triple net ground lease buffalo wild wings for sale | the boulder group
DESCRIPTION
The Boulder Group is pleased to exclusively market for sale a single tenant net leased corporately guaranteed Buffalo Wild Wings ground lease property in Fond du Lac, Wisconsin.TRANSCRIPT
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Buffalo Wild Wings Ground Lease (NASDAQ: BWLD)121 North Pioneer RoadFond du Lac, WI 54935
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TABLE OF CONTENTS
TABLE OF CONTENTS
1) Confidentiality&Disclaimer
2) ExecutiveSummary
3) PropertyOverview
4) Aerial
5) SitePlan
6) Map
7) TenantProfile
8) DemographicComparisonReport
9) LocationOverview
10) ContactInformation
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TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.
CONFIDENTIALITY & DISCLAIMER
CONFIDENTITALITY & DISCLAIMER
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TheBoulderGroupispleasedtoexclusivelymarketforsaleasingletenantnetleasedcorporatelyguaranteedBuffaloWildWingsgroundleasepropertyinFondduLac,Wisconsin.TheBuffaloWildWingsislocatedwithinadominantretaildestinationthatisanchoredbyaregionalmallandnumerousbigboxretailers.BuffaloWildWingsrecentlysignedatenyeargroundleasethatexpiresAugust31,2023.Theleasefeaturesa7%rentalescalationintheprimarytermand10%rentalescalationsineachrenewaloptionperiod.BuffaloWildWingsisapubliclytradedcompanyontheNASDAQ(BWLD)withamarketcapitalizationinexcessof$2.7billion.
The82,014 square foot property is centrally locatedwith excellent visibility toUSRoute41, theprimary north-souththoroughfareintheregion.USRoute41experiencestrafficcountsinexcessof35,000vehiclesperday.FurtherattributingtothestrengthoftheBuffaloWildWingslocationisitsproximitytoWestJohnsonStreet,theprimaryeast-westthoroughfareintheareawithtrafficcountsinexcessof28,000vehiclesperday.ThepropertyislocatedintheimmediateproximitytotheUSRoute41/WestJohnsonStreetinterchange.Thereareapproximately40,000peoplelivingwithinathreemileradiusoftheproperty,whichislocatedwithinaregionallydominantretailcorridor.TheBuffaloWildWingsislocatedadjacenttoaPick‘NSave,T.J.Maxx,andJo-AnnFabricgroceryanchoredcenter.ForestMall,a500,000+squarefootregionalmallthatisanchoredbySears,Younkers,Kohl’s,JCPenney,andStaples,islocatedintheimmediatevicinityoftheproperty.AdditionalretailerslocatedinthetradeareaincludeWalmart,Target,Menard’s,BestBuy,Shopko,andChaseBank.Uponsigningtheirtenyeargroundlease,BuffaloWildWingsinvested$2.2millioninbuildingimprovementsin2013.
BuffaloWildWingshasapproximatelynineyearsremainingontheirgroundleasethatexpiresinAugust2023.Theleasefeaturesa7%rentalescalationintheprimarytermand10%rentalescalationsineachrenewaloptionperiod.TheleaseiscorporatelyguaranteedbyBuffaloWildWings,apubliclytradedcompany(NASDAQ:BWLD)withamarketcapitalizationinexcessof$2.70billion.
INVESTMENT HIGHLIGHTS
•Recentlysignedtenyeargroundlease•7%rentalescalationinprimarytermand10%rentalescalationsineachrenewaloption•CorporateguarantytoBuffaloWildWings,apubliclytradedcompany(NASDAQ:BWLD)withamarketcapitalizationin excessof$2.70billion•Buildingwasrecentlyrenovatedwiththetenantinvesting$2.2 million•Nolandlordresponsibilities•AdjacenttoaPick‘NSave,T.J.Maxx,andJo-AnnFabricgrocery anchoredcenter•LocatedinadominantretailcorridorthatfeaturesForestMall, Walmart,Target,Menard’s,BestBuy,Shopko,ChaseBankand manyothers•LocatedalongUSRoute41,theprimarynorth-souththoroughfare intheregion(35,000VPD)
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
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PROPERTY OVERVIEW
PROPERTY OVERVIEW
Price: $1,680,000
CapRate: 5.75%
RentSchedule: NOI EscalationDate
$96,600$103,500 9/1/2018$113,850 9/1/2023(Option1)$125,235 9/1/2028(Option2)$137,793 9/1/2033(Option3)$151,524 9/1/2038(Option4)
RentalEscalations: 7%inPrimaryTerm,10%inEachRenewalOption
RenewalOptions: Four5-Year
LeaseCommencementDate: August19,2013
LeaseExpirationDate: August31,2023
Tenant: BuffaloWildWings(NASDAQ:BWLD)
YearRenovated: 2013
LeaseType: GroundLease
BuildingSize: 6,900SF
LandSize: 82,014SF
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AERIAL
AERIAL
N
35,5
00 V
PDUS
RO
UTE
41
28,600 VPDWEST JOHNSON STREET
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SITE PLAN
SITE PLAN
N
N PI
ONEE
R RO
AD
Local Restaurant
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MAP
MAP
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Buffalo Wild Wings, Inc. owns,operates,andfranchisesrestaurantsprimarilyintheUnitedStates.Itofferschickenandvariousfoodandbeverageitems,aswellasservesbottledbeers,wines,andliquor.AsofMay19,2014,thecompanyownedandoperated,andfranchisedapproximately1,010BuffaloWildWingslocationsin50statesintheUnitedStates,aswellasinCanadaandMexico.BuffaloWildWings,Inc.wasfoundedin1982andisheadquarteredinMinneapolis,Minnesota.Today,BuffaloWildWingsemploysover2,900people.
BuffaloWildWingsispubliclytradedontheNASDAQ(BWLD)withamarketcapitalizationinexcessof$2.70billion.
Website: www.buffalowildwings.comStockSymbol: BWLD(NASDAQ)MarketCapitalization: $2.70billionNumberofLocations: 1,010+Headquarters: Minneapolis,MN
TENANT PROFILE
TENANT PROFILE
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DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
Population 1-mi 3-mi 5-mi
TotalPopulation 6,208 39,670 54,420TotalHouseholds 2,947 16,932 22,652
Income
AverageHouseholdIncome $40,128 $50,223 $56,990
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Fond du Lac isacitylocatedinFondduLacCounty,Wisconsin.ThenameisFrenchfor‘bottomofthelake’,namedassuchbecauseofitslocationatthesouthern(bottom)coastofLakeWinnebago.FondduLacisthelargerprincipalcityoftheFondduLac-BeaverDamCSA,aCombinedStatisticalAreathatincludestheFondduLacmetropolitanarea(FondduLacCounty)andtheBeaverDammicropolitanarea,whichhadacombinedpopulation
of183,193atthe2000census.NativeAmericantribes,primarilytheWinnebagosbutalsothePotawatomi,Kickapoo,andMascoutinlivedorgatheredinthearealongbeforeEuropeanexplorersarrived.FondduLachas20listingsontheNationalRegisterofHistoricPlaces,includingfourhistoricdistricts:theSouthMainStreetHistoricDistrict,theNorthMainStreetHistoricDistrict,theLindenStreetHistoricDistrict,andtheEastDivisionStreet-SheboyganStreetHistoricDistrict.
ThelargestemployerinFondduLacisMercuryMarine,adivisionoftheBrunswickCorporation.MercuryMarine,whichhasitsworldheadquartersinFondduLac,isthelargestmakerofoutboardmotorsintheworld,employingapproximately2,500peopleinitsfactoryandoffices.FondduLacisalsohometoanACNielsendatagatheringcenter,whichisadivisionofTheNielsenCompany.OtherbusinessesincludesCharterCommunicationsandanofficeofWellpoint,whichoperatesasAnthemBlueCrossBlueShield.
www.fdl.com
LOCATION OVERVIEW
LOCATION OVERVIEW
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CONTACT INFORMATION
CONTACT INFORMATION
666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]