Households 830 4,489 7,9172000 Census
Total Households 809 4,610 7,883Occupied Units
2023 Projection 771 4,198 7,6072018 Estimate 924 4,899 8,669
HOUSEHOLDS BY INCOME 1 MILES 3 MILES 5 MILES2018 Estimate
$150,000 or More 1.84% 3.61% 3.58%
$100,000 - $149,000 7.57% 6.80% 8.27%$75,000 - $99,999 9.26% 10.15% 10.58%$50,000 - $74,999 18.88% 20.47% 21.35%$35,000 - $49,999 17.33% 15.52% 16.88%Under $35,000 45.10% 43.44% 39.34%
Average Household Income $48,527 $52,977 $56,222
Median Household Income $38,516 $40,882 $44,179
Per Capita Income $20,269 $21,800 $22,548
HOUSEHOLDS BY EXPENDITURE 1 MILE 3 MILES 5 MILESTotal Average Household Retail Expenditure $47,954 $49,006 $50,780 Consumer Expenditure Top 10 Categories
Housing $12,439 $13,051 $13,581 Transportation $10,298 $9,985 $10,530 Shelter $6,384 $6,681 $7,109 Food $4,835 $4,823 $5,086 Utilities $3,281 $3,513 $3,569 Health Care $3,247 $3,414 $3,313 Personal Insurance and Pensions $3,204 $3,506 $3,828 Entertainment $2,023 $2,083 $2,097 Cash Contributions $1,412 $1,401 $1,374 Household Furnishings and Equipment $1,384 $1,387 $1,392
POPULATION PROFILE 1 MILES 3 MILES 5 MILESPopulation By Age
2018 Estimate Total Population 1,911 10,360 18,849Under 20 27.02% 27.44% 27.03%20 to 34 Years 25.02% 24.22% 31.50%35 to 39 Years 6.29% 6.47% 6.83%40 to 49 Years 12.10% 11.36% 10.29%50 to 64 Years 16.86% 17.33% 13.95%Age 65+ 12.72% 13.19% 10.40%
Median Age 33.44 33.82 30.06Population 25+ by Education Level
2018 Estimate Population Age 25+ 1,220 6,649 11,580Elementary (0-8) 4.11% 4.36% 3.56%Some High School (9-11) 11.72% 10.67% 8.55%High School Graduate (12) 32.34% 33.90% 31.61%Some College (13-15) 28.63% 27.61% 28.00%Associate Degree Only 5.18% 5.28% 5.62%Bachelors Degree Only 10.49% 10.03% 13.40%Graduate Degree 6.51% 6.75% 8.13%
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LEESVILLELOUISIANA
LIOR REGENSTREIFSENIOR MANAGING DIRECTOR INVESTMENTS
SENIOR DIRECTOR, NET LEASED PROPERTIES GROUPENCINO OFFICE
Tel: (818) 212-2730Fax: (818) 212-2710
[email protected]: CA 01267761
JONATHAN BRAIERSENIOR ASSOCIATE
ENCINO OFFICETel: (818) 212-2773Fax: (818) 212-2710
[email protected]: CA 01958515
AIDA MEMARYASSOCIATE
ENCINO OFFICETel: (818) 212-2678Fax: (818) 212-2710
[email protected]: CA 01980240